Update

Interregnum PLC
21 December 2005


RNS Announcement

21 December 2005

                                INTERREGNUM PLC


                                 Trading Update


Interregnum plc, the technology merchant bank, provides a trading update for the
six months ending 31 December 2005.  Interregnum's revenues for the period are
over £6m, which represents a 90% increase over the same period last year.  The
portfolio has increased in value and Interregnum has achieved operational
profitability.


Trading Update


Interregnum's consolidated revenues for the six months ending 31 December 2005
(H1 2005-6) will be over £6m (H1 2004-5: £3.3m).  This reflects a significant
increase in the performance of all three of Interregnum's operating companies;
Interregnum plc, Audio Visual Machines Ltd (AVM) and Yospace Ltd.


Highlights from the key components of Interregnum's business are as follows:


Quality and quantity of advisory deals increasing steadily:


   •Advised on the sale of a £40m portfolio to Coller Capital, which
    generated £700k in net success fees to Interregnum.
   •Client portfolio valuation exercise completed in a month which brought in
    £125k in fees to Interregnum.
   •Interregnum's US operations are growing steadily - DestiNY USA has
    contributed £500k of revenue in the period and the first two significant
    non-Destiny US client mandates have been signed.
   •Eight new corporate finance mandates secured in the period.


Operational subsidiaries and investments performing well:


   •AVM is growing rapidly: November 05 results showed £776k in revenue, with
    £72k profit before tax.  AVM is on track to achieve full year targets
    following the successful acquisition of Video Meeting Company in September
    05.
   •As previewed in the Annual Results for 2004-5, Yospace revenues are
    growing steadily and it has reached operating profitability month-on-month.
   •The funding for Red-M Ltd was completed in December 05 with a successful
    private placing raising £4.6m.  The business is well-funded to achieve its
    growth strategy.  Interregnum now owns approximately 20% of the issued share
    capital of Red-M, in addition to some secured debt.
   •Respond Ltd is trading very profitably.  It is generating cash and
    continuing the repayment of debt to Interregnum ahead of schedule.
   •In a new addition to the portfolio, Interregnum received shares in
    Retento Ltd valued at £180k (based on the last rights issue pricing), earned
    as part of its merchant banking relationship.  Retento is the holding
    company for Prevx, a next-generation security software provider 
    (www.prevx.com).


Interregnum Chairman and CEO, Ken Olisa, commented: 'I am delighted with this
performance.  The results of the first half prove that the technology merchant
banking model that Interregnum has pioneered is both profitable and
value-creating.'


                                    - Ends -


Contacts:

Interregnum                                              020 7494 3080
Ken Olisa, Chairman and CEO

Merlin (PR advisers to Interregnum)                      020 7653 6620
Rebecca Penney

Notes to Editor


Interregnum plc (www.interregnum.com) is a technology merchant bank listed on
London's Alternative Investment Market (symbol: ITR).  Established in 1992,
Interregnum buys, sells, advises, invests in and operates technology companies.
Its advisory services include corporate finance, IP exploitation and commercial
due diligence.  The company's clients are principally corporates, government,
technology entrepreneurs, advisors and investors.







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            The company news service from the London Stock Exchange