Corporate Action - Update

Internet Music & Media PLC 14 August 2001 CAPITAL REORGANISATION SECURITY TITLE *Ord Shs MNEMONIC CODE *IMM SEDOL CODE *852-836 TERMS *The Company is proposing to subdivide and redesignate the Existing Shares into one New Ordinary Share of 1p and one Deferred Share of 24p The effective date of 15-08-01 for the Capital Reorganisation has been postponed until further notice.