Investment in Yospace

Interregnum PLC
12 July 2001

Thursday 12th July 2001


                               INTERREGNUM PLC

                       £1 Million Investment in Yospace

Interregnum plc ('Interregnum'), the IT investment and advisory company, today
announces that it has led the first round fundraising into Yospace Limited ('
Yospace' or the 'Company'), a market leading wireless technology software
company. The fundraising comprises convertible loan stock of £750,000 from
Interregnum and convertible loan stock of £250,000 from Advantage Technology
Fund.

The convertible loan stock converts at a discount to the next valuation round
of between 30-75 per cent, with the discount depending on elapsed time until
that next round of funding.  Otherwise it converts in March 2002.

Yospace provides wireless application protocol (WAP) software to mobile
telephony carriers and internet portals world-wide. It will use the funding to
develop and accelerate the deployment of its Java based applications
infrastructure into the GPRS (General Packet Radio Signal) and 3G (third
generation mobile telephony) markets and to expand its operations
geographically.

Yospace is currently headquartered in London, employing 30 staff with
annualised turnover in excess of £1.4 million for year ended 31 December 2000.
The Company has over 1,000 customers for its emulator product including blue
chip global organisations such as AOL, Vizzavi Europe, Genie, Xfera, Sprint
and British Airways. In addition, the Company has a unique WAP development
tool, which is also embodied as part of the Sun Microsystems Forte for Java
environment, and is used by thousands of developers world-wide for building
and testing wireless applications.

Commenting on the investment, Andrew De Abreu of Interregnum said:

'Interregnum intends to invest in the driving forces of GPRS and 3G
revolution. Carriers are racing to implement these new technologies, and
Interregnum believes the winners in the race will be those carriers who can
best develop new service offerings with emerging technology partners.

'Interregnum has developed a Wireless Investment Strategy designed to
accelerate the emergence of these technology partners. Yospace will form the
cornerstone of this investment strategy as the company leverages a strong
existing position to introduce its Java based technology platform. This
platform will allow carriers and portals to showcase application software and
deploy these applications to the end user, where Yospace technology will
manage the user experience, thereby promoting customer loyalty and retention.



'Interregnum will continue to seek out and invest in wireless applications
providers, as well as other wireless technologies at both ends of the value
chain.'



                                    -Ends-



For further information please contact:

Andrew de Abreu
Pip Creed, Senior Marketing Executive
Interregnum plc                                      Tel: [phone]

Vanessa Maydon
Merlin Financial                                     Tel: [phone]