Placing of Shares, etc.

Interregnum PLC
13 March 2000



                     Interregnum plc

 Placing of 19,605,714 ordinary shares of 5p at 140p per
                          share
                           and
     Admission to the Alternative Investment Market

                       HIGHLIGHTS

*  Interregnum plc ('Interregnum' or 'the company'),  the
 specialist  IT venture marketing company, is pleased  to
 announce  the  publication  of  its  Admission  document
 relating  to  the Placing of 19,605,714 ordinary  shares
 of  5p  at  140p  per  share and its  Admission  to  the
 Alternative  Investment Market  ('AIM')  of  the  London
 Stock   Exchange.  Teather  &  Greenwood  is  Nominated
 Broker and Nominated Adviser.

*  At the Placing price of 140p, the company has a market
 capitalisation of approximately £90.2 million.   Trading
 in the shares on AIM commences today.

* 14,285,714 Placing shares have been placed on behalf of
 the  company  at 140p per share, to raise  approximately
 £20.0  million  before expenses.   A  further  5,320,000
 ordinary  shares  have  been placed  on  behalf  of  the
 vendors with a value of approximately £7.4 million.

*  The  net proceeds of the Placing are estimated  to  be
 £19.0    million.    The   Placing   shares    represent
 approximately  22.2  per  cent of  the  enlarged  issued
 share capital of the company.

*  Immediately following Admission, the Directors will be
 interested,   in   aggregate,  in  39,520,220   ordinary
 shares, representing approximately 61.3 per cent of  the
 enlarged  issued  share capital  of  the  company.   The
 Directors  have  undertaken not to  sell  any  of  their
 shareholdings   at   any  time  prior   to   the   first
 anniversary of Admission.

*  The  proceeds  of  the  Placing will  provide  working
 capital  and  investable funds to expand  the  company's
 lines  of  business,  to  establish  managed  funds  for
 investment  in  venture  marketing  clients   and   high
 potential  seed stage private companies, and  to  redeem
 the 30,400,000 preference shares held by CIBC.

Ken Olisa, Managing Director of Interregnum, comments:

'We believe our 'high touch' hands-on approach is unique.  
Adding a capacity to invest directly will enable us to 
apply the lessons of the US - putting smart money into smart 
businesses to transform technology into wealth.'

For further information, please contact:

Interregnum
020 7494 3080
Ken Olisa, Managing Director
Adrian  Merryman,  Chief Investment Officer  and  Finance
Director

Teather & Greenwood Limited
020 7426 9000
Russell Cook, Director

Ludgate Communications
020 7253 2252
Tim Davis/Vanessa Anderson


About Interregnum

Founded  in  1992,  Interregnum  aims  to  support  high-
potential   IT   entrepreneurs  by  assisting   them   to
'transform technology into wealth'.  It achieves this by,
inter-alia,  working  closely with the  shareholders  and
executive management of its clients to develop,  resource
and  implement aggressive, marketing-led, value  building
strategies.  Interregnum plays a hands-on role  with  its
clients  throughout a company's lifecycle,  from  initial
concept to exit.

Central  to  Interregnum's work is its  proprietary  'Four
Pillars  of Value' (copywriten) methodology that it 
applies to  client companies  in  order  to  build and  
realise  shareholder value.  This enables a systematic 
approach to pinpointing opportunities for the creation of 
value within IT-centric companies and assists management 
to develop strategies to exploit them.

The core of Interregnum is the Venture Marketing line  of
business.  Venture Marketing starts from the premise that
success in building an IT-centred business requires  much
more  than  an  idea  or  substantial  funding.   Indeed,
Interregnum's  Venture  Marketing  executives   therefore
increase the chances of success by contributing expertise
in:

*  Management; acting as non-executive directors of their
 clients,  Interregnum's staff bring to  bear  more  than
 125  man-years  of combined technical, sales,  marketing
 and general management experience

* Mentoring; building close personal relationships  with
 the  clients' management teams to help them prepare  for
 the challenges of fast-track growth

* Marketing; IT companies depend upon effective marketing
 for  success.   Most of the Interregnum  executives  are
 highly experienced international technology marketeers

*  Money;  Interregnum raises working capital (both  debt
 and equity) for its clients.

In  return for its value-added work, Interregnum receives
fees.   In  recognition  of  the  risks  associated  with
working  with  early  stage companies,  Interregnum  also
receives equity in those clients.  Interregnum has  built
a  portfolio of equity positions in 27 IT companies  both
public  and  private, in Europe and  North  America.   To
date,   two   of   the  investee  companies   have   been
successfully floated.

Interregnum  operates  three  other  lines  of  business:
Research  &  Consulting;  Mergers  &  Acquisitions;   and
Venture  Capital.   These provide complementary  revenues
that,  utilising the 'Four Pillars of Value'  methodology,
also generate additional fees.

Research and Consulting
Interregnum assists IT companies to define and refine  their
strategies  and  helps established non-IT companies  with
the   development   of  IT  strategies.    In   addition,
Interregnum advises its private equity clients, including
many   leading   UK  venture  capital   funds,   on   the
technological value and implications of IT investments.

Mergers & Acquisitions
Interregnum uses its IT expertise and its 'Four Pillars of
Value'  methodology  to  support  both  acquisition   and
disposal activity by its clients.  The Directors  believe
that  this  proprietary  methodology  helps  properly  to
position  and  value  companies for trade  sales  and  to
identify    acquisition   candidates   with   appropriate
strategic, technical and operating synergies.

Venture Capital
Interregnum  works  with a number  of  institutional  and
private  investors to source the capital requirements  of
growing  technology companies.  To date, Interregnum  has
helped  raise  over  £50  million  for  young  technology
companies  and  their shareholders.  One of Interregnum's
early-stage  capital raising initiatives is the  'Step  IT
Up' (Registered trademark) programme  in  conjunction  with
Europe's  largest venture  capitalist,  3i  plc.  Started
in  1997  as  a pioneering, fast track, seed capital 
initiative  targeted at  high potential UK IT companies, 
it provides access to both strategic marketing support and 
early stage capital. Through  'Step  IT Up' more than 
£6.5m has  been  invested into five companies.

Focused Private and Public IT Market Investing
The  Directors believe there is a significant opportunity
to  leverage  Interregnum's knowledge of the European  IT
industry, its proven understanding of how to identify and
support  high  potential IT companies and  its  financial
expertise,  by  expanding  into  the  following  business
activities:

* venture  capital  investment in European  (particularly
  UK) seed and early stage companies
* public  equity investment, where Interregnum's  Venture
  Marketing   and   research  capability   can   identify
  potential  investments in companies that are not  fully
  understood and appreciated by the capital markets

Interregnum  intends to make private  equity  investments
primarily  in  high  potential seed  and  early-stage  IT
ventures  in sectors such as Internet infrastructure  and
services, wireless infrastructure, software, hardware and
IT  services.  Interregnum will also invest  in  its  own
Venture   Marketing  clients  and  later-stage  companies
alongside  other venture capital firms where it  believes
this  to  be  appropriate.  Interregnum also  intends  to
raise  additional  funds from financial institutions  for
investment  alongside its own funds, and to  raise  funds
from  large  corporations for investment  in  IT  sectors
considered strategic to their objectives.

NOTES TO EDITORS


* Interregnum - (www.interregnum.com) is headquartered in
 London  with  an  office  in  San  Francisco,  USA,  and
 associates in Silicon Valley and New York.  The  company
 currently employs 16 people.

*  In August 1999, Interregnum launched 'enterprise.USA',
 in  conjunction  with the DTI-backed  Software  Business
 Network,  to  assist UK IT entrepreneurs in establishing
 and  building  the right infrastructure  to  launch  and
 sustain successful businesses in the US.

* Interregnum has a strategic partnership with CIBC World
 Markets  offering  clients access to  a  full  range  of
 financing   options  and  advice  through   CIBC   World
 Markets'   technology   investment   banking   services.
 Interregnum also has a joint initiative with  3i  -'Step
 IT  Up'  to  assist  early-stage IT  businesses  attract
 funding of up to £500,000.

*  Interregnum's current portfolio comprises the following 
   IT and IT-related  investments:

     -    Link Software (www.linkforwindows.com)
     -    Geoconference (www.geoconference.com)
     -    CallCentric (www.callcentric.com)
     -    Catalyst Solutions (www.catalyst-solutions.com)
     -    Open Text Corporation (www.opentext.com)
     -    Trilogy Broadcast (www.trilogy-broadcast.com)
     -    Adaptive Limited (www.adaptive.com)
     -    Respond UK plc (www.respond-uk.co.uk)
     -    Mediasurface (www.mediasurface.com)
     -    NetInfo (www.netinfo.co.uk)
     -    MarkIT Information Services Limited
          (www.markitinfo.co.uk)
     -    Computerwire (www.computerwire.com)
     -    Xpert Client Software (www.xpertclient.com)
     -    Sapphire (www.dataease.com)
     -    Greenwich Mean Time (GMT) (www.gmt-2000.com)
     -    Synaxia Networks (www.synaxia.com)
     -    Iconics Computer Consultancy (www.iconics.co.uk)
     -    OnBoard Info (www.onboardinfo.com)
     -    FER (www.ferl.co.uk)
     -    Zilex.com (www.zilex.com)
     -    Geodesia (www.geodesia.com)
     -    Proactive Interactive
     -    ItsWine.com (www.itswine.com)
     -    Knowledge = Power
     -    Thumb Candy