1

                                                               Exhibit (a)(1)(I)

     The following press release was disseminated on July 18, 2001 with respect
to the proposed acquisition by NewMedia SPARK PLC (LSE: NMS) of GlobalNet
Financial.com, Inc., (Nasdaq: GLBN / LSE: GLFA).

GLOBALNETFINANCIAL AND NEWMEDIA SPARK PLC
ANNOUNCE AMENDMENT TO MERGER AGREEMENT RESULTING IN CASH TENDER OFFER

     SANTA MONICA, Calif. and LONDON, July 18 /PRNewswire/ --
GlobalNetFinancial.com, Inc., (Nasdaq: GLBN; LSE: GLFA) ("GlobalNetFinancial")
and NewMedia SPARK plc (LSE: NMS) ("SPARK") today announced that they had
amended their previously-announced merger agreement to enable SPARK to acquire
all of the outstanding shares of GlobalNetFinancial pursuant to a cash tender
offer at $0.36 per share for each share of Common Stock and $0.036 per share for
each share of Class A Common Stock of GlobalNetFinancial.

     The merger agreement was amended to provide for the cash tender offer so
that SPARK could expedite and simplify completion of the acquisition of
GlobalNetFinancial. The Boards of both companies approved this amended
transaction unanimously. The GlobalNet Board received a favourable fairness
opinion from Houlihan Lokey Howard & Zukin.

     Following completion of the cash tender offer and necessary approvals,
SPARK would consummate a merger in which all of the remaining GlobalNetFinancial
shareholders will receive the same price paid in the tender offer in cash. The
transaction is subject to regulatory approvals and to other customary
conditions.

     GlobalNetFinancial and SPARK had previously announced the execution of a
merger agreement pursuant to which holders of GlobalNetFinancial Common Stock
would receive 1.88 ordinary shares of SPARK and holders of GlobalNetFinancial
Class A Common Stock would receive .188 ordinary shares of SPARK.

     The description contained herein is neither an offer to purchase nor a
solicitation of an offer to sell shares of GlobalNetFinancial. At the time the
tender offer is commenced, SPARK will file a Tender Offer Statement and
GlobalNetFinancial will file a Solicitation/Recommendation Statement with
respect to the offer. The Tender Offer Statement (including an offer to
purchase, a related letter of transmittal and other offer documents) and the
Solicitation/Recommendation Statement will contain important information that
should be read carefully before any decision is made with respect to the offer.
The offer to purchase, the related letter of transmittal and certain other
documents, as well as the Solicitation/Recommendation Statement, will be made
available to all shareholders of GlobalNetFinancial, at no expense to them. The
Tender Offer Statement (including an offer to purchase, a related letter of
transmittal and other offer documents) and the Solicitation/Recommendation
Statement will also be available at no charge at the SEC's website at
www.sec.gov.

     This release contains forward-looking statements, which are made pursuant
to the safe-harbor provisions of the private securities litigation reform act of
1995. Expressions of future goals and similar expressions reflecting something
other than historical fact are intended to identify forward-looking statements,
but are not the exclusive means of identifying such statements. These
forward-looking statements involve a number of risks and uncertainties, some of
which are out of the control of GlobalNetFinancial and SPARK. Accordingly,
actual results could differ materially from those discussed in this release. A
wide variety of factors could cause or contribute to such differences and could
adversely impact revenues, profitability, cash flows and capital needs. A more
complete listing of cautionary statements and risk factors is contained in the
company's report filed with the Securities and Exchange Commission. None of the
companies undertakes any obligations to revise or update any forward-looking
statements in order to reflect events or circumstances that may arise after the
date of this release.

     A circular requesting the approval of SPARK shareholders to this
transaction will be despatched in due course.