This share at approx. 30p. is beginning to recover having been a great deal higher in past years. Worth a look. Quite a bit of enthusiasm for it on ADVFN. They keep coming out with good news. Not a great many shares in issue so it will not take a great deal of buying for it to move considerably.

Fibernet continues progress in signing new orders and reducing cash burn

Fibernet Group plc, the communications solutions company, today reports on
progress for the third quarter of the financial year, ended 31st May 2003
and for the second half-year to date.

Highlights:

New order intake continues to be positive:
* Total value of new contracts (TCV) signed in Q3 = 8.6m
* TCV already signed in Q4 = 12.0m
o H2 2003 (to date): 20.6m
o H1 2003: 26m
o H2 2002: 27m
o H1 2002: 10m

Funding position remains strong; cash balance:
* Q3 2003: 24.4m
* Q2 2003: 26.1m
* Q1 2003: 24.4m
* FY 2002: 34.3m

Charles McGregor, Chief Executive, comments:

"Fibernet has experienced another positive quarter of trading.

We have again signed an encouraging amount of new service contracts,
demonstrating both the demand for and our ability to provide bespoke,
high-value, managed network services.

Since the end of the half-year, Fibernet has signed 20.6m of new contracts,
which puts us firmly on course to continue the positive run rate achieved in
the previous two half years.

We continue to reduce our cash burn rate and retain sufficient cash to fund
our current business plan."

Trading

Sales performance was again positive this quarter and we have signed 8.6m
of new contracts (excluding renewals) in the three months ended 31st May
2003. New customers signed in the third quarter include royalblue Group,
Wellington Underwriting and Reliance Mutual.

Additionally, since the end of the third quarter, we have signed further
significant contracts, taking the total value of new contracts signed in the
second half-year to date to 20.6m. This puts us firmly on course to
continue the run rate achieved in the previous two half years.

Fibernet continues to transact more business with existing customers
including, among others, JP Morgan Chase, HSBC, Opal Telecom and Lloyds TSB.

Our performance in renewals for those customer contracts that have come to
the end of their term remains healthy.

In what remains an even more challenging business environment than the UK,
our operation in Frankfurt is also making good progress. New customers
signed to the Frankfurt Carrier Ring include Belgacom and Genesis, taking
the total number of members from 21 at the end of the second quarter to 33
at the end of the third quarter.

Product Development

During the third quarter we have moved from customer trials to full delivery
of our new second generation Ethernet services and are pleased to report
encouraging demand, securing our first orders during the third quarter.

The third quarter has also seen the launch of our National Carrier Ring
service, extending the reach of successful London Carrier Ring to operators
in a further six cities: Bristol, Birmingham, Manchester, Leeds, Glasgow and
Edinburgh.

Summary

The third quarter has seen Fibernet continue to perform well against all of
our key performance indicators: new orders, cost control and cash burn. We
retain our confident outlook for the business going forward.

Things look very healthy sober :0)
Tris