Directorate Change

Interregnum PLC
02 March 2006

Embargoed until 0700hrs 2 March 2006


                                Interregnum plc

           Chairman and Founder to Step Down Following Proposed Sale
                             of Portfolio Companies


The Board of Interregnum plc (the 'Company'), the merchant bank, announces today
that it has conditionally agreed to sell a portfolio of assets ('the portfolio
companies') to funds advised by Greenpark Capital Limited for a consideration of
£5 million in cash before transaction costs. The transaction also gives
Interregnum potential deferred consideration in the form of a share in profits
generated from the sale of the companies in the future.

Following the sale of the portfolio companies, Ken Olisa, the Non Executive
Chairman of Interregnum, has decided to step down from the Board with immediate
effect. Existing Non-Executive Director Colin Goodall, will become Non-Executive
Chairman in his place.

Ken Olisa founded Interregnum plc in 1992 and is leaving to pursue other
business interests.  He remains a Non-Executive Director of Reuters plc, Open
Text Inc and BioWisdom Ltd.

Ken Olisa said, 'We have been through a number of cycles during the last
fourteen years  at Interregnum, and it is a  fact  that we are one of the very
few technology houses that  has survived the immense challenges the industry has
faced since the height of the 'dotcom' boom in 1999    - an achievement of which
I am very proud. However, it was clear to me by the end of last year that a
change of strategic direction was required, as was a fresh approach to the
management of the company.  I regard  the restructuring we have initiated and
recently announced, culminating in the sale of the portfolio today, to represent
the end of one  chapter and the beginning of another as Interregnum broadens its
focus beyond technology alone.  I am therefore delighted to be leaving the firm
in the very capable hands of our new CEO - Niall Doran. I wish him and the team
every success, not least because I remain a substantial shareholder.'

Niall Doran, Chief Executive of Interregnum said: 'Ken and Interregnum have
become something of a legend within the technology sector and I am enormously
grateful to him for the support and counsel that he has provided to me since I
joined the company in 2004. He will be a tough act to follow as we drive the
newly combined Quayside and Interregnum forward.'


Details of the Portfolio Sale

The key Portfolio Companies are:

Adaptive Inc
Audio Visual Machines Ltd
Future Route
Oilcats
Metapraxis Ltd
Red-M Group Ltd
Respond Group Ltd
Yospace Technologies Ltd

The sale of these assets forms part of the Group restructuring plan, set out by
the Board in January 2006, aimed at improving further Interregnum's investment
and deal origination and reducing costs.

The results of Yospace Technologies Ltd and Audio Visual Machines Ltd are
included in the Interregnum consolidated financial statements for the twelve
months ended 30 June 2005. During this period they generated a loss before
interest and tax of £0.4 million on turnover of £3.1 million. The portfolio
companies had a book value of £6.7m as at 30 June 2005.

Together with the £10m proceeds from the recent institutional placing the net
proceeds of the sale will be used to expand our principal finance and syndicated
finance investment activities.

The disposal of the Portfolio Companies is conditional upon the approval of
shareholders at an extraordinary general meeting of the Company ('EGM').  A
circular to shareholders convening the EGM and containing further details of the
sale will be sent to shareholders shortly.

Ends

Enquiries to:

Niall Doran
Chief Executive
Interregnum plc                                               020 7494 3080

Ken Olisa
Founder
Interregnum plc                                               0207 494 3080

Madano Partnership
PR advisors to Interregnum
Matthew Moth/Toby Wilkinson                                   0207 593 4000

Notes to editors:

Further information on the portfolio companies is set out below:

Respond

Respond is a software company which helps companies and government bodies
deliver customer service excellence and regulatory compliance, through the
implementation of customer complaint handling and feedback. Respond is now
recognised as the leader in its field, with more than 40,000 users of its
software in over 800 organisations.

Audio Visual Machines

AVM, established in 1990, is an audio visual solutions provider. The company
designs, supplies, programs and supports complex audio visual systems ranging
from boardroom presentation systems to IP-based video conferencing networks.
Acquired VMC from Unique group in Oct 05.

Yospace

Yospace provides multimedia messaging, personal storage and handset simulation
software and services to the mobile communications industry. Yospace clients
include over 1,500 mobile development companies, internet portals and mobile
operators such as Vodafone, O2, Orange and 3.

Red-M

Red-M Group (formed from the merger of CDS and Red-M Communications) is a
software products and services provider focusing on wireless, with unique
intellectual property relevant to wireless infrastructure and security.

Adaptive

Adaptive is a web-based enterprise architecture knowledge repository solution
provider. Their products and services enable organisations to maximise the value
of their enterprise architecture initiatives, through exceptionally capable and
feature-rich support for the full scope of Enterprise Architecture planning and
implementation. By providing a 'big picture' view - and with their unique
capability to leverage disparate data sources into a holistic, secure enterprise
architecture framework - Adaptive provides management, in both business and IT,
with the ability to plan, organise, lead and monitor change in a much more
rigorous and effective manner.

Future Route

Future Route commercialises machine learning technologies for automatic rules
generation, pattern detection & accurate data modelling. Future Route's products
focus on fraud detection and automatic rules generation for fraud management
systems. Future Route's Machine Learning Predictive technology is called iHexTM.
The iHexTM multi-component architecture intelligently detects and learns about
patterns in aggregated and relational data sources. iHexTM machine learning
systems can be embedded into existing software applications and provided via
hosted web application services.

Metapraxis

Metapraxis is an international management consultancy and software group
specialising in Business Performance Visualisation. Their Consulting Services
Division engages in consulting projects with multinational client corporations
with annual sales revenues normally in excess of $500m.

Oilcats

Oilcats is a company providing content management solutions (cleansing,
classification, enrichment for structured product data) to the Energy sector
globally. Clients include leading Oil companies.


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