Investment in Commercial Internet Telephony

eVestment Company PLC
20 January 2000

         The eVestment Company Plc ('eVestment')

    Investment in Europe's first commercial internet
                    telephony service
                            
eVestment,   the   internet  and  e-commerce   investment
company, is pleased to announce it has invested £500,000
in  CallServe Communications Ltd ('CallServe'),  Europe's
first commercial internet telephony service.

The  investment  is part of a £3 million private  capital
fundraising by CallServe. CallServe will use the funds to
build  the  company's infrastructure to  meet  increasing
demand for its services within Europe and to develop  and
expand its service offerings.

'The  PC  and the telephone are going to merge,  and  the
internet will be the highway for most of the world's data
and  voice  communications,' said  Paul  Duffy,  managing
director   of   CallServe.  'This  funding  will   enable
CallServe to continue building its place at the forefront
of this revolution in voice communication.'

CallServe's  software allows customers to make  calls  to
any telephone worldwide from their own personal computer,
using  internet  connections  as  a  medium.  Costs   are
significantly   lower  than  those  of  the   established
telecoms  service providers, on average over 60%  cheaper
than BT for long distance calls.

CallServe, www.callserve.com, was established in  the  UK
in  1999  by  media entrepreneur Richard Kuttner  and  IT
consultant Paul Duffy.

             

For further information, please contact:

The eVestment Company Plc
Chris Roberts                               0171 937 4445

Square Mile Communications
Nick Oborne or Stephanie Smart              0171 601 1000



INFORMATION FOR EDITORS


CallServe Communications Ltd (www.callserve.com)  is  the
first   European  based  commercial  internet   telephony
service.  CallServe home and business customers can  make
calls  to  any  telephone  worldwide  from  an  internet-
connected personal computer at costs significantly  lower
than those of the established telecom service providers.

eVestment invests in and takes an active development role
in  young  internet  and e-commerce  related  businesses.
Current investments include eBop, The Share.com, Eighteen
Global,  Infrastructure Defense, Kapok 2050, Stargig.com,
Easier,  Freecom.net  and  Wave  Corporation.   To   date
gameplay.com and Pure Entertainment Games (investments no
longer   held)  and  Freecom.net  and  Wave   Corporation
(investments still held) have floated.

The  eVestment  management team, led by  Oliver  Vaughan,
Chairman,  and Christopher Roberts, Chief Executive,  has
strong  investment  and  management  experience.   Oliver
Vaughan  is a director of a number of companies including
Internet Technology Group and Redstone Telecom.

eVestment  was formed in 1997 and floated  on  AIM  later
that  year.  It raised £9.8 million in December  1999  to
provide funds for further investment.