GETECH First Day Dealings

IP2IPO Group PLC
23 September 2005


For immediate release                                          23 September 2005


                                IP2IPO GROUP PLC
                      GETECH GROUP PLC SUCCESSFUL PLACING
                              AND ADMISSION TO AIM

IP2IPO Group plc (AIM: IPO) ('IP2IPO'), the intellectual property
commercialisation company, is pleased to note that today is the first day of
trading on AIM of shares in GETECH Group plc ('GETECH'), a spin-out company that
was formed within the University of Leeds.  GETECH is an oil services business
that specialises in the compilation and analysis of gravity and magnetic data.

GETECH raised £3.5 million (before expenses) at a placing price of 39p per share
(the 'Placing Price') and its capitalisation at the Placing Price was £10.8
million.

Following the placing IP2IPO owns 4,585,000 shares in GETECH (worth £1.8 million
at the Placing Price), representing 16.6 % of GETECH's enlarged share capital.


For more information please contact:
  IP2IPO                                                       020 7489 5200
  David Norwood, Chief Executive Officer
  
  GETECH Group plc                                             0113 343 5240
  Dr Derek Fairhead, Managing Director

  Buchanan Communications
  Tim Anderson, Mark Court, Mary-Jane Johnson                  020 7466 5000


The press release issued today by GETECH follows:


                                GETECH Group Plc
                          ('GETECH' or 'the Company')
                   STRICTLY EMBARGOED UNTIL 23 SEPTEMBER 2005
      FIRST DAY OF DEALINGS ON THE AIM MARKET OF THE LONDON STOCK EXCHANGE


GETECH Group Plc, the oil services business specialising in the compilation and
analysis of gravity and magnetic data, is pleased to announce its flotation on
the AIM market of the London Stock Exchange today.

Teather & Greenwood Ltd is the Company's nominated adviser and broker.

INTRODUCTION

GETECH is a profitable and cash generative oil services business specialising in
the compilation and analysis of gravity and magnetic data. GETECH licenses these
data sets and interpretation reports to major oil, gas and mining companies to
enable these companies to evaluate regional geology and thereby assist their
exploration strategies. GETECH has compiled one of the most extensive commercial
libraries of gravity and magnetic data. GETECH is based at the University of
Leeds, and it has a subsidiary in Houston, Texas.

PLACING STATISTICS

Placing Price                                                               39p 
Number of Ordinary Shares in issue prior 
to the Placing                                                      20,000,000
Number of Placing Shares to be issued pursuant to the Placing        7,692,307
Number of Vendor Placing Shares being placed                           578,051
Number of Ordinary Shares in issue immediately following Admission  27,692,307
Market capitalisation of the Company following the Placing and 
Admission at the Placing Price                                     £10,800,000
Percentage of Enlarged Share Capital being placed pursuant to 
the Placing                                                              27.77 %
Estimated gross proceeds of the Placing                             £3,225,000
Estimated net proceeds of the Placing receivable by the Company     £2,498,000


For further information, please contact:

  Buchanan Communications                                      01943 883990
  Kelly-Ann French

  GETECH Group Plc                                             0113 343 5240
  Prof Derek Fairhead
  Colin Glass                                                  07831 258494

  Teather & Greenwood Ltd                                      020 7426 9000
  Mark Dickenson
Rob Naylor


BACKGROUND

Magnetic data can be mapped to show small variations in the Earth's magnetic
field. These maps can then be analysed to show the location and depth of
geological structures such as faults, rock boundaries and volcanics. Gravity
data is similar to magnetic data, except that it is used for mapping the
variation of the gravity field of the Earth. Variations in the Earth's
gravitational pull arise from changes in the density of rocks. The gravity field
allows three-dimensional analysis of geological structures at depth. For example
the gravitational field increases over anticlines (arch folds in rocks) and
decreases over the top of salt domes (a plug of salt). This information,
together with other data, contributes to the evaluation of the mineral and
hydrocarbon potential of a region. GETECH licenses its magnetic and gravity
datasets and interpretation reports to oil, gas and mining companies who are
able to generate an image of the sub-surface geology over a potential
exploration area. The Directors believe this benefits the oil, gas and mining
companies by adding a greater degree of certainty before more expensive seismic
exploration and drilling operations are undertaken.

HISTORY

GETECH has evolved from a University of Leeds research group, which was
established in the early 1980s by Dr Derek Fairhead, currently Professor of
Applied Geophysics. In 1991, this research group was renamed Geophysical
Exploration Technology and it became a division of ULIS, a company established
to manage the University's commercialisation of intellectual property. In 1996,
Geophysical Exploration Technology Inc. was established in Houston, Texas, to
strengthen and build on close contacts with major oil companies. In October
2000, GETECH was 'spun-out' from the University with 80 per cent. of the equity
being allocated to senior employees within GETECH and with the University
retaining the remaining 20 per cent. To preserve GETECH's valuable links with
the University, Dr Derek Fairhead still spends 20 per cent. of his time teaching
and supervising research within the University. GETECH has, since the mid-1980s,
undertaken and continues to undertake a series of major gravity and magnetic
continental scale studies, funded by oil and gas companies. These studies have
integrated on a continental scale disparate exploration gravity and magnetic
datasets owned by oil companies with other available data into a single unified
database. GETECH took the strategic decision in mid-2004 to develop a new
division of the business, the Petroleum Systems Evaluation Group (PSEG), and
recruited senior geo-scientists to manage it. PSEG uses data already held by
GETECH with other data to analyse the potential petroleum systems within
sedimentary basins. The aim of PSEG is to provide oil companies with a more
detailed insight of where oil and gas are likely to be found within the
sedimentary basins. This further analysis builds on GETECH's core competency of
defining the location and structural architecture of the sedimentary basins. The
Directors believe PSEG has significant growth potential due to the increasing
demand for its services.

PRINCIPAL ACTIVITIES

GETECH has 3 principal activities:
Global Gravity and Magnetic Data Licensing
Interpretation Studies and Services
PSEG

The first two activities contributed the majority of Group revenue for the year
ended 31 July 2005.

1. Global Gravity and Magnetic Data Licensing

GETECH has compiled one of the most extensive commercial libraries of gravity
and magnetic data, which is marketed and then licensed to oil, gas and mining
companies. This activity has contributed the majority of Group revenue and
profit since 2000 and contributed 51 per cent. Of Group revenue for the year
ended 31 July 2005. GETECH continues to update its data library by entering into
new marketing agreements with data suppliers and therefore continues to develop
new products. For example, RAMS, an ongoing GETECH study, receives funding from
four of the leading oil companies totalling in excess of £1.2 million.

2. Interpretation Studies and Services

The Group undertakes two types of interpretation studies:

Non-exclusive studies, whereby a number of companies provide the funding for the
study but the ownership of the study remains with GETECH. The study is then
licensed to as many clients as possible after completion. GETECH's global
gravity and magnetic archive data are often incorporated within the studies. An
example of such a study is the 'Libya Depth to Basement Study', which used
GETECH-compiled gravity and magnetic data, over 700 wells, and public domain
data to undertake a geological/geophysical three-dimensional interpretation
study of the basement. The study has been sold successfully for five years as
oil companies either enter Libya for the first time or return after sanctions
were lifted. New studies are being considered in Africa, the Middle East and
South East Asia.

Proprietary studies, whereby a single client commissions work. Currently, this
is a relatively modest revenue earner for GETECH contributing 3 per cent. of
Group revenue for the year ended 31 July 2005. The work covers processing and
interpretation of both GETECH datasets and survey data provided by the client.
The Directors believe that this work broadens the Group's industry relationships
and generates repeat work.

GETECH provides three types of services, which include:

Software sales and support of a limited range of databasing, processing and
interpretation software developed by GETECH.

Training courses to oil, gas and mining companies, which are part of GETECH's
marketing strategy.

Research and development to be undertaken and funded within set projects or as a
standalone proprietary or group-funded study.

The Directors consider that these three types of services are an important part
of the business, although they do not generally represent a significant
percentage of Group revenue, as service contracts can lead to further project
work. For example, a one year study has been solicited from a leading European
oil company as a result of services performed by GETECH for the oil company.

3. PSEG

In mid-2004, GETECH decided to enhance its interpretation capability by
establishing PSEG, headed by Dr John Jacques and Dr Paul Markwick. PSEG uses
data already held by GETECH with other data to analyse the potential petroleum
systems within sedimentary basins. The aim of PSEG is to provide oil companies
with a more detailed insight of where oil and gas are likely to be found within
the sedimentary basins.

The Directors believe PSEG will increase GETECH's breadth of business activity
in an area where there is competition, but also considerable demand from oil
companies, for such services. PSEG will build on the already established links
and reputations that Dr John Jacques and Dr Paul Markwick have generated over
the last 5 to 10 years. PSEG has expanded to 5 people to date. The current focus
is on proprietary studies, one of which has already been completed for a British
company in South East Asia. PSEG is also promoting non-exclusive studies with
one in the Gulf of Mexico having commenced, and another in the South Atlantic,
which is currently being planned.

CUSTOMERS

The market in which GETECH operates is dominated by the large oil companies such
as Shell, ExxonMobil and BP. The nature of GETECH's core business is licensing
data on an enquiry by enquiry basis. This ensures GETECH is not heavily reliant
upon one customer. GETECH's largest customers over the last three years,
representing 50 per cent. of income, were BP and its joint ventures, ENI,
ExxonMobil, Royal Dutch Shell, Statoil and the US Government. In addition,
GETECH licensed data and services to over 30 smaller oil, gas and mining
companies (representing the remaining 50 per cent. of its income).

MARKET

The market is dependent upon the size of exploration budgets in the oil
industry, which is, in turn, dependent on the existing oil production levels and
future demand. An indication of this demand is the current high price of oil.
Many of the oil companies have taken the decision to increase their exploration
budgets as they need to locate and exploit new fields to maintain current
production levels and to cope with the increasing demand from developing areas
such as China. GETECH has a range of products, including data for a large number
of countries worldwide, as well as a mixture of ongoing long and short-term
projects with oil and gas companies. Hence the Directors believe GETECH is well
positioned to provide good value products to oil, gas and mining companies which
will remain in demand even if exploration budgets were to be reduced.

Dependency on licences

Where GETECH enters into collaboration, sponsorship and supply agreements with
data providers to supply and enable GETECH to integrate data for specific
geographical areas, ownership of the data remains with the provider of the data
and GETECH requires a licence to be able to market the data derived from the
project. These licences have not always been expressly provided.

Competitors

The Directors believe GETECH is perceived by the industry as a major supplier of
regional gravity and magnetic data. GETECH's main competitor is Fugro Robertson,
which is a subsidiary of Fugro N.V., an integrated oil services company.
However, the Directors believe that Fugro Robertson offers no direct competition
in some of GETECH's specific areas of expertise. Another potential source of
competition is from in-house teams within the larger integrated oil and gas
companies accessing the data from the original data suppliers and undertaking
their own interpretation. The levels of enquiries received by the Company
indicate that in-house technical teams are not currently able to cope with the
demands for their services.

Strategy

The Directors will continue to grow the existing core business of interpretation
studies and services, and are currently considering several new areas of study
in which to invest. The Directors also intend to expand the core global gravity
and magnetic data licensing business, and will use a portion of the proceeds of
the Placing for working capital to manage and expand the data library. The
Directors aim to take the lead role in selected studies going forward thereby
reducing the need for sponsors. The Directors believe that PSEG has major growth
potential and links closely and effectively with the existing core business,
expanding the services GETECH is able to offer its customers. A portion of the
proceeds of the Placing will be invested in PSEG to enlarge the operation,
through recruiting additional qualified staff, increasing the accommodation and
equipment and committing funds to additional marketing spend. The Directors will
also look to use the existing cash balance and remaining Placing proceeds for
acquisitions and joint ventures both in GETECH's current areas of operation and
also to expand the Group's operations further down the exploration and
production process, enabling it to access a wider range of oil, gas and mining
company budgets.

PROCEEDS OF PLACING

The net proceeds of the Placing will be used:

to invest in the core data library and for working capital for the development
of global gravity and magnetic data sales, allowing the Group to take the lead
in selected studies and providing funds to meet advanced royalty payments to
secure access to new databases and sources;

to invest in Petroleum Systems Evaluation Group (PSEG), enlarging the operation
by recruiting additional qualified staff, increasing the accommodation and
equipment and committing funds to additional marketing spend; and

together with GETECH's current cash balances, to seek opportunities for
acquisitions and joint ventures both in its current areas of operation and also
to expand the Group's operations further down the exploration and production
process, enabling it to access a wider range of oil, gas and mining company
budgets.

Current Trading

The Group has continued through August 2005 to work on a number of non-exclusive
and proprietary studies for its customers. In addition the Group continues to
license magnetic and gravity data from its extensive library. Current trading is
therefore in line with management's expectations.

Directors

The Board consists of 7 Directors in respect of whom brief biographies are set
out below.

Peter Stephens (aged 49), Non-Executive Chairman

Peter was previously Head of European Equities Sales at Salomon Brothers and
Credit Lyonnais. Since 2001 he has been working as a venture capitalist. He has
a M.A. in Jurisprudence from Oxford University and qualified as a Barrister in
1978. He is a founding shareholder of Desire Petroleum plc and is a
non-executive Director of Tristel plc, a company quoted on AIM.

Dr Derek Fairhead (aged 60), Managing Director

Derek is the founder of GETECH. Derek received a B.Sc. in Geology and Physics
from Durham University, a M.Sc. in Geophysics from Newcastle University, and a
Ph.D. in Geophysics from Newcastle University. He has been Managing Director of
GETECH for over fourteen years, and is also the Professor of Applied Geophysics
at Leeds University as well as having had over 100 papers published. Derek has
an honorary Professorship at the Ocean University of Qingdao, China; was awarded
the Bureau Gravimetrique International (BGI) medal 'for outstanding works on the
Earth's gravity' in 1994; and received the Special Commendation Award by the
Society of Exploration Geophysicists in 1999. Derek has numerous contacts in the
oil and gas industry and Government Ministries/Survey Departments worldwide due
to his involvement with the continental data compilation studies.

Dr Christopher Green (aged 44), Technical Director

Christopher has a B.Sc. in Physics from Durham University, a M.Sc. in Geophysics
from the University of Leeds, and a Ph.D. in Geophysics from the University of
Leeds. He started work as a Research Assistant at the University of Leeds in
1983 and subsequently became GETECH's chief Geophysicist and Technical Director.
He has developed software for the visualisation of gridded gravity, magnetic and
topographic datasets, in a plate tectonic context and algorithms and techniques
for the processing of altimeter data from the ERS-1 and GEOSAT satellites into
free-air gravity.


Ian Somerton (aged 50), Marketing Director

Ian started his career as a Geophysicist at the British Antarctic Survey, UK,
and Antarctica in 1976. During 1980-82 he worked in the Applied Geophysics
Research Unit at Birmingham University before moving to Robertson Research
International Limited (currently renamed Fugro). Whilst with Robertson Research
International Limited, Ian was responsible for many geophysical acquisition,
processing and interpretation projects. These involved overseas fieldwork in
countries including, Saudi Arabia, Turkey, Portugal, Botswana, Oman, Papua New
Guinea, Somalia, Libya and Yemen. Ian joined GETECH in 1994 and his current
responsibilities include co-ordinating the marketing of all GETECH's products
and services to oil, gas and mining companies.

Colin Glass (aged 62), Finance Director

Colin is a Chartered Accountant and a partner in Winburn Glass Norfolk Chartered
Accountants. He is a founder Director of the AIM quoted Surgical Innovations
Group plc which reversed into Haemocell plc in 1998. He is a non-executive
Director of Coe Group plc taking the company from venture capital funding to AIM
quotation through a reverse takeover. He is a non-executive Director of Straight
plc which he assisted in floating on AIM in 2003. He also advised the GETECH
management team in the negotiations on the spin-out from the University.

Raymond Wolfson (aged 51), Non-Executive Director

Raymond has a B.A. in Physics from Magdalen College, Oxford. He worked for
thirteen years in BNFL in various management consultancy and commercial roles
and then moved to Ernst and Young and qualified as a Chartered Accountant. Since
1991 he has been involved in the technology transfer company at the University
of Leeds, as Finance Director and later Investment Director. He has created and
been a director of various spin-out companies from the University, a significant
number of which have raised funding and/or been sold. Most recently he has been
responsible for managing the intellectual property created at the University of
Leeds.

Dr David Roberts (aged 62), Non-Executive Director

David has a B.Sc. and a D.Sc. in geology and geophysics from Manchester
University. He worked for the Institute of Oceanographic Sciences for 16 years
before joining BP Exploration in 1981 as Head of the Basins Analysis group. He
retired from BP in 2003 as Distinguished Exploration Advisor. David's experience
at BP has given him world wide exposure to exploration in a variety of
sedimentary basins and petroleum systems both onshore and offshore. He is also a
Visiting Professor and fellow of Royal Holloway, University of London, the
University of Southampton and IFP school in Paris. David has published more than
100 papers on a variety of geoscience topics. He is the founder and editor of
Marine and Petroleum Geology and is the recipient of numerous awards and also
runs his own geoscience consultancy.

Enterprise Investment Scheme and Venture Capital Trusts

The Company has received provisional clearance that its shares will be a
qualifying investment for the purposes of the EIS and a 'qualifying company' for
the purposes of investment by Venture Capital Trusts ('VCTs').

-ENDS-



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