Acquisition

Eurovestech PLC
16 May 2003


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


                                  Acquisition



Eurovestech, the investment company which operates a development capital fund,
focussing on high-technology enterprises, announces the acquisition of Knowledge
Support Systems Limited ('KSSL') from Knowledge Support Systems Group plc
('KSSG') earlier today. KSSL is a provider of pricing and revenue management
systems for the petroleum and retail sectors. For the year ended 31st December,
2002, KSSL incurred a loss before taxation of £7.4 million and had a net
deficiency of assets of £22.3 million as at that date. Included in this amount
was £21.5 million of cash or cash equivalents and £44.7 million owing to KSSG.
After the balance sheet date KSSL repaid £13.8 million to KSSG and £24 million
of the balance due to KSSG was capitalised. The remaining balance due to KSSG
will at Eurovestech's option be capitalised by KSSG or transferred to
Eurovestech for no extra cost. KSSG has warranted that KSSL and its subsidiary
had cash balances net of bank borrowings of £6.0 million as at 30th April, 2003
and following completion of the acquisition, KSSL will have no indebtedness due
to KSSG.


The consideration for the acquisition is £1.0 million payable in cash and
Eurovestech has also given KSSG indemnities in relation to specified
employment-related liabilities.

Eurovestech currently holds 6,742,273 ordinary shares in KSSG, representing 9.1
per cent. of the issued share capital of KSSG. If Eurovestech continues to hold
these shares until completion of the liquidation of KSSG and on the basis that
the distribution to shareholders will be approximately 18.5p per share as
indicated by the directors of KSSG in its announcement released today,
Eurovestech will receive £1.24 million against an original cost of £1.03
million.


Richard Bernstein, Chief Executive of Eurovestech PLC stated 'We are pleased to
have the opportunity to acquire KSSL, whose business we have followed closely
since first investing in KSSG in July 2002. We believe that, under our
ownership, the management team will have greater flexibility to develop the
business.'



Further enquiries:

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










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