ALTON, England--(BUSINESS WIRE)--Nov. 29, 1999--TownPagesNet.com plc (AMEX: TPN - news), which operates an interactive on-line information service in the UK, announced results for the three and nine month periods ended September 30, 1999.

Total revenue for the three months ended September 30, 1999 was $2,835,992, a sharp increase from revenue of $47,259 for the three months ended September 30, 1998. Similarly, total revenue for the nine months ended September 30, 1999 rose to $9,202,845 from the $66,656 recorded for the same period in 1998. The net loss for the three months ended September 30, 1999 was $1,235,493, compared with a net loss of $688,966 for the comparable 1998 quarter. The net loss for the nine-month period was $414,835, as compared with a net loss of $1,666,520 for the comparable nine-month period in 1998.

Stephen Hall, TownPagesNet.com plc's recently appointed Chief Executive Officer, commented: ``Our results in the quarter and the nine-month period just ended continue to reflect growth of our business as we implement our business plan. During the last quarter, TownPages successfully completed two acquisitions and negotiated acquisitions of two other companies which were completed in October. Due to timing of acquisitions, our third quarter results were only marginally impacted by acquisitions. We expect that the acquisitions will have a more significant impact on our financial results in the fourth quarter of this year.''

TownPages recently acquired Internet companies WWW.CO.UK Ltd, (www.cinemas-online.com) and Morbria Ltd. (www.graphicpalette.co.uk). In October, TownPages acquired the US-based polling company Rasmussen Research, which conducts customized polls for its clients and uses resulting data to create an on-line snapshot of America (www.portraitofamerica.com) and BuyersGuide Limited (Bowden Publishing). BuyersGuide Limited produces the Internet-based Local Authority & Public Service Buyers Guide and has been successful in its advertising formula. ``TownPages is now developing e-commerce facilities for the Buyers Guide (GS2B - 'Government Spending to Business') to help service the huge government spending marketplace,'' said Hall.

``These four acquisitions expand TownPages' range of services and also expand our client base to include blue-chip companies such as Microsoft (NASDAQ:MSFT - news), Coca-Cola (NYSE:KO - news), IBM (NYSE:IBM - news) and Canon (NASDAQ:CANNY - news), and a wide range of international telecommunications companies,'' said Hall. In August, TownPages concluded an agreement with NCR to manufacture, install and co-market its kiosks. Hall continued, ``the NCR agreement enables TownPages to move forward into the next phase of our national roll-out of 3,500 kiosks. Our plans include integrating e-commerce capabilities and other revenue-generating features into the kiosks and the TownPages website (www.TownPages.co.uk).''

Hall also stated that ``in the last quarter, TownPages reached agreements to develop and run three additional content focused Web channels for third parties, bringing its contracts up to 24 in number. We aim to offer 50 e-commerce web channels through our TownPages service within 15 months.'' The Company currently has channels covering cars, travel, health, shopping, fashion, auctions, financial services and information, homewares, gardening, memorabilia and collectibles, leisure, lifetime dedication, sports, weddings and more.

TownPagesNet.com plc owns Town Pages UK Ltd., which operates TownPages®, an interactive service providing comprehensive, up-to-date, locally focused information about specific towns and cities in the United Kingdom in a graphically pleasing format. On May 5, 1999, the Company consummated the initial public offering of its securities in the US for gross proceeds of $22,000,000.

``Safe Harbor'' statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, reliance on key strategic alliances, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

                         TOWNPAGESNET.COM PLC

            Condensed Consolidated Statements of Operations

                              (Unaudited)

                       (Amounts in U.S. Dollars)



               Three Months Ended               Nine Months Ended

                    Sept  30                         Sept  30

               1999           1998            1999            1998



Total

 Revenues   $ 2,835,992    $  47,259      $ 9,202,845     $  66,656



Gross

  Profit    $ 1,434,945   $   47,259      $ 3,594,403    $   35,366



Loss from

 Operations $(1,356,124)  $ (664,383)   $   (557,887)   $(1,597,923)

Net Loss    $(1,235,493)  $ (688,966)   $   (414,835)   $(1,666,520)



Basic and

 Diluted

  Net Loss

   Per Share  $   (0.16)   $   (0.14)   $     (0.07)   $      (0.33)



Shares Used

 in Computing

Basic and Diluted

 Net Loss

  Per Share   7,652,736    5,000,000      6,345,244      5,000,000

The financial statements expressed as of September 30, 1999 were translations into United States Dollars, solely for the convenience of the reader, at the prevailing exchange rate at September 30, 1999 of one pound=$1.6469.

     TownPages

     Stephen Hall a/o Francoise James

     011-44 1420 543468

         or

     Countrywide

     Sophie Hunt/Ian Taylor

     011-44-1295-224400

         or

     H.L. Lanzet, Inc.

     Herbert Lanzet/DeeDee Lanzet

     212/687-0061

     [email protected]

Newsbit furnished by:

A: NetShift Software Ltd.
A: Hughenden Yard, Marlborough, Wilts,SN8 1LT, UK
T: +44 (0)1672 511 094
F: +44 (0)1672 511 078
E: [email protected]
W: www.netshift.com

Thanks Anna!