Investee Companies

Web-Angel PLC
22 January 2001


   web-angel plc announces third round funding for two
       investee companies reflecting valuations at
            nearly three times original cost
                            
web-angel  plc  ('web-angel'), a Pan European  e-business
and  mobile commerce investor, announces that two of  its
investee  companies,  ETC  (Electronic  Trading  Company)
Limited  ('ETC')  and  DELSY  Electronic  Components   AG
('DELSY'), have secured deals that significantly increase
the value of web-angel's stake in both companies.

*ETC,  an  online insurance company, has entered  into  a
strategic  partnership, backed by funding  and  services,
with  Aon, one of the leading global insurance brokerage,
consulting  services and consumer insurance  underwriting
organization.

*DELSY, a developer of fingerprint sensor technology, has
secured  £2.95 million (EUR 4.65 million) in funding  led
by  Falke Bank AG, the Dusseldorf Investment Bank, giving
a   pre-money  valuation  of  £29.5  million  (EUR   46.5
million).

web-angel's  equity position in these two  companies  now
has   a  total  value  in  excess  of  £2  million.  This
represents  a strong upwards revaluation with Web-angel's
stakes  currently  valued  at  2.8  times  their  initial
investment levels.

Chris Eyles, Chief Executive of web-angel, said:

'We invested in both ETC and DELSY in the 2nd Quarter  of
2000  and  are delighted with the substantial value  that
has  been created within these companies in less  than  9
months.  We  believe  that  we are  able  to  demonstrate
consistent, substantial value creation in the majority of
our  portfolio,  in a short timeframe and in  challenging
market conditions.

'We  see  this as an excellent example of the success  of
the  web-angel  business model of 'time-money-value',  in
which  we earn equity through providing expert e-business
consultancy   services,   later   supported    by    cash
investment.'


For further information please contact

Chris Eyles, Chief Executive            0207 400 6377
web-angel plc

David Rydell / Mark Way                 0207 353 9203
Bell Pottinger Financial


Notes to editors

web-angel is an AIM quoted e-business and mobile commerce
Pan-European  value-added  investor  that   advises   and
resources developing e-commerce and m-commerce companies.
Principally,   web-angel   provides   corporate   finance
advisory  and  consultancy  services  to  developing   e-
commerce and m-commerce businesses in the UK and  Europe.
In  return for these services, web-angel receives  equity
or rights to equity and may also make cash investments in
such businesses.