RNS Number:8907P
Internet Music & Media PLC
18 September 2003

                                                             To be embargoed for
                                                            18th September, 2003

              Internet Music & Media plc ("IMM" or "the Company")

                             Closure of Subsidiary

IMM announces that the directors of its wholly owned subsidiary, Groovetech
Limited, have resolved that it should cease trading. Groovetech Limited was
established to sell product to the UK and Europe and has never been profitable.

The directors of IMM are assessing the impact of the closure of Groovetech
Limited on the operations of Groovetech LLC, the US subsidiary of IMM. In the
meantime, the directors of IMM have requested that trading in its ordinary
shares on AIM is suspended, pending clarification of the Company's financial
position.

18th September, 2003

                      This information is provided by RNS
            The company news service from the London Stock Exchange

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