Just £332m to raise

The Diary extends a warm welcome to Sir Anthony Cleaver, who has been appointed chairman of UK e-Universities Worldwide, the new name for the e-University. Sir Anthony, a major collector of public and private appointments, is currently chairman of the Medical Research Council and a former chief executive of IBM UK.

Education secretary Estelle Morris last week warned David Young, chairman of the Higher Education Funding Council for England, that "the council should ensure effective mechanisms are in place... to secure the viability of eUniversities as a self-financing business".

The cost of establishing UK e-Universities Worldwide is put at £400 million. Over the past year, the government has provided £14 million of the £62 million over three years allocated to the project. Sun Microsystems has signed a deal understood to be worth £5.6 million. Which leaves Sir Anthony with the task of raising £332 million.