Hi Andy,
I changed my interfaces file to what you suggested, however it is still not working. Might have something to do with the errors I received, however v4 still works fine? And it was indeed Lucid.
monotoko@www:~$ sudo /etc/init.d/networking restart
* Reconfiguring network interfaces... SIOCADDRT: File exists
Failed to bring up eth0.
[ OK ]
connect: Network is unreachable