Completion of Disposal

Angle PLC 06 April 2004 For Immediate Release 6 April 2004 ANGLE plc (ANGLE or the 'Company') Completion of Disposal Exago generates £2.15 million profit for ANGLE ANGLE plc is pleased to announce the completion of its disposal of Exago, a venture company in which ANGLE had a 49.9% interest, to Corpora plc ('Corpora') for £4.93 million at the mid-market price at close of business on 5 April 2004. Proceeds of the disposal are satisfied by the issue to ANGLE of 6,071,335 New Ordinary Shares in Corpora. This represents 18.1% of Corpora's issued share capital, as enlarged by the issue of New Ordinary Shares and after the placing by Corpora of £2.5 million, valuing the Company's interest at £2.4 million at the mid market price at close of business on 5 April 2004. Exago was founded by ANGLE in 2000, using its established Progeny(R) process, as a joint venture between ANGLE and BT to commercialise Intellectual Property developed by BT Exact, BT's research, technology and IT operations business. Exago launched eXero, an integrated suite of advanced knowledge discovery, summarisation, collaboration and expertise location software tools that gives users the ability to find, manage and share information that is relevant to their business needs. Exago's strategy has been to seek to generate revenue from the licensing of eXero to third parties for selling on to their customer base or for building into wider solutions. In its first year of trading, Exago achieved sales of £438,000, the majority in the UK, through a combination of direct and indirect sales channels. Based on the mid market price of Corpora shares at close of business on 5 April 2004, the disposal has generated £2.15 million profit for ANGLE, which is a multiple return on ANGLE's investment of over eleven times. As part of the disposal, ANGLE has entered into orderly market undertakings under which the Company has undertaken (subject to certain exceptions) not to sell any shares for a period of 12 months following completion. Following the acquisition, Dawson Buck, the current Chairman of Exago and a Director of ANGLE will join the Board of Corpora as a non-executive Director. Andrew Newland, Chief Executive, commenting on the transaction said: 'We are delighted that the successful disposal of Exago demonstrates the value generation capability of our Progeny(R) process for commercialising intellectual property. We believe that the combination of Exago with Corpora extends the product offering and customer base and provides a strong base for growth of the business in the future.' For further information, please contact: ANGLE plc 01483 295830 Andrew Newland, Chief Executive Dawson Buck, Deputy Chief Executive Ian Griffiths, Finance Director Buchanan Communications 020 7466 5000 Richard Darby, Suzanne Brocks Notes to Editors Founded in 1994, ANGLE is an international venture management and consulting company focusing on the commercialisation of technology and the development of technology-based industry. ANGLE creates, develops and advises technology businesses on its own behalf and for its clients. This information is provided by RNS The company news service from the London Stock Exchange

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Angle (AGL)
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