Microsoft, in conjunction with Webfusion, are offering ASP.NET hosting to all UK students for free. This is because of the prohibitive cost of ASP.NET hosting in the UK. The free hosting includes:
Windows Server 2008, IIS 7, 500 MB disk space
SQL Server 2005 database
Support for ASP.NET 2.0, .NET 3.0, classic ASP and PHP.
To get a free account you will need a unique code and an .ac.uk email address. Details on how to get a code will be forthcoming. For those of you who already have a code, go activate it here.