Placing & Trading Update

Ingenta PLC
24 February 2004


                   Ingenta plc ('the Company' or 'Ingenta')

               Underwritten £3 million Placing and Trading Update


Introduction

The Board is pleased to announce that it has agreed, subject to certain
conditions, to raise approximately £3.0 million, net of expenses, by way of a
Placing. Further details of the Placing, which is being fully underwritten by
Collins Stewart, are set out below.

The increase in the Company's authorised share capital and the allotment of New
Ordinary Shares pursuant to, inter alia, the Placing will be proposed at an
Extraordinary General Meeting convened for 9.30 a.m. on 18 March 2004.

Background to and reasons for the Placing

As announced at the time of the publication of the Company's results for the
year to 30 September 2003, the reorganisation of the Company's activities
undertaken in the 2003 financial year has left it in a stronger trading
position. The Company's operating cost base has been substantially reduced, and
its sales activities strengthened. With relatively high operating margins,
increased turnover now has the potential to deliver rapidly improving
profitability.

The Directors believe that the Company and therefore its shareholders would now
benefit from access to additional capital to assist it in accelerating growth in
turnover and profits. The Board has therefore concluded terms for the raising of
additional funds to strengthen the Company's balance sheet, to provide it with
additional working capital and to allow it to make acquisitions should suitable
opportunities arise.

Placing

The Company announced today that it is raising £3.0 million, net of expenses,
through the placing of  26,250,000 New Ordinary Shares at 12p. The New Ordinary
Shares will rank in full for all dividends and otherwise pari passu in all
respects with existing Shares.

The placing price of 12p represents a discount of 4 per cent. to the average
middle market price for the 12 business days ended 20 February 2004 during which
the marketing presentations were being made to potential investors.

It is expected that the New Ordinary Shares will be admitted to trading on AIM
on 19 March 2004. The Placing, which has been fully underwritten by Collins
Stewart, is conditional, inter alia, upon:

•  the approval of the Resolutions at the EGM;

•  the Placing Agreement becoming unconditional in all respects and not
   having been terminated in accordance with its terms; and

•  Admission.


Current trading and prospects

The Chairman intends to make the following statement to shareholders at the
Company's AGM at 10.30 am today:

'Trading results in the first quarter of the financial year to 30 September 2004
have shown a substantial improvement on the same period in the previous year.

New business indicated during the period also showed a sharp increase,
particularly in the Specialist Websites division. Overall, the Group has
generated new business totalling some £2 million since 30 September 2003, of
which some £0.8m will be recognised as turnover in the current financial year.
In addition to this, our strengthened sales teams have generated a strong
pipeline of additional business prospects which are expected to add further to
sales in the current financial year.

This increased level of business activity, together with deferred revenue to be
released during the year and recurring contracts with existing customers,
provide the Board with confidence that the Company's performance will continue
to improve during the current financial year and beyond.'

Directors' shareholdings and related party transactions

The Chairman and the Executive Directors have agreed to subscribe an aggregate
of £0.4 million for 3,437,501 New Ordinary Shares at the Placing Price pursuant
to the Placing. The Directors' beneficial and non-beneficial interests in Shares
(not including unexercised options over Shares) on the date of this document and
following the Placing are set out below:


Director                                 Current Interests                Interests after Placing

                                 Number of Shares      Percentage of Number of Shares     Percentage of
                                                        Issued Share                       Issued Share
                                                             Capital                            Capital

Martyn Rose                             4,635,932               4.28        6,302,599              4.68
Mark Rowse                             11,320,461              10.45       12,987,128              9.65
Simon Dessain                             392,903               0.36          497,070              0.37
David Embleton                            934,274               0.86          934,274              0.69
Ward Shaw                               1,898,264               1.75        1,898,264              1.41



Extraordinary General Meeting and action to be taken

A notice convening the EGM to be held at 23-38 Hythe Bridge Street, Oxford OX1
2ET at 9.30 a.m. on 18 March 2004 is set out in the circular to shareholders.
Resolutions will be proposed at the EGM to increase the authorised share capital
of the Company and authorise the Directors to allot shares.  The Company will
despatch the Circular to shareholders today.

Recommendation

The Directors consider the terms of the Placing to be in the best interests of
the Company and accordingly recommend that you vote in favour of the Resolutions
at the EGM as they intend to do in respect of their own beneficial holdings.
Irrevocable undertakings to vote in favour of the Resolutions have been received
in respect of these and other shareholdings, totalling approximately 19.2
million Ingenta Shares, representing approximately 17.7 per cent. of the entire
issued share capital of Ingenta.


Expected timetable of events

Extraordinary General Meeting                           9.30 am on 18 March 2004
Admission of the New Ordinary Shares to AIM                        19 March 2004



Further information

Ingenta:
01865 799 010

Martyn Rose    Chairman
Mark Rowse     Chief Executive

24 February 2004


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