Investment

RNS Number:0349R
Microcap Equities Plc
20 October 2003


Embargoed:07:00hrs Monday 20th October 2003


                            Microcap Equities Plc

                         ('Microcap' or the 'company')


Microcap Equities Plc (formerly Underwriting and Subscription Plc) is pleased to
announce that it has completed its first investment in acquiring a 2.5% stake in
The Interactive Sports Store Limited (Sports Store). The Interactive Sports
Store is an online retailer of sports wear distributing England kits through its
website on behalf of the FA and ECB as well as being the largest independent
retailer of Manchester United kit.


The Interactive Sports Store is 45% owned by Michael Ashley of Sports Soccer,
Sport Store are currently developing what is set to be the definitive Web-based
retail Site to be launched by Sports Soccer later this year. Sports Soccer who
own Lillywhites, the rights to the Donnay sports brand and over 120 stores in
the UK has a turnover in excess of #390 million and to the year ended April 2002
made a pre-tax profit of #46 million.


Ray Harris and Chris Phillips of Microcap Equities Plc will being joining the
board of Sports Store. it is the intention of The Interactive Sports Store to
seek a listing on a recognised exchange either in the United States or the
United Kingdom within the next 12 months. Microcap Equities Plc have an option
to increase its stake by a further 2.5% over the next 12 months.


Chris Phillips, Chairman of Microcap Equities Plc, commented:


"This is the first equity investment that we have made since the capital
re-organisation of Microcap Equities. Sports Soccer is one of the countries
leading sports retailers and to be a founding investor in this online venture
should prove to be very beneficial and profitable over the coming years."


For Further Information:

Adam Reynolds                                    0207 245 1100
Hansard Communications



Notes to Editors


* Sports Soccer to April 2002 had a turnover of #393 million and made
pre-tax profits of #46 million

* Sports Soccer acquired the world-renowned Lillywhites sports store in
2002

* Sports Soccer owns the rights to the Donnay brand

* Sports Soccer owns 120 stores in the UK and a further 20 sites in
Ireland and Belgium





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

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