GMH Gaming VC Hldgs

RNS No 7358m
GROSMONT HOLDINGS PLC
11 June 1999

Investment in Kapok 2050 Limited

Grosmont Holdings plc ("Grosmont") announces that it has today completed an
agreement to invest #250,000 in cash in Kapok 2050 Limited ("Kapok") which
trades as Kapok.com.

Kapok has spent the last two years developing a turnkey solution to businesses
wanting an online trading presence on the Internet.  Kapok is launching its
range of FirstWeb community builder tools in September 1999.  With these tools
users will be able to create a fully functional and scaleweb presence allowing
them to communicate and transact online.

The FirstWeb tools will be equally valuable to special interest groups and
industry forums in creating their own web presence.

This investment is in accordance with the change in investment strategy
outlined in Grosmont's circular to shareholders dated 1 June 1999 in which it
was explained that Grosmont will focus its investment strategy solely on
Internet and e-commerce companies.  The directors of Grosmont believe that,
although Kapok is not yet profit making, it satisfies the investment criteria
set out in that circular including, in particular, the potential to be an
independent quoted company in the medium term.

END



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