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Oxford Technology (HVN)

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Monday 27 September, 1999

Oxford Technology

Inv. in Valid Info.Systems

27 September 1999

                         Valid Information Systems Ltd

Oxford Technology VCT has invested a further 60,000 in Valid Information Systems
Ltd for 40,000 ordinary shares at 50p ecah, for an additional 2.7% equity, and
for 40,000 £1 redeemable preference shares.  The investment is part of a total
investment of £100,000, the remaining £40,000 of which has been subscribed to by
existing shareholders.

Valid Information Systems supplies computer systems which image and index
documents enabling to access the documents electronically.  The system allows
document to be recalled at any terminal connected to the network merely by
typing in a few key words.  Valid originally specialised in suppying its
software to solicitors, but in the last year also begun to supply local
authorities.  The investment is to provide further working capital for the

For further information, please contact Oxford Technology VCT on 01865 784466.