Pressed/Net Install 12.04 LTS

So I mounted a 12.04 LTS ISO, exported it via apache. Goy my netinstall files in place. Pointed Foreman to my install media the Preseed config files run. Life is good.

Server comes up, I run apt-get update and blam:

: Failed to fetch http://myhost:80/foreman_media/ubuntu-12.04.2-server-amd64/dists/precise-updates/main/source/Sources  404  Not Found

W: Failed to fetch http://myhost:80/foreman_media/ubuntu-12.04.2-server-amd64/dists/precise-updates/restricted/source/Sources  404  Not Found

W: Failed to fetch http://myhost:80/foreman_media/ubuntu-12.04.2-server-amd64/dists/precise-updates/universe/source/Sources  404  Not Found

W: Failed to fetch http://myhost:80/foreman_media/ubuntu-12.04.2-server-amd64/dists/precise-updates/multiverse/source/Sources  404  Not Found

W: Failed to fetch http://myhost:80/foreman_media/ubuntu-12.04.2-server-amd64/dists/precise-updates/main/binary-amd64/Packages  404  Not Found

W: Failed to fetch http://myhost:80/foreman_media/ubuntu-12.04.2-server-amd64/dists/precise-updates/restricted/binary-amd64/Packages  404  Not Found

W: Failed to fetch http://myhost:80/foreman_media/ubuntu-12.04.2-server-amd64/dists/precise-updates/universe/binary-amd64/Packages  404  Not Found

W: Failed to fetch http://myhost:80/foreman_media/ubuntu-12.04.2-server-amd64/dists/precise-updates/multiverse/binary-amd64/Packages  404  Not Found

Clearly these precise-* locations are not part of my install media, hence the error.

Do I need to make the the precise-* locations available in my install media?

Would it be possible to use local install media for the install and local/external repos for the updates?

Install from myhost.com
Use archive.ubuntu.com or myaptrepo.com for updates

How would this appear in my preseed file?

Any help would be great.

Ta