Re Agreement

Interregnum PLC
14 March 2005



14 March 2005


                                INTERREGNUM PLC


                  Signs Commercial Agreement with DestiNY USA(TM)



Interregnum plc ('Interregnum'), the technology merchant bank, today announces
that it has signed a commercial agreement to provide advisory services on an
on-going basis to DestiNY USA(TM), a 21st Century technology cluster being
developed as part of an estimated US$25 billion initiative in Upstate New York
in the United States.


The agreement with DestiNY USA is expected to generate significant undisclosed
advisory revenues for Interregnum in the current financial year.


Interregnum will provide DestiNY USA and partners with a valuation model for the
commercialisation of the Intellectual Property emerging from technology
businesses in DestiNY USA's Research Centre.


Interregnum will also help establish the 'Venture Engine'. This will include a
package and set of incentives to attract venture capital expertise and funds to
the region, as well as the policies around venture development and investment
for technologies developed at the Research Centre. The emerging technologies
will be installed at DestiNY USA which will act as a route-to-market and as
first enterprise level customer for these transformational technologies.


Commenting on this agreement, Ken Olisa, Chief Executive of Interregnum, said:


'Our agreement with DestiNY USA enables Interregnum to deploy its advisory
skills and in-depth understanding of emerging technologies - which are core to
what we do - on a significant scale, working with some of the largest and most
innovative technology companies in the world.  In addition, DestiNY USA allows
us the opportunity to share in the potential upside of the commercial
exploitation of intellectual property in the US as well as in Europe.


'We are extremely excited to be working with DestiNY USA in creating a 21st
Century technology cluster - and being given a real opportunity to be able to
transform technology into wealth through enterprise and innovation.'



                                    - Ends -





Enquiries:

Interregnum plc                                       020 7494 3080
Ken Olisa, CEO
Tim Gocher, Managing Director

Merlin                                                020 7653 6620
Vanessa Maydon
Rebecca Penney                                        07795 108178


Notes to Editors


Interregnum plc


Interregnum plc (www.interregnum.com) is a technology merchant bank listed on
London's Alternative Investment Market (symbol: ITR).  Established in 1992,
Interregnum buys, sells, advises, invests in and operates technology companies.
Its advisory services include corporate finance, IP exploitation and commercial
due diligence.  The company's clients are principally corporates, government,
technology entrepreneurs, advisors and investors.


DestiNY USA


DestiNY USA (www.destinyusa.com) will be an 800-acre tourist destination - the
biggest construction project in the US.  It will be a showcase resort for
emerging technologies where the ultimate end-user - the consumer - can interact
with newly developing technologies, aimed at improving lifestyle, in an
environment specifically designed to enhance that interaction.  By attracting
both the largest and smallest technology companies as partners, innovation will
be developed collaboratively.


DestiNY USA is the brainchild of Bob Congel, a US billionaire property developer
from Syracuse, who has provided initial funding for this project. Further
capital for construction is being provided by Deutsche Bank, and DestiNY USA is
working with Lehman Brothers and Citigroup for the underwriting.  Building work
for DestiNY USA is expected to start in April 2005.


DestiNY USA will attract 25 million annual visitors, staying on average 3 days
each. It is within one day's drive of over 130 million consumers. DestiNY USA is
located in the heart of Northeast USA, surrounded by underutilised resources, in
a region which has strong universities and infrastructure. Designed to
regenerate the Upstate New York region, DestiNY USA will create 250,000 jobs.








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