Strategic Investment

Evolution Group PLC
26 February 2002





26 February 2002







                            THE EVOLUTION GROUP plc



                 STRATEGIC INVESTMENT IN WICKAM CAPITAL LIMITED




The Evolution Group plc ("Evolution Group"), the AIM listed investment bank
specialising in enabling technologies and retail asset management, today
announces that it has made a strategic investment in Wickam Capital Limited ("
Wickam"), a privately owned investment management company which manages The
Wickam European Fund, a long/short UK and European equity hedge fund.


Evolution Group will be acquiring, subject to regulatory approval, 16% of the
current issued share capital of Wickam for a consideration of £500,000, payable
in cash.


The Wickam European Fund was established in January 2001 as an offshore,
unregulated collective investment scheme using a hedge fund structure to achieve
consistently positive results.  The investment by Evolution Group will provide
Wickam with working capital requirements for the foreseeable future enabling the
company to continue to be managed on a day to day basis by the founding
principals and managers, Ewan Christian and Robin Innes Ker.


Alex Snow, Chairman and Chief Executive of Evolution Group, commented: "We are
delighted to have acquired this stake in Wickam and view this as another
important strategic investment for Evolution Group.  The fund performed
extremely well last year producing an absolute return of +10.81%, which, given
prevailing market conditions, is extremely encouraging.  Whilst the funds under
management currently amount to £7m, we anticipate substantial expansion this
year and our investment will facilitate this growth."


Robin Innes Ker, Chief Executive of Wickam said:  "We are very pleased to have
Evolution Group as a new shareholder. Wickam will benefit strongly by having a
forward thinking independent investment bank to assist the company in growing
its hedge fund business, an area which is still under invested by the investment
community."



                                     -Ends-



For further information please contact:



The Evolution Group plc                                      020 7220 4800


Alex Snow, Chairman & Chief Executive
Richard Griffiths, Deputy Chairman
Graeme Dell, Finance Director


Wickam Capital Limited                                       020 7397 3517

Robin Innes Ker, Chief Executive
Ewan Christian, Director


Hogarth Partnership Limited                                  020 7357 9477

Andrew Jaques, Partner
Georgina Briscoe, Associate




For further information on Evolution Group please go to www.evolution-group.com



Notes to Editors:


The Evolution Group plc is an independent investment bank which provides equity
research, trading, strategic advice and proprietary funding for public and
private companies seeking to identify and develop new enabling technologies
capable of global, commercial exploitation.  Evolution Group's key sectors of
research and expertise are: Wireless and Electronics, IP Exploitation, Emerging
Engineering Technology, Life Sciences (including Nanotechnology), and Software
and Services.  The company publishes research in these areas for institutional
investors and provides due diligence and advisory services to both private and
public companies.


Evolution Group's retail financial services brand is Christows which operates
from offices in London, Bournemouth and Exeter. Christows' principal products
are discretionary portfolio management and specialist OEIC investment
management.


Evolution Group is listed on AIM with a current market capitalisation of about
£100 million.


Wickam Capital Limited provides specialist fund management for professional
investors.  The firm is owned by two founding principals, Ewan Christian and
Robin Innes Ker, who are managers of the main fund, the Wickam European Fund.
The Fund is a Long/Short European equity hedge fund which has the objective of
producing consistently high returns on an absolute return basis.


The managers are bottom up, long/short stock pickers, basing their long and
short decisions on fundamental directional analysis and qualitative judgment.
There is a strong research orientation and extensive use of industry contacts.
The Fund typically runs a concentrated portfolio of 50-70 positions (long and
short), comprising a core portfolio with a trading overlay.  Current funds under
management are around £7m.


Wickam Capital Limited has an agreement in place with Goldman Sachs
International to provide prime brokerage services and the fund administration is
executed by Citco Fund Services (Dublin) Ltd. It is regulated by the FSA.




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