PrimeLearning.com raises

New investors to the company include Independent News & Media PLC, Dr. AJF O'Reilly and Mr. Peter Goulandris. Existing shareholder 3i plc, Europe's largest venture capital company, has increased its stake in the company.

The founders of the company are Terry and Mary O'Brien and they, together with other directors and staff, hold the balance of the equity in the company. PrimeLearning.com plans to seek a listing for its shares on the NASDAQ market next year. Following the placing, a representative of Independent News & Media PLC will join the board of PrimeLearning.com.

PrimeLearning.com was established in January 1999. The company is quickly becoming a major international force in the corporate eLearning market, redefining the very meaning of corporate training and workforce performance. The PrimeLearning.com team includes instructional designers, course developers, graphic artists, internet design experts, subject experts, mentors, quality managers, sales and marketing professionals, service professionals, finance and administrative personnel.

Planned curricula include sales skills, customer service, project management, tele-skills, management and supervisory skills, leadership, finance, legal compliance, inter-personal skills and personal development. With such content partners as the Xerox Corporation and others, PrimeLearning.com has content depth unequalled by any traditional or new media training provider.

PrimeLearning.com currently employs 35 people in its Limerick office and plans to increase this to 100 by the end of the year. The company's headquarters are based in Stamford, Connecticut and its European sales head office is in London.

The Chief Executive of PrimeLearning.com, Mr Terry O'Brien, said that the share placing represented another important milestone in the company's development. "Corporate eLearning represents a major opportunity as part of the overall eBusiness market. PrimeLearning.com intends to be a major eLearning player in the business-to-business segment of this market. The financial strength of Independent News & Media and 3i, in addition to the marketing expertise and global contacts of Dr O'Reilly and Mr Goulandris, will be key assets in helping us achieve our vision. We are very pleased to have them as financial partners."

Ends. Thursday, 11th May 2000 For Reference: Pat Walsh Murray Consultants Limited
Tel: +353 - 1 - 663 3318

Notes

INDEPENDENT NEWS & MEDIA PLC: Independent News & Media PLC. (U-INWS) is a EUR2.3bn media conglomerate, fully listed on both the Irish and London Stock Exchanges. A fast growing international media and communications group, Independent has significant interests in publishing, outdoor advertising and electronic media and has operations in Australia, New Zealand, Hong Kong, the United Kingdom, Ireland, Portugal, and South Africa.

Independent publishes over 160 newspaper and magazine titles with weekly circulations of over 15 million copies (and a readership franchise in excess of 45 million) and has market-leading newspaper positions in all its markets. In March 1999, the Group established a new division, Independent Digital, to actively identify and exploit new media opportunities in both fixed-line and mobile telephony, internet and e-commerce.