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 RECENT PRESS RELEASES MULTIMAP.COM PROFILE 9 September 1999 Flextech invests £1.875 million in Multimap.com Flextech plc ("Flextech") today announced the acquisition of a 25% shareholding in Multi Media Mapping Limited ("Multimap"), one of the UK's leading providers of internet mapping services. Flextech has paid £1.875 million (US$ 3 million) for a 25% stake in multimap by way of subscription for new shares. The investment will be housed within Flextech Interactive, Flextech's digital and interactive services division. Multimap provides internet mapping services to portals, online directories and corporate websites across the UK and Europe. Multimap provides a public website (Multimap.com) as well as a fee generating service to businesses seeking to promote their locations via the internet. Traffic to the Multimap.com public website is growing at a rate of 33% per quarter. Multimap.com now records some six million impressions per month, placing it in the top thirty websites in the UK excluding portals. Multimap will use the funds generated by Flextech's investment for content and systems development, expansion into continental Europe and the creation of new services. Flextech Interactive will work with Multimap on a range of products, particularly SceneOne, the UK entertainment guide. SceneOne offers entertainment listings and booking facilities for a range of entertainment and leisure activities including cinema, theatre, books, videos and music. SceneOne operates with a host of content partners including Amazon.com, Yalplay and Scoot and will launch as a digital, interactive television service later this year. Adam Singer, Chairman and Chief Executive, Flextech plc said: "Multimap is the perfect partner for Flextech Interactive. The Multimap.com site is the next logical click for a SceneOne user, and we believe that there are many opportunities for developing its marketing, advertising sales potential and infrastructure. Interactive development remains a priority for Flextech and we believe that multimap will prove to be a powerful content partner as we expand this new business further." Sean Phelan, Managing Director, Multi Media Mapping said: "Flextech has a deep understanding of new media, and is a leader in content delivery to interactive TV as well as the web. We are very excited about the synergies between Multimap.com and Flextech, and the growth opportunities this relationship brings to our company." About Multimap.com Multimap.com is one of the UK's top 10 most visited public sites and the most significant provider of on-line mapping services to UK businesses. The site attracts around one and a half million unique visitors each month. Multimap.com has been profitable since its first service launch in 1997. Flextech plc, the UK's leading pay-TV operator, is a key investor in the company. Notes to Editors: Flextech Interactive provides a range of digital and interactive services to the media, satellite and cable industries, leading the way in providing new products to the emerging digital platforms. Flextech Interactive's services and products are platform and technology neutral and as such will be available on the internet, interactive television, and in the future on mobile phones and via other new distribution media. Flextech Interactive boasts a portfolio of 13 websites including SceneOne, Bravo, Living, Trouble, Cable Guide, Screenshop, TV Travel Shop and Discovery. This portfolio of sites receives over 10 million commercial page impressions per month. Flextech's interactive and transactional services also include SceneOne, the UK's entertainment guide and Screenshop, a homeshopping service. Multi Media Mapping is one of the UK's top 10 most visited public sites and the most significant provider of on-line mapping services to UK businesses. The site attracts around one and a half million unique visitors each month. Multimap.com has been profitable since its inception in 1997. Major partners of multimap.com include web portals Lycos and Virgin Net; estate agents Winkworths; online directory Scoot; e-business Lastminute.com; and retailers Tesco, Sainsbury's, Waterstone's, Iceland and Comet. |
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