Tipped by the independent 2/01/2004

........."And so to our traditional "wild card". Pipex Communications, formerly known as GX Networks, is a telecoms company created by one of the entrepreneurs behind Ukbetting, Peter Dubens. It has been assembled from six smaller players. The ambitious company is generating cash for the first time but is still not widely followed in the City. It could be an undiscovered gem".

Pipex Communications PLC
12 March 2004

SCHEDULE 10



NOTIFICATION OF MAJOR INTERESTS IN SHARES




1. Name of company

Pipex Communications plc

2. Name of shareholder having a major interest

Aviva plc ( and a subsidiary Morley Fund Management Limited)

3. Please state whether notification indicates that it is in respect of holding of the shareholder named in
2 above or in respect of a non-beneficial interest or in the case of an individual holder if it is a
holding of that person's spouse or children under the age of 18.

As above

4. Name of the registered holder(s) and, if more than one holder, the number of shares held by each of them

BNY Norwich Union Nominees Limited 3,634,200 shares

Chase GA Group Nominees Limited 36,662,600

CUIM Nominees Limited 16,103,200

5. Number of shares/amount of stock acquired

5,531,000

6. Percentage of issued class

Not stated

7. Number of shares/amount of stock disposed

N/A

8. Percentage of issued class

N/A

9. Class of security

Ordinary 1p shares

10. Date of transaction

10 March 2004

11. Date company informed

11 March 2004

12. Total holding following this notification

56,400,000

13. Total percentage holding of issued class following this notification

3.14%

14. Any additional information



15. Name of contact and telephone number for queries

Stewart Porter 020 8957 1317

16. Name and signature of authorised company official responsible for making this notification.

Stewart Porter, Finance Director

Date of notification: 12 March 2004

cheers GF,

Good news, a vote of confidence in PXC and hopefully will get the share price moving up again.

Broadband MOT - Mar 2004
"Eclipse Internet and Nildram have consistently traded places at the top of the speed league table at www.adslguide.org.uk during the latter half of 2003.
'Sebastian Lahtinen, co-founder of ADSLguide.org.uk, has his own particular commendation. "There are always market leaders in terms of ISPs trying to push the boundaries of speed, price and service," he says. "I would say Pipex has probably been the leader thus far on a retail level". (Taken from Broadband World)

Why is there so much selling ?

IMHO. Maybe peeps taking profits in the run up to fin. yr end. ? then will see SP move up ?

the companies got potential, but the potential goin the wrong direction for shareholders.. how come price is droppin as results r coming out..

are we expecting bad news at the end of the month ?

i hav no idea, what do u reckon.. the last three weeks has shown a decline in the share price from 12.5 to 9.75.. if the results were going to be so good, u wont expect this must decline leadin to the results.. its just my opinion!!!

someone must know whats going on. there's was so much positive talk, then nothing.
I will ride it out as i believe the company is in good shape in the long term.

yes, its hard to know what to do. I hold quite a few shares in Pipex and cant believe the share price is so low right now. methinks we just have to sit it out!

In my opinion we are seeing a combination of the general market weakness and a bit of shaking going on by the MMs.

Doug

I tend to agree with you dclinton, its seems that MM's are running around like headless chickens out of a raft of negative global & national polital woes spurned on by terrorism atrocities. Look at what happened to the stock market after 9/11 and now Madrid albeit with not so sharp a drop but never the less the desired effect and a great opportunity for Bin Laden's entire Al Qaeda network to guarantee profit from shorting. Question is will the MM's hold steadfast in support of the strength in PXC and UK market or wobble on the weakness of US ecconomy

Some people also switching into HER I believe.

Keep calm.

Norwich Union bought a big wedge in March.

End of financial year tidying and terrorism causing blip.

Fundamentals are sound.

PXC buyin HER probably just a rumour to buoy HER price.

I see things are changing for the better this morning. on the up

Strong gain today and HER should also benefit.

How much will this possible offer announced today effect the share price if it goes ahead?

Hi

Stupid question (Like always)..

This offer, who wants to buy who??? The wording is not clear, it looks like Pipex are looking to buy Host Europe, but if thats the case why is Pipex going up and Host Europe going down.



Host Europe plc ('Host Europe' or the 'Company')
Possible Offer



The Board of Host Europe announces that it is in discussions with Pipex
Communications plc ('Pipex') which may lead to an offer to acquire the entire
issued and to be issued share capital of the Company.



In the event that the current talks were to lead to an offer being made for the
entire issued and to be issued share capital, the Host Europe Directors
currently consider it likely that the total consideration in any such
prospective offer would be in cash at or around 31.2m, representing 2.5p per
share on a fully diluted basis.



This announcement is being made with the agreement of the Board of Pipex.

Pipex want to buy Host Europe. As to why the price of HER is going down and PXC up, I can't offer any explanation.

It may be me being stupid, but the reason why PXC is going up is that if the acquisition does go through at the price mooted, it would be a bargain for PXC. Her has gone down I think as there was a broker note suggesting it could go up to 5p. As HER is not too far off from 2.5, it has not been bought at a premium as sometimes these things are, so does not offer particularly good value to HER shareholders especially those who were looking for it to go higher.

Bit of a Noddy way of putting things, but I'm sure Goldfinger will be around to correct me if I'm wrong!!!