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Interregnum PLC (PMG)

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Thursday 02 January, 2003

Interregnum PLC

Interregnum Client

Interregnum PLC
02 January 2003

2nd January 2003

                                 PRESS RELEASE

                                INTERREGNUM PLC

              Interregnum client to be acquired by USA Interactive

Interregnum plc, an information technology investment and advisory company, has
announced that USA Interactive has entered into an agreement to acquire uDate
(NASDAQ:UDAT), one of Interregnum's advisory clients, for a value of
approximately US$150m. The transaction is subject to standard closing conditions
and regulatory approval, but is expected to close during the first half of
calendar year 2003.

Interregnum has provided advisory services to uDate since its formation in 1998,
which have been key to the formulation and execution of uDate's business
strategy. In recognition of the value added, Interregnum will receive a
substantial success fee upon completion of the transaction; this fee will have a
positive material impact on Interregnum's revenues during the second half of its
financial year 2002-3. In addition, Interregnum has an equity stake of 75,000
shares in uDate.

Ken Olisa, Chairman and CEO of Interregnum said:

'This is a good example of what we can achieve for our investee companies and
clients.  The transaction illustrates the value of Interregnum's advisory
services and confirms the importance of long-term relationships with our
clients. It also re-affirms our pursuit of four previously-declared priorities:
to increase fee income from our advisory work, to reduce costs and overheads, to
build and preserve value in the portfolio, and to conserve our own investment

                                    - Ends -

For further information, please contact:

Interregnum plc                                       020 7494 3080
Ken Olisa, Chairman and CEO

Merlin Financial                                      020 7606 1244
Paul Downes/
Vanessa Maydon                                        07802 961 902 (mobile)

Notes to Editors:

About Interregnum:

•        Interregnum plc is an information technology investment and advisory
company. Founded in 1992 by Ken Olisa, Interregnum is headquartered in London,
employs 20 people, and works with technology companies, entrepreneurs, and other
investors to transform technology into wealth.

Interregnum provides both the intellectual and financial capital which
technology companies need at each stage of their life cycle, from conception
through to exit. 250+ man-years of experience in the technology and corporate
finance sectors are embodied in proprietary methodologies such as the Four
Pillars of Value (c) to support offerings in research, market assessment,
valuation, due diligence, acquisition, venture capital, corporate venturing, and

Interregnum is quoted on the London Stock Exchange's Alternative Investment
Market (symbol: ITR), and is regulated by the Financial Services Authority.

About uDate:

•, Inc. is a global online personals group with members in more
than 100 countries around the world as of September 30, 2002. The Company
operates two Web properties and, Inc. is a
public company trading under the ticker symbol UDAT on the OTCBB exchange.

                      This information is provided by RNS
            The company news service from the London Stock Exchange