Issue of Equity

To be embargoed until 7.01 a.m.

                                                           23rd September, 2004

               Eurovestech plc ('Eurovestech' or 'the Company')                

       Proposed placing of 47,761,905 Ordinary shares at 10.5p per share       

                                ('the Placing')                                

The Company is proposing to raise approximately £5 million (net of expenses) by
way of a placing of 47,761,905 new Ordinary shares in the Company to certain
institutional investors and a director of the Company at 10.5p per share.

The proceeds of the Placing, which is conditional on shareholder approval and
admission to AIM, will be used to provide additional financial resources to
capitalise on potential investment opportunities.

The placing price of 10.5p, represents a premium of 3.7 per cent. on the
closing mid-market price on 22nd September, 2004 of 10.125p. The placing price
represents a premium of 110 per cent. to the price at which shares in the
Company were issued at the time of the Company's initial public offering on the
Alternative Investment Market on 13th March 2000. Over the same period, the
Techmark 100 Index has declined by 81 per cent. Furthermore, the placing price
is almost double that at which shares were issued in a placing by the Company
that raised £1.69 million in October 2003.

An extraordinary general meeting ('EGM') will be convened to take place on 22nd
October 2004 to approve the issue of the new shares, which are expected to be
admitted to trading on AIM on 26th October 2004. The new shares will rank pari
passu with the existing issued ordinary shares of the Company.

Among the institutions taking shares in the proposed placing is Invesco
Perpetual, which as result of the Placing, will hold 11.4 per cent of the
enlarged issued share capital of the Company. Jean-Michel Petit, Investment
Director of Eurovestech, will subscribe for 150,000 of the new shares being
issued in the Placing, which will result in him holding 150,000 Ordinary
Shares, repesenting 0.05 per cent. of the enlarged issued share capital of the
Company.

Eurovestech's largest institutional shareholder, Scottish Value Trust, has also
agreed to subscribe for 9,523,810 new Ordinary Shares in the Placing to
maintain its aggregate holding at 19.9 per cent of the enlarged issued share
capital of the Company.

Richard Bernstein, Chief Executive, said: 'I am delighted that institutions are
demonstrating their belief in and understanding of our approach. I am
particularly pleased to be able to welcome Invesco Perpetual, one of the UK's
top performing and highly respected fund managers, as a shareholder. Our focus
remains on using our investment resources wisely to accelerate growth and
provide exceptional returns to shareholders.'

Enquiries:

Richard Bernstein

Chief Executive Telephone [phone]

John East & Partners Limited

David Worlidge/ Simon Clements Telephone [phone]