Prelude Trust PLC

New Investment

Prelude Trust PLC
15 November 2001

Embargoed until: 07.30, 15 November 2001

Prelude invests further in Alphamosaic

Prelude Trust plc ('Prelude'), the investment trust which specialises in high
growth technology and life science based businesses, has invested a further 
£840,000 in Alphamosaic Limited ('Alphamosaic') as part of a £4.7 million
second round of financing.  Prelude has been joined by ACT Venture Capital and
TTP Ventures and the syndicate has invested £3 million with a further £1.7
million committed, linked to the achievement of performance objectives in
2002.  Prelude's total investment in Alphamosaic now stands at £2.7 million,
constituting a 31% shareholding in the company.

The 'VideoCore' processor developed by Alphamosaic offers mobile phone and PDA
designers a high performance, low power video signal processor, enabling high
quality video capture, manipulation and display.  Prelude originally invested
£1.25 million in April 2001 to finance the technology spin-out from Cambridge
Consultants Limited.

Commenting on the investment, Alan Duncan, a Director of Prelude and of
Alphamosaic, said; 'We are delighted with the progress that the company has
made since our original investment last April.  Alphamosaic offers designers
working with video imaging sensors a powerful yet flexible processor platform
for tomorrow's mobiles and other video enabled products.  VideoCore is
attracting considerable industry interest as a low power alternative to using
inflexible IP building blocks or general-purpose processors for MPEG4 and
other types of video signal processing.'

Jalal Bagherli, CEO of Alphamosaic, added; 'First generation video enabled
mobiles have recently become available in Japan and designers are now focusing
on future product needs by addressing current power, performance and bandwidth
constraints.  We are delighted to have completed this financing round with
such a strong group of venture investors.'

Steve Barlow, Technical Director and a founder of Alphamosaic, pointed out
that; 'VideoCore allows the designer to introduce multiple generations of
mobile devices, adding features and performance but without changing the core
video processing platform.  We are providing our industry partners with
development systems and will be supplying them with VideoCore samples early
next year.'

For further information please visit Prelude's website at or contact:

Alan Duncan, Director                       Robert Swann          
Prelude Trust plc                           Alphamosaic Ltd       
Tel:  01954 288090                          Tel: 01223 420003     
[email protected]        [email protected]        

John West/Rosie Brown
Tavistock Communications
Tel:  020 7600 2288
[email protected]

Notes to editors

Prelude Trust (

Prelude Trust plc is an investment trust whose strategy is to seek significant
capital appreciation over the long term through investment in early stage,
technology and life science based businesses.

The management team at Prelude Trust of Dr Robert Hook, Andrew Allars, Alan
Duncan and Dr Robert James, has over 25 years of combined experience in their
investment fields.  At Prelude, they have built a promising portfolio of 17
companies in the communications, IT, life sciences and materials sectors.

For further information please contact:

Alan Duncan
Prelude Trust plc
Sycamore Studios
New Road

Tel:  01954 288 090

[email protected]

ACT Venture Capital (

ACT Venture Capital is Ireland's leading independent venture capital
management company. Founded as an independent operation in 1994, ACT has
completed over 45 investments principally in technology-based companies
serving global markets. ACT's portfolio consists of a significant number of
technology investments within the enterprise software, communications and
semiconductors sectors.

ACT has a strong executive team that can apply a diverse range of
international, industrial, technology and financial experience to achieving
success for the companies we back. ACT provides capital to private companies
in the range of Euro1m to Euro15m.  Larger sums can be provided in syndication
with its limited partner investors and other private equity houses.

ACT currently manages Euro200m through a number of venture capital funds.
ACT's investors are Irish, UK and European institutions and pension funds such
as AIB Capital Markets, Mercury Asset Management, Murray Johnstone, KBC Asset
Management, the European Investment Bank, NIB Capital, Access Capital
Partners, Proventure and Fondinvest - CDC Participations.

For further information please contact:

Kieron Branagan,
ACT Venture Capital Limited,
Jefferson House,
Eglinton Road, Donnybrook,
Dublin 4, Ireland.
Tel: +353-1-260-0966
Fax: +353-1-260-0538
Email: [email protected]

TTP Ventures (

The TTP Venture Fund is a Cambridge based venture capital fund that
specialises in early stage ventures and research spinouts.

Its fund investors include Siemens, Boeing and NPM Capital.

TTP Ventures is the venture capital arm of TTP Group plc, better known as The
Technology Partnership.  Founded in 1988, TTP has since grown to become one of
Europe's most successful innovation businesses.  Its own spin-offs include TTP
Communications, the mobile communications chip set and software supplier
floated on the London Stock Exchange last October, and The Automation
Partnership, a leading supplier of automated research equipment for the
pharmaceuticals industry.

For more information please contact:

Clennell Collingwood
TTP Venture Managers Ltd
Melbourn Science Park, Cambridge Road
Melbourn, Royston, Herts

Tel:  +44 1763 262626
Fax:  +44 1763 262265
[email protected]