Reduction of Capital

RNS Number:9331N
Internet Business Group
13 February 2008


 Not for release, publication or distribution, in whole or in part, in, into or
    from any jurisdiction where to do so would constitute a violation of the
                       relevant laws of such jurisdiction


   RECOMMENDED OFFER BY TMN GROUP PLC ("TMN") FOR INTERNET BUSINESS GROUP PLC
                            ("IBG" or the "Company")


  to be effected by means of a Scheme of Arrangement under section 425 of the
                               Companies Act 1985


                              Reduction of Capital


Following the announcement of 11 February 2008 whereby the Court sanctioned the
Scheme, the Court today confirmed the Reduction of Capital which, once
registered by the Registrar of Companies (which is anticipated to occur on 14
February 2008), will give effect thereby to the acquisition of IBG by TMN.
Completion of the Acquisition remains subject to the satisfaction or waiver (if
capable of waiver) of the remaining Conditions set out in the Scheme Document.

The last day for dealings in IBG Shares was 12 February 2008 and the Scheme is
expected to become effective on 14 February 2008. Accordingly, dealings in the
New TMN Shares will commence at 8 a.m. on 14 February 2008 at which time the
listing of the existing IBG Shares will be cancelled.

The definitions used or referred to in the Scheme Document dated 20 December
2007 apply in this announcement, unless the context otherwise requires.


Enquiries:

Internet Business Group Plc
Maziar Darvish, Chairman
020 7927 8102

Strand Partners Limited
James Harris / Braden Saunders
020 7409 3494

St Helen's Capital Limited
Ruari McGirr
020 7628 5582

Tavistock Communications Limited
Matt Ridsdale
020 7920 3150


Strand Partners, which is authorised and regulated in the United Kingdom by the
FSA, is acting exclusively for IBG and no one else in connection with the
Acquisition and the Scheme and will not be responsible to anyone other than IBG
for providing the protections afforded to clients of Strand Partners nor for
giving advice in relation to the Acquisition and the Scheme or any other matter
or arrangement referred to in this announcement.

Overseas Jurisdictions

The release, publication or distribution of this announcement in jurisdictions
other than the United Kingdom may be restricted by law and therefore any persons
who are subject to the laws of any jurisdiction other than the United Kingdom
should inform themselves about, and observe, any applicable requirements. This
announcement has been prepared for the purposes of complying with English law
and the City Code and the information disclosed may not be the same as that
which would have been disclosed if this announcement had been prepared in
accordance with the laws and regulations of any jurisdiction outside of England.


THIS ANNOUNCEMENT IS NOT A PROSPECTUS. IT DOES NOT CONSTITUTE OR FORM PART OF
ANY OFFER OF SECURITIES, OR CONSTITUTE SOLICITATION OF ANY OFFER OF SECURITIES.




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

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