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The Very Best Of Bananarama is a compilation album distributed by their UK record label London 90 Records (now a part of the Warner Time Corporation). It is roughly just over twenty calendar years since Bananarama introduced their gimpy frolicking to UK pop music, and the CD endorses this with the words "20th Anniversary" emblazoned on the back of the CD insert. The album contains all their major UK hits from 1982 to 1993 during which period they were signed to London Records. It also features a brand new remix by WIP for Pete Waterman Productions - the so called "Tempus Fugit Mix" which blends "Venus", "I Heard A Rumour" and "Love In The First Degree" into a retro-new-wave sounding remix (think the bass programming in Kylie's "Can't Get You Out Of My Head" and you've got the right sound). The remix is nothing spectacular, but after a few listens you'll wonder how you ever lived without it. Is it just me or are the vocals on "Love In The First Degree" different to that of the single? The tracks on the album are the single versions (and in the cases of most singles, the same as the album versions). The only exception to this, is that the album version (a la The Straight No Chaser Version) of Movin' On is included, rather than the 7" version.

This compilation was released on the 29th October 2001, and a promo single "Tempus Fugit" remix of Robert de Niro's Waiting - Cruel Summer - Na Na Hey Hey has also been issued to add to the hype. Add to that the usual round of promo posters in record shops and other key locales, plus a TV advert all adds up to a considerable amount of effort on Warner's part to sell this record. The TV ad features flash-in-the-pan celebrity Helen from Big Brother scrawling "I Love Bananarama" on a wall (oh don't you just love "make-a-fool-of-yourself-on-national-TV-to-become-instant-celebrity" programmes?).

The compilation is available on CD and cassette, early editions of the CD are distributed with an outer card sleeve which is identical to the CD layout and artwork. The CD insert has a selection of group photos and album and singles sleeves, and the back slip has three pictures of the group that correspond to the changes in line-up. The "Very Best Of" is also the only Bananarama album to date that features individual pictures of all four Bananarama members on the cover.

The album spent three weeks in the UK charts, debuting at #46, peaking at #43, falling to #60 before dropping out of the Top 75.

The Very Best Of Bananarama was re-released again in 2002 to celebrate their "21st Anniversary" with a bonus disc featuring remixes of I Heard A Rumour, Venus, Love In The First Degree, Movin' On, Cruel Summer '89, Only Your Love, Tripping On Your Love, I Want You Back, Nathan Jones, and I Can't Help It. It seems perhaps ironic, that Tripping On Your Love be included in "the very best of" when the single failed to chart in 1991.