Loan Facility - Replacement

RNS Number:2784S
OverNet Data PLC
20 November 2003

20 November 2003

                        OverNet Data Plc (the "Company")

                           Loan Facility - Replacement

The following replaces the announcement released on 17 November 2003 at 11.28
am, RNS Number 1344S.  Please be advised that Monument Capital LLC owns
1,276,733 ordinary shares not 1,276,000 as previously stated and upon full
conversion, the exercise of options already held and assuming no further new
ordinary shares had been issued would own 5,776,733 ordinary shares representing
43.9% of the then issued share capital of the Company not 3,276,000 ordinary
shares representing 29.3% respectively as previously stated.

All other details remain unchanged, the full amended text appears below.


20 November 2003


                        OverNet Data Plc (the "Company")

                                 Loan Facility

The Company has arranged an interest free convertible loan of up to #200,000
with Monument Capital LLC ("Monument").

The first tranche of the facility of #25,000 is payable to the Company
immediately and the second tranche of #175,000 is payable to the Company at any
time within 4 months of the first tranche, when called by the Company or
provided to the Company at Monument's option.

The loan is convertible in whole or part on one or more occasions until fully
converted into new ordinary shares of 0.5p on the basis of 1 new ordinary share
for each 10p of loan converted.

Monument is an LLC, owned by Paulo Mascheroni, which currently owns 1,276,733
ordinary shares in the Company.  Upon full conversion, the exercise of options
already held and assuming no further new ordinary shares had been issued it
would own 5,776,733 ordinary shares representing 43.9% of the then issued
ordinary share capital of the Company.  The directors believe that, having
consulted with its nominated adviser, the terms of the transaction are fair and
reasonable insofar as its shareholders are concerned.



                      This information is provided by RNS
            The company news service from the London Stock Exchange
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