Investments

Interregnum PLC
12 February 2002


For immediate release

12th February 2002

                                 PRESS RELEASE


                                INTERREGNUM PLC


             £0.75 Million Investment in Adaptive and ComputerWire


Interregnum plc ('Interregnum'), the IT investment and advisory company, today
announces that it has invested a total of £750,000 development capital into
Adaptive Ltd ('Adaptive'), and ComputerWire plc ('ComputerWire'). ComputerWire
will receive equity funding of £500,000 and Adaptive, £250,000, the latter being
the first tranche in a commitment totalling £650,000 from Interregnum. The
monies will be used by the companies to accelerate their sales and marketing
capabilities and to support product development.

Adaptive specialises in helping global businesses to remain agile and respond
faster to market changes, whilst reducing costs and minimising risk. This is
achieved by addressing a number of common information related business and IT
initiatives, through the rapid implementation and deployment of Enterprise
Repository solutions. The Adaptive Product Portfolio addresses significant and
leading-edge developments such as Component Management and Enterprise
Architectures, to leverage its existing strength and position as one of the
leading vendors for global information management solutions.

The capital will be used to support growth through an expanding Original
Equipment Manufacture (OEM) channel strategy, building on the success of
Adaptive's core product portfolio to date. Adaptive has recently developed new
products including a new version of its acclaimed repository platform technology
Adaptive FoundationTM and Adaptive Component ManagerTM, a web-deployed solution
for managing information system assets across the enterprise. Its customers
include Abbey National, BBL (Bank Brussels Lambert), Credit Suisse, Deutsche
Bahn, Dun & Bradstreet, Royal Bank of Scotland, Royal & Sun Alliance, Telecom
Italia, UBS and UBS Warburg.



ComputerWire is a global business information services company exclusively
focused on the IT Industry. It provides news, opinion, research reports and a
range of advisory services for IT vendors and services companies, large
corporates, public sector departments and the global investment community. The
company has over 15 products that are individually delivered to the worldwide
user base, as well as extensive online databases to enable customers to carry
out bespoke analysis. Key products include Computergram, Network Briefing and
Marketwatch.



Commenting on the investments, Ken Olisa, Chairman and CEO of Interregnum said:

'Despite difficult market conditions Interregnum remains committed to investing
in robust and innovative IT companies to enable them to transform technology
into wealth. Adaptive and ComputerWire are both quality businesses, with strong
management teams and very attractive propositions.

'We are delighted to be working so closely with these companies to ensure their
success in the development and implementation of their business and marketing
strategies going forward.'

Colin Fox, Chief Executive of Adaptive, added:

'The capital injection into the business by Interregnum will ensure that we can
maintain our competitive advantage in this dynamic and growing sector of the
software market. Our product offering is essential to large corporates,
especially given the current economic climate, enabling companies to maintain
high levels of customer retention and revenue growth.'

Simon Cattlin, CEO of ComputerWire said:

'This new round of funding, coupled with our recent sales and product
development, places us in a superb position to accelerate our growth within our
three core market areas. ComputerWire will continue to lead our sector with
innovative, relevant & valuable information products and services to the worlds
decision makers.'





                                     -Ends-


For further information, please contact:

Interregnum plc                                         Tel:     [phone]

Ken Olisa, Chairman & CEO

Pip Creed, Senior Marketing Executive

Merlin Financial                                        Tel:     [phone]

Vanessa Maydon/Clare Maciocia



NOTES TO EDITORS

Interregnum plc

  • Interregnum plc ('Interregnum') is an IT investment and advisory company.
    It works with high-potential IT entrepreneurs to develop, resource and
    implement aggressive, marketing-led, value-building strategies which '
    transform technology into wealth'.

  • It provides both intellectual and financial capital to companies from
    conception to exit including:

  • Venture Marketing: working as non-executive directors with IT companies to
    develop, fund and implement aggressive business strategies;
  • Research & Consulting: working with innovators and investors on specific
    projects where the critical analysis or development of strategies is
    involved;
  • Venture Capital: co-investing with institutional and private investors.
    Interregnum is also raising a £75 million venture capital fund.
  • Corporate Venturing - fostering 'cross-sector' partnerships between non-IT
    businesses and early stage technology firms to achieve a range of benefits,
    including the strategic and tactical application of leading-edge
    technologies to achieve competitive advantage, as well as sourcing
    attractive investment opportunities.

  • Interregnum - (www.interregnum.com) is headquartered in London. The
    company currently employs 29 people.

  • It currently has a portfolio of over 30 IT and IT-related investments with
    holdings principally in hardware, software, services and internet
    infrastructure businesses.

  • Its recent investments include:

  • Respond: £2 million in a CRM software and services vendor (May 2001)
  • Nanomagnetics: £500,000 in an information storage materials company
    (September 2000)
  • ComputerWire: £723,000 in an online IT intelligence researcher and
    publisher (May 2000)
  • Vocalex: £1 million in a speech recognition software company (December
    2000)
  • Yospace: £750,000 in a market leading wireless technology software company
  • (July 2001)

  • Interregnum floated on the Alternative Investment Market ('AIM') in March
    2000.

Adaptive

  • Adaptive (www.adaptive.com), headquartered in Bournemouth, was established
    in 1996. It currently has 26 employees and has an office in London and a US
    subsidiary.

  • Interregnum previously invested £ 950,000 in Adaptive in May 2001, along
    with 3i and Abbey National. Unisys also has an equity stake.
  • Interregnum has been working with Adaptive since 1997 when it led the
    Corporate Venturing transaction involving buying out its IPR from Abbey
    National.



Computerwire

  • ComputerWire (www.computerwire.com), set up in 1984, currently employs in
    excess of 80 staff and is based in London with offices in New York, San
    Francisco, Sydney and Paris.
  • Interregnum previously invested £500,000 in ComputerWire in May 2000 as
    part of a £4 million round led by AMP Private Capital. It followed this with
    an investment of £233,000 as part of a £637,050 round made in June 2001,
    which also included investment by AMP and management.


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