Director Shareholding

RNS Number:7213N
OverNet Data PLC
18 July 2003


OverNet Data PLC

18 July 2003

OverNet Data plc

Related Party Transaction

OverNet Data plc ("OverNet" or the 'Company') has today granted to Monument 
Capital LLC ('Monument'), a company jointly owned by Mr Leo Knifton and Mr 
Nigel Weller, directors of OverNet, an option to subscribe for up to 2,500,000 
new Ordinary Shares of 0.5p each, at a price of 5p per share (the 'Option'), in
consideration for their services to the Company. The Option shall be exercisable
at any time in the period of one year from the date of grant. The directors of
the Company, other than Mr Knifton and Mr Weller, having consulted with 
Arbuthnot Securities Limited, consider the terms of the Option to be fair and
reasonable insofar as shareholders are concerned.

Following this announcement the aforementioned Directors' interest in the issued
ordinary share capital of the Company is as follows:

                    No. of Ordinary Shares     % of issued       No. of Options
                                               share capital

Monument            1,182,733                  12.9%             2,500,000


Note:
The interests of Leo Knifton and Nigel Weller are held through Monument.

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