New Investment in Gasworld.com Ltd

Brainspark PLC 22 June 2000 BRAINSPARK ANNOUNCES NEW INVESTMENT IN GASWORLD.COM LTD. Brainspark plc (www.brainspark.com) the incubator focused on germinating and developing Internet related businesses announced today a £950,000 investment in Gasworld.com (www.gasworld.com). Gasworld.com is an independent business to business exchange for the global industrial gases sector, a niche market currently valued at around $32 billion. The industry is a highly fragmented one with no clear network forcommunication between industry participants. Furthermore, as a capital intensive sector, there are numerous efficiencies that can be made by smart use of technology. The aim is to create a trading community around suppliers, manufacturers and distributors. The site will provide the gases industry with multiple trading mechanisms, the opportunity to buy and sell industrial gases and equipment, and as a vehicle for advertising to the industry. There will also be news, analysis and discussion forums. Revenue will be generated from commissions on transactions and value added services. Gasworld.com aims to become a global company. The founders of gasworld.com have a wealth of experience in the international gas industry. Derek Marshall, CEO, was formerly Director of Strategy and Planning with The BOC Group, having previously worked for Arthur D Little (as a senior consultant in the oil and gas sectors), Mobil and Exxon. John Raquet and Nick Pledge have also held senior positions at major international gas companies, including The BOC Group, Air Products and CryoGas Consulting. Gasworld.com has engaged Axon (a new economy systems integrator) to be their strategic technology partner. This investment takes the number of companies incubated by Brainspark to thirteen, three of which (LeisureHub.com, Petspark.com and Metapack) have successfully completed follow-on funding rounds. Along with Leisurehub.com and Gasworld.com, Brainspark is incubating another business to business exchange, Propex (propex.co.uk) which was announced earlier this month. Derek Marshall, Chief Executive of Gasworld.com, said: 'We are delighted to be working with Brainspark who already have a first- class track-record in launching other successful business to business exchanges. They will be helping us in the early stages to develop our technology and business model and their ongoing support should help us bring the business to market in a much faster time-frame than could be managed otherwise.' Stewart Dodd, Chief Executive of Brainspark, said: 'Gasworld.com is serving a clearly defined business to business global marketplace which is currently not addressed. We were impressed with Gasworld.com's solid industry background and knowledge. As with our other incubated businesses, we see value in taking the best from the old economy and marrying that with new economy models. Gasworld.com is using technology to provide a solution to the industry which could not be achieved in the offline world. We are also pleased to be working with one of our partners, Axon to create this exciting new venture.' Mark Hunter, Chief Executive of Axon commented: 'A fragmented market with real customer needs, a clear channel to that market and experienced management to make it work - the key elements are in place for Gasworld.com to create a new and successful marketplace in the global industrial gases industry. I believe these elements coupled with Brainspark's incubation expertise and Axon's track record in the delivery of business to business marketplaces makes Gasworld.com a serious new entrant in this industry.' Enquires: Brainspark (020 7843 6600) Gasworld.com (020 7843 6600) Stewart Dodd Derek Marshall David Hart Citigate Dewe Rogerson (020 7638 9571) Martin Jackson / Charles Vivian