Investment portfolio update

To be embargoed until 7.00am on

                                                                  31 March 2004

                        Eurovestech plc ('Eurovestech')                        

Year-end update

In advance of Eurovestech's year-end, the Directors of Eurovestech ('the
Directors') are providing an update on recent developments.

Investment gains and indemnity update

The results for the year will exceed the Directors' expectations. The results
will be substantially influenced by the gain of more than £400,000 realised on
our investment in Arc International plc.

The Directors are also pleased to report that earlier this month £180,000 was
returned to Eurovestech from an escrow account. The account was established
when Eurovestech bought Knowledge Support Systems Limited in June 2003. At the
time Eurovestech paid £250,000 into the account to cover claims brought by a
former director for loss of office. Having achieved an amicable settlement with
the former director, this litigation risk has now been removed.

Portfolio Development

Cjudge Limited (`Cjudge')

In December 2003 Eurovestech announced that it was in advanced discussions with
Cjudge's management in order to assess how best to capitalise on Cjudge's
growing success. These discussions have been successfully concluded with
Eurovestech investing an additional €600,000 to increase its shareholding from
73 per cent. to 77 per cent. of the fully diluted share capital. €300,000 of
this investment has already been made with the balance payable in April 2004.

The Directors are pleased to report that in recent months, as well as enjoying
continuing turnover growth in France, Cjudge has been enjoying strongly
increasing international demand for its products and services.

In Eurovestech's 2002 results, the Directors reduced the carrying value of the
initial €2 million investment in Cjudge by 90 per cent. to reflect the general
decline in business conditions at that time. This resulted in a write down of £
1,084,000. In view of both the recovery in general business conditions and the
significant progress that Cjudge has made, the Directors believe that it would
be misleading to retain the carrying value at the current level and, as a
result, intend to value the Cjudge investment at cost. This will result in a
credit in the current year of £1,084,000 subject to currency translation
differences.

Magenta Corporation Limited (`Magenta')

In November 2003, Eurovestech announced that Magenta had won a significant
order from a leading shipping management firm based in London. This has
underpinned the current valuation. The Directors are pleased to report that
Magenta's software has now been implemented successfully. They are
encouraged with Magenta's recent progress and as a result are now in advanced
discussions with Magenta's management as to how best to fully capitalise on its
exciting prospects. Eurovestech currently owns 33 per cent. of Magenta's fully
diluted share capital.

Boxmind Limited (`Boxmind')

In September 2003, Eurovestech reported that the delay in targeting relevant
content as a result of the significant uncertainty of the existing GCSE and
A-level structures within higher education was impacting our revenue
expectations for Boxmind. Whilst Boxmind has significantly reduced its cost
base in line with these reduced revenue expectations, the Directors believe
that Boxmind's prospects have become increasingly difficult. As a result,
Eurovestech is in detailed discussions with potential purchasers of the entire
share capital of Boxmind. The Directors recognise that the terms of any sale
will reflect the difficulties that Boxmind has encountered and is likely to be
at a price which represents a very substantial discount to Eurovestech's £1.25
million cost of investment.

KSS Limited (`KSS')

In Eurovestech's interim results (published in December 2003), the Company
increased the carrying value of KSS to its net cash of £4.2 million rather than
retaining a value of the purchase price of £1m. The Directors intend to retain
this book value on the grounds of consistency.

In December 2003, Eurovestech announced that the management of KSS believed
that the company would be strongly cash generative in 2004 and earlier this
month it was reported that KSS had secured a significant contract from a US
retailer of petroleum.

The Directors are pleased to report that, earlier this year, KSS successfully
negotiated a surrender of its lease on surplus office space. This has resulted
in the release of a previously paid rental deposit of more than £300,000.

Mykindaplace Limited (`MKP')

In Eurovestech's 2002 annual results, the carrying value of MKP was reduced by
57 per cent. to reflect the general decline in business conditions at that
time. This resulted in a write down of £223,000. In view of both the recovery
in general business conditions and the specific progress that MKP has made, the
Directors believe that it would be misleading to retain the carrying value at
the current level and as a result, they intend to value Eurovestech's
investment at cost. This will result in a credit in the current year of £
223,000.

In August 2003, Eurovestech announced that MKP had reached profitability. MKP
has continued to trade strongly with growing profitability in recent months.
Eurovestech owns 5.3 per cent. of MKP's fully diluted share capital.

Tevet Process Control Technologies Limited (`Tevet')

The Directors report that last week Eurovestech signed a term sheet relating to
a proposed investment of $150,000 in Tevet, as part of a $4.5 million
funding round, after which Eurovestech will own 3.8 per cent. of Tevet's fully
diluted share capital. The Directors are pleased by the calibre of new
investors and believe that these funds will allow Tevet to fully capitalise on
its growth prospects.

Enquiries:

Richard Bernstein, Chief Executive Tel: [phone]