Product Launch01/02/2001 07:00:16
IBNet PLC1 February 2001IMMEDIATE RELEASE
1 February 2001
IBNET PLC Launches SHAREDETEC at London Stock Exchange
First product to protect against share abuse on the Internet IBNet
PLC, the Internet surveillance and monitoring company, floated on the
Alternative Investments Market ("AIM") in March 2000, is pleased to
announce the launch of Sharedetec. The product, the first of its
genre, addresses thethreats the Internet poses to quoted companies
through the misuse of Internet Bulletin Boards. Today, at the London
Stock Exchange, IBNet formally launched Sharedetec to an audience of
stock brokers, fund managers and journalists. Sharedetec is the first
product derived from IBNet's main service, Netdetec,which uses
advanced spidering and agent technology. Other sub-brands IBNet
offers are Branddetec and Newsdetec, services that are dedicated to
individual markets and their needs. Branddetec, currently being tested
by potential customers with a launch planned for later this year,
searches the Internet for all areas of brand, copyright and corporate
reputation abuse. Newsdetec is an on-line automated news monitoring
service. IBNet will continue to launch more products throughout 2001,
which the Directors believe,will radically enhance IBNet both
corporately and financially.
Abuse of Bulletin Boards and Chat Rooms
Whilst the Internet has opened up a world of opportunities it also has
a verydark side where fraudulent activity is rife. Stock Markets are
particularly susceptible to Internet abuse. The advent of Internet
bulletin boards and chatrooms has not only provided investors with a
forum to discuss ideas and opinions but has also opened the door to
new types of fraud - share priceramping, 'pumping and dumping' shares,
reputation abuse and misinformation have become every day occurrences.
As an example, Minmet, an Irish mining company, has been a high
profile target of such fraudulent activity. The Company was forced to
issue a press statement acknowledging commentary on Internet Bulletin
boards, some of which was "erroneous and misleading", after it had an
devastating effect on its share price.
Finding and Stopping the abuse
To date, the only solution for checking Internet abuse was to manually
access and monitor the bulletin boards and chat rooms, a lengthy and
time-consuming task. Sharedetec is a unique, fully automated
intelligent system which actively monitors selected UK bulletin boards
and financial media sites. TheSharedetec system visits the bulletin
boards and financial media sites every hour around the clock searching
for new stories and comments on listed shares. Once content is
identified the system alerts the user via their PC. Sharedetec can
provide Companies and all those involved in the financial markets with
continuous information allowing informed decisions to be made
andprompt remedial action is an option open to Companies and their
advisors. IBNet can also assist in identifying the originator of
fraudulent information and advise on the appropriate action to take.
Active Support for Sharedetec
The Sharedetec concept was developed hand in hand with Old Mutual
Securities, broker to IBNet plc, whose Market Making team and
Corporate Brokers use the system to monitor Internet commentary on
their clients and the portfolio of stocks in which they make markets.
The system has received strong support from the bulletin boards which
are keen for the misuse of the sites to cease.
Today at the Sharedetec launch, Mark Ommanney, Chief Executive of
IBNet plc,said :"IBNet has launched the first ever product which
specifically addresses the problem of share abuse on the Internet, an
issue that is gaining more and more prominence and causing alarm among
all connected with the financial markets. Our vision is that we will
work together with the Bulletin Boards in order to build up an elite
group who will gain a reputation for carrying information that is
accurate and therefore of substantial value to potential investors,
brokers and fund managers alike.
"Edmond Warner, CEO of Old Mutual Securities, said :"Gossip on
Bulletin Boards moves share prices. In a couple of months Sharedetec
has proved invaluable, turning a threat to our profitability into an
opportunity."Steven Philippsohn, of Philippsohn Crawford Berwald -
specialists in e-litigation, said :"A financially crippling Internet
scam has travelled across the Atlantic. With recent research showing
88% of the UK's financial institutions are unprotected against
electronic fraud, the aptly named 'pump and dump' sharefraud could
wreak havoc throughout the financial community.
"For further information, please contact :IBNet plcMark Ommanney
020 7629 7676David
Bickers 020 8840
0040
Buchanan Communications(Financial Public Relations)Tim Anderson /
Isabel Petre /Catherine Miles
020 7466 5000
GJA Ltd(General Public Relations)Fran Elkin / Melissa Edwards
020 8840 0040Notes to
Editors
IBNetIBNet floated on the Alternative Investment Market ("AIM") of the
London StockExchange in March 2000 and is currently trading at 81.5p.
(This is above itsissue price of 55p, and IBNet is one of only three
technology companies whichfloated in the first quarter of last year
to have ended 2000 in thisposition). IBNet provides continuous
surveillance of the Internet, using sophisticated spidering
technology, enabling companies to watch for activity which could be
damaging to them ranging from share price manipulation to the sale of
fake or stolen goods.
END
IBNet PLC1 February 2001IMMEDIATE RELEASE
1 February 2001
IBNET PLC Launches SHAREDETEC at London Stock Exchange
First product to protect against share abuse on the Internet IBNet
PLC, the Internet surveillance and monitoring company, floated on the
Alternative Investments Market ("AIM") in March 2000, is pleased to
announce the launch of Sharedetec. The product, the first of its
genre, addresses thethreats the Internet poses to quoted companies
through the misuse of Internet Bulletin Boards. Today, at the London
Stock Exchange, IBNet formally launched Sharedetec to an audience of
stock brokers, fund managers and journalists. Sharedetec is the first
product derived from IBNet's main service, Netdetec,which uses
advanced spidering and agent technology. Other sub-brands IBNet
offers are Branddetec and Newsdetec, services that are dedicated to
individual markets and their needs. Branddetec, currently being tested
by potential customers with a launch planned for later this year,
searches the Internet for all areas of brand, copyright and corporate
reputation abuse. Newsdetec is an on-line automated news monitoring
service. IBNet will continue to launch more products throughout 2001,
which the Directors believe,will radically enhance IBNet both
corporately and financially.
Abuse of Bulletin Boards and Chat Rooms
Whilst the Internet has opened up a world of opportunities it also has
a verydark side where fraudulent activity is rife. Stock Markets are
particularly susceptible to Internet abuse. The advent of Internet
bulletin boards and chatrooms has not only provided investors with a
forum to discuss ideas and opinions but has also opened the door to
new types of fraud - share priceramping, 'pumping and dumping' shares,
reputation abuse and misinformation have become every day occurrences.
As an example, Minmet, an Irish mining company, has been a high
profile target of such fraudulent activity. The Company was forced to
issue a press statement acknowledging commentary on Internet Bulletin
boards, some of which was "erroneous and misleading", after it had an
devastating effect on its share price.
Finding and Stopping the abuse
To date, the only solution for checking Internet abuse was to manually
access and monitor the bulletin boards and chat rooms, a lengthy and
time-consuming task. Sharedetec is a unique, fully automated
intelligent system which actively monitors selected UK bulletin boards
and financial media sites. TheSharedetec system visits the bulletin
boards and financial media sites every hour around the clock searching
for new stories and comments on listed shares. Once content is
identified the system alerts the user via their PC. Sharedetec can
provide Companies and all those involved in the financial markets with
continuous information allowing informed decisions to be made
andprompt remedial action is an option open to Companies and their
advisors. IBNet can also assist in identifying the originator of
fraudulent information and advise on the appropriate action to take.
Active Support for Sharedetec
The Sharedetec concept was developed hand in hand with Old Mutual
Securities, broker to IBNet plc, whose Market Making team and
Corporate Brokers use the system to monitor Internet commentary on
their clients and the portfolio of stocks in which they make markets.
The system has received strong support from the bulletin boards which
are keen for the misuse of the sites to cease.
Today at the Sharedetec launch, Mark Ommanney, Chief Executive of
IBNet plc,said :"IBNet has launched the first ever product which
specifically addresses the problem of share abuse on the Internet, an
issue that is gaining more and more prominence and causing alarm among
all connected with the financial markets. Our vision is that we will
work together with the Bulletin Boards in order to build up an elite
group who will gain a reputation for carrying information that is
accurate and therefore of substantial value to potential investors,
brokers and fund managers alike.
"Edmond Warner, CEO of Old Mutual Securities, said :"Gossip on
Bulletin Boards moves share prices. In a couple of months Sharedetec
has proved invaluable, turning a threat to our profitability into an
opportunity."Steven Philippsohn, of Philippsohn Crawford Berwald -
specialists in e-litigation, said :"A financially crippling Internet
scam has travelled across the Atlantic. With recent research showing
88% of the UK's financial institutions are unprotected against
electronic fraud, the aptly named 'pump and dump' sharefraud could
wreak havoc throughout the financial community.
"For further information, please contact :IBNet plcMark Ommanney
020 7629 7676David
Bickers 020 8840
0040
Buchanan Communications(Financial Public Relations)Tim Anderson /
Isabel Petre /Catherine Miles
020 7466 5000
GJA Ltd(General Public Relations)Fran Elkin / Melissa Edwards
020 8840 0040Notes to
Editors
IBNetIBNet floated on the Alternative Investment Market ("AIM") of the
London StockExchange in March 2000 and is currently trading at 81.5p.
(This is above itsissue price of 55p, and IBNet is one of only three
technology companies whichfloated in the first quarter of last year
to have ended 2000 in thisposition). IBNet provides continuous
surveillance of the Internet, using sophisticated spidering
technology, enabling companies to watch for activity which could be
damaging to them ranging from share price manipulation to the sale of
fake or stolen goods.
END
