Loan Facility

RNS Number:1344S
OverNet Data PLC
17 November 2003

17 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 1,276,000
ordinary shares in the Company.  Upon full conversion and assuming no further
new ordinary shares had been issued it would own 3,276,000 ordinary shares
representing 29.36% 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.


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