A pound a link is a new concept in online advertising! well, not quite, a similar sites offering a link for a Dollar exists on the website, perhaps A Pound a Link is the first UK based website of this kind.
The concept is quite simple, all the pages of the web of the website are identified by each letter of the alphabet, you can buy a link for one pound from a page that corresponds with the same letter of your website name.
There is an element of bidding in the process though. You can choose to pay more than a pound for your link, in which case you link will be placed higher on the page than the link that cost one pound.