Investment in Sigma

IP2IPO Group PLC
23 March 2005



For immediate release                                 23rd March 2005

                                IP2IPO Group plc


          Strategic Investment in Sigma Technology Group Plc


IP2IPO Group plc ('IP2IPO' or the 'Company') (AIM: IPO), the intellectual
property company that commercialises university technology, is pleased to
announce it has subscribed for new shares equivalent to 5% of the issued
ordinary share capital of Sigma Technology Group Plc ('Sigma') (AIM: SGM), the
technology venture capital and advisory specialist, at a price of 20 pence per
share (the 'Investment'). The total consideration for the Investment is
£360,935.

As part of the Investment, IP2IPO will enter into a collaboration with Sigma,
with the objective of supporting Sigma's efforts to develop IP commercialisation
partnerships with Scottish universities.

In addition to the Investment, Sigma has granted IP2IPO an option to subscribe
for further new ordinary shares at a price of 40 pence per share (the 'Option').
  Exercise of the Option would entitle IP2IPO to subscribe for an additional
5,414,030 new ordinary shares, representing 15% of Sigma's current issued share
capital for a total exercise cost of £2,165,612.  The option can be exercised at
any time until 30th June 2006, the initial period of the collaboration, and is
subject to Sigma obtaining the necessary shareholder approvals.

Information on Sigma

Sigma is a technology fund management and advisory specialist with a strong
Scottish presence, based in Edinburgh.  Sigma manages two venture funds, the
Sigma Innovation Fund and the Sigma Technology Venture Fund, which total £23
million.  Both funds have Scottish-based investors including the Bank of
Scotland, Scottish Widows Investment Partnership and Scottish Enterprise Fife.
Sigma is also a partner with the Scottish Co-investment Fund which provides
funding alongside the Sigma Technology Venture Fund. Sigma's current investment
portfolio contains 10 Scottish companies.


Reasons for the investment

IP2IPO's investment achieves a number of objectives:
          
     •    IP2IPO recognises the opportunity to apply its model in Scotland.  The
          Investment gives IP2IPO a strategic stake in a company with an 
          established Scottish presence and substantial experience in making 
          early stage investments in Scottish enterprise.
          
     •    Sigma's existing funds under management represent a potential source 
          of early stage capital for companies within the IP2IPO portfolio.
          
     •    Sigma's focus is on investing in early stage technology companies.  
          The Investment will allow IP2IPO to collaborate closely with a group 
          that shares IP2IPO's commitment to building IP-based companies.

Commenting on today's announcement, David Norwood, Chief Executive Officer of
IP2IPO, said: 'This investment gives IP2IPO the opportunity to expand our model
into Scotland.  Scottish universities contain some of the leading science in the
UK and, together with Sigma, we can offer them a compelling package of a
committed local team and expertise in university IP commercialisation.'

Neil Crabb, Joint Managing Director of Sigma Technology Group plc, said: 'We are
delighted to be able to announce this agreement with IP2IPO which will
strengthen our ability to develop partnerships with Scottish Universities, some
of which rank amongst the best in the UK for technological development.  We are
already successful in the Scottish market and this provides us with the
opportunity to further that success.'


For more information please contact:

IP2IPO
David Norwood, Chief Executive Officer                          020 7067 1651

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

Sigma
Neil Crabb, Joint Managing Director                             020 7653 3200


Notes for editors

About IP2IPO

IP2IPO is an intellectual property (IP) company that specialises in
commercialising university technology. The Company was founded in 2001 and
listed on AIM in October 2003. IP2IPO's first partnership was with the
University of Oxford. In return for an investment of £20 million, IP2IPO has
acquired 50 per cent of the University of Oxford's equity in spin-out companies
and technology licenses based on intellectual property created at the Chemistry
Department until 2015. In November 2003, IP2IPO created a £5 million seed
capital fund for investing in spin-out companies across the University of
Oxford, not just those originating within the Chemistry Department.



In March 2002, IP2IPO entered into a second long-term partnership with the
University of Southampton. Under the terms of this partnership, IP2IPO is
committed to working with the University of Southampton in the identification
and facilitation of spin-out companies from across the University of Southampton
and to investing £5 million in early-stage University of Southampton spin-out
companies over a four year period in return for equity stakes in those
companies. In addition, IP2IPO also received a 20 per cent stake in Southampton
Asset Management Limited, a company that has been formed to hold the
University's equity stakes in its future spin-out companies. The partnership has
a term of at least 25 years.

IP2IPO entered into its third long-term partnership in May 2003 with King's
College London. IP2IPO will work with King's College London to help identify and
progress commercialisation opportunities as well as invest £5 million in seed
capital in spin-out companies from King's College London over a five year period
in return for equity stakes in those companies. In addition, IP2IPO will receive
20 per cent of King's College London's equity in spin-out companies and
technology licenses. The partnership has an initial term of 25 years.

In October 2003, IP2IPO announced a fourth partnership with the Centre for Novel
Agricultural Products ('CNAP'), based at the University of York. CNAP is a
flagship research centre that specialises in plant and microbial gene discovery.
Under the terms of the partnership a new company, Amaethon Limited, has been
created which has the right to commercialise CNAP's IP for 25 years. IP2IPO has
committed to invest £1.15m in Amaethon Limited in return for a one third equity
stake in Amaethon Limited (the remaining equity being owned by the University of
York) and will also invest in the spin-out companies based on CNAP's IP which
Amaethon Limited creates.

In June 2004, IP2IPO acquired Top Technology Ventures Limited, an investment
adviser to early stage technology funds. This combines IP2IPO's expertise in the
creation of new ventures based on world leading university IP with Top
Technology's focus on making early stage venture capital investments.

In January 2005, IP2IPO acquired Techtran, a company set up in 2002 to
commercialise university intellectual property under a long-term technology
commercialisation contract with the University of Leeds. Under the terms of the
contract Techtran receives a significant (30%) interest in spin-out companies
created and technology licences negotiated, in return for the provision of
technology transfer services to the University.




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