U.K. ISP Freeserve Tops 1.6 Million Users

Freeserve PLC now has 1.68 million active registered accounts, the U.K. ISP (Internet service provider) announced today.

The company gained 100,000 users in the final six weeks of last year and is adding an average of 14,000 users a week, Freeserve said in a statement.

Also today Freeserve released its financial results for the second quarter ended Nov. 13, 1999, reporting revenues up 3.78 million pounds (US$6.21 million), from 3.38 million pounds in the previous quarter. The ISP reported a second-quarter loss before exceptional items and taxation of 3.64 million pounds down from a 5 million pound loss reported in the company's first quarter.

Freeserve was first traded as a public company in August of last year on Nasdaq, as well as being the first purely Internet stock to be traded on the London Stock Exchange. The IPO (initial public offering) of Freeserve's stock in the U.K. was 30 times oversubscribed. [See "Freeserve Floats at US$2.4 Billion," July 16.]The U.K. ISP is currently trading today at 485 pence on the London Stock Exchange, down from 3.75 pence from 488.75 pence.

Freeserve, in Hertfordshire, England, can be contacted at +44-1442-353000, or at http://www.freeserve.co.uk/.

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