Investment in Yospace

Interregnum PLC 12 July 2001 Thursday 12th July 2001 INTERREGNUM PLC £1 Million Investment in Yospace Interregnum plc ('Interregnum'), the IT investment and advisory company, today announces that it has led the first round fundraising into Yospace Limited (' Yospace' or the 'Company'), a market leading wireless technology software company. The fundraising comprises convertible loan stock of £750,000 from Interregnum and convertible loan stock of £250,000 from Advantage Technology Fund. The convertible loan stock converts at a discount to the next valuation round of between 30-75 per cent, with the discount depending on elapsed time until that next round of funding. Otherwise it converts in March 2002. Yospace provides wireless application protocol (WAP) software to mobile telephony carriers and internet portals world-wide. It will use the funding to develop and accelerate the deployment of its Java based applications infrastructure into the GPRS (General Packet Radio Signal) and 3G (third generation mobile telephony) markets and to expand its operations geographically. Yospace is currently headquartered in London, employing 30 staff with annualised turnover in excess of £1.4 million for year ended 31 December 2000. The Company has over 1,000 customers for its emulator product including blue chip global organisations such as AOL, Vizzavi Europe, Genie, Xfera, Sprint and British Airways. In addition, the Company has a unique WAP development tool, which is also embodied as part of the Sun Microsystems Forte for Java environment, and is used by thousands of developers world-wide for building and testing wireless applications. Commenting on the investment, Andrew De Abreu of Interregnum said: 'Interregnum intends to invest in the driving forces of GPRS and 3G revolution. Carriers are racing to implement these new technologies, and Interregnum believes the winners in the race will be those carriers who can best develop new service offerings with emerging technology partners. 'Interregnum has developed a Wireless Investment Strategy designed to accelerate the emergence of these technology partners. Yospace will form the cornerstone of this investment strategy as the company leverages a strong existing position to introduce its Java based technology platform. This platform will allow carriers and portals to showcase application software and deploy these applications to the end user, where Yospace technology will manage the user experience, thereby promoting customer loyalty and retention. 'Interregnum will continue to seek out and invest in wireless applications providers, as well as other wireless technologies at both ends of the value chain.' -Ends- For further information please contact: Andrew de Abreu Pip Creed, Senior Marketing Executive Interregnum plc Tel: 020 7494 3080 Vanessa Maydon Merlin Financial Tel: 020 7606 1244