SECURITIES (DISCLOSURE OF INTERESTS) DAILY SUMMARIES - GEM                          PRINTED: 07/04/00  PAGE:   1
                                                        DIRECTORS'/CHIEF EXECUTIVES' NOTIFICATIONS REPORT - B
                                                            (GRANTS, ASSIGNMENTS AND EXERCISES OF RIGHTS)

 STOCK NAME : iMerchants                     (8009)

       Director/Chief Executive        G/E     Class                 Company Name                 Quantity       Exercise Period   Ex. Price  Consideration
 ------------------------------------  --- ---------------  -------------------------------  ------------------  ---------------  ---------- ---------------
 JOHNSTON MATTHEW P                     G  ORD              iMERCHANTS LIMITED                     11,670,000                         1.480                1

                                                                     *****  END OF REPORT  *****