Appointment

Interregnum PLC 7 December 2001 Friday 7th December 2001 PRESS RELEASE INTERREGNUM PLC Ian Taylor MP appointed Managing Director of Corporate Venturing Interregnum plc ('Interregnum'), the IT investment and advisory company, today announces that it has appointed Ian Taylor MP (for Esher and Walton), the former DTI Minister responsible for the UK's IT sector from 1994 to 1997, as Managing Director of its Corporate Venturing division at Interregnum with immediate effect. Ian joined Interregnum in October 2000 as a non-executive director and now assumes an immediate executive directorship role. Interregnum's Corporate Venturing division has been established to foster 'cross-sector' corporate venturing partnerships between non-technology businesses and early stage IT firms to achieve a range of benefits. These include the strategic and tactical application of leading-edge technologies to achieve competitive advantage, as well as to source attractive investment opportunities. Interregnum has a proven track record in corporate venturing dating back to the spin off of adaptive from Abbey National in 1996 and the publication of its seminal report, 'Cross-sector Corporate Venturing: The Opportunity', which was produced in 1999 in partnership with Computer Weekly and Certus. The Corporate Venturing division will operate alongside the existing Venture Marketing, Venture Capital and Research and Consulting divisions. Ian Taylor (who was in investment banking for 18 years before entering Parliament in 1987) is currently a director of the following companies: - Screen plc - EURIM (European Information Society Group Ltd.) - OneMonday Group plc - Fentiman Consultants Ltd. - Speed-trap Ltd - Radioscape Ltd. - Hudson Venture Partners Ltd He has, within the previous five years, been a director of the following companies: - Navision Software (UK) Ltd. - Technology Two Thousand Ltd - Satellite Observing Systems Ltd More... As a result of his executive role, Screen plc, RadioScape Ltd and Speed-Trap Ltd will become clients of Interregnum. Commenting on this appointment, Ken Olisa, Chairman of Interregnum, said: 'We are delighted that Ian has agreed to increase his contribution by taking a more executive role. His unparalleled experience in technology, finance and European economic affairs makes him ideally qualified to spearhead our Corporate Venturing activities across Europe. 'We believe there are considerable international opportunities for 'cross-sector' corporate venturing, where corporations are operating in an increasingly competitive environment and require the professional expertise Interregnum offers in advising them on investment partnerships with early stage IT firms. We believe that Ian's new role will add considerable momentum to our plan to become the leading pan-European IT investment and advisory firm.' - Ends - For further information please contact: Interregnum plc Tel: 020 7494 3080 Ken Olisa, Chairman Pip Creed, Senior Marketing Executive Merlin Financial Tel: 020 7606 1244 Paul Downes/Vanessa Maydon NOTES TO EDITORS Interregnum plc * Interregnum plc ('Interregnum') is an IT investment and advisory company. It works with high-potential IT entrepreneurs to develop, resource and implement aggressive, marketing-led, value-building strategies which ' transform technology into wealth'. * It provides both intellectual and financial capital to companies from conception to exit including: - Venture Marketing: working as non-executive directors with IT companies to develop, fund and implement aggressive business strategies; - Research & Consulting: working with innovators and investors on specific projects where the critical analysis or development of strategies is involved; - Venture Capital: co-investing with institutional and private investors. Interregnum is also raising a £75 million venture capital fund. * Interregnum - (www.interregnum.com) is headquartered in London with an office in San Francisco, USA, and associates in Silicon Valley and New York. The company currently employs 29 people. * It currently has a portfolio of over 30 IT and IT-related investments with holdings principally in hardware, software, services and internet infrastructure businesses. * Its recent investments include: - Adaptive: £500,000 in an enterprise repository software firm - Respond: £2 million in a CRM software and services vendor - Nanomagnetics: £500,000 in an information storage materials company - Computerwire: £500,000 in an online IT intelligence researcher and publisher - Vocalex: £1 million a speech recognition software company - Yospace: £750,000 a market leading wireless technology software company - Link: £1 million a developer of web-based collaborative software * Interregnum floated on the Alternative Investment Market ('AIM') in March 2000. At 5 December 2001, it is capitalised at £22.5 million.