Statement re Investment

Eurovestech PLC
07 February 2003

                        Eurovestech Plc ('Eurovestech')

    Magenta Corporation Limited ('Magenta') closes £1m equity funding round


Eurovestech is pleased to report that one of its investee companies Magenta, has
successfully completed a £1 million investment round. Eurovestech has committed
£500,000 to this investment round, as has a third party investor, Fieldhelm
Limited. Following this investment, Eurovestech will own 33 per cent. of the
fully diluted share capital of Magenta.

Magenta develops intelligent software agent technology, which enables a
negotiating process to be automated, based on certain decision criteria input by
the parties concerned. Magenta's real-time business applications encompass the
high growth area of supply chain event management.

Magenta has also recently appointed Jonathan Himoff as Chief Executive.  Mr
Himoff was founder of Speedchain a company that was sold to Vastera, Inc.
(NASDAQ:VAST).  Prior to this, Jon worked in management positions for Circle
International, Fritz Companies, MSAS Global Logistics and Geologistics.

Richard Bernstein, Chief Executive of Eurovestech, commented 'This funding
should enable Magenta to accelerate its growth so that it will be in a position
to meet the anticipated demand of its addressable markets. I believe that the
appointment of someone of Jon's calibre and track record represents both an
endorsement and enhancement of Magenta's prospects.'

Further enquiries:

Eurovestech plc
Richard Bernstein, Chief Executive                Tel: [phone]


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