Trading Statement

Interregnum PLC
18 December 2001



Tuesday 18 December 2001



                                PRESS RELEASE



                               INTERREGNUM PLC



                                Trading Update



Interregnum plc ('Interregnum'), the IT investment and advisory firm, today
announces that all resolutions were passed at its Annual General Meeting.



The following is a summary of Ken Olisa, Chairman and CEO's statement to
shareholders at the AGM.



'I am pleased to report that Interregnum continues to make good progress since
its year end, despite the on-going turbulence in the global IT sector.  Since
June 30th 2001, we have made three investments totaling £636,000 in
Metapraxis, a management consultancy and software group; Computerwire, a
global technology and communications business information service; and Link
Software NV, a developer of e-Collaborative software.  We also directed the
sale of Datapoint Group's non-core assets in Sweden for £10.9 million which
completed in early December 2001.



Despite current market volatility and one of the toughest fundraising
environments experienced by the private equity industry, we remain confident
of our ability to continue to generate revenues through our core businesses of
Venture Marketing and Research & Consulting, as well as through our new
Corporate Venturing division.   In addition, our dealflow remains strong and,
given the current economic climate, we are seeing extremely attractive
investment opportunities at significantly lower valuations.



We have been encouraged by the strong levels of investor interest in our
Venture Capital Fund.  Although the appetite amongst private equity
institutions for investment into venture capital funds has been recently
dampened by the fall in the value of their overall portfolios, we remain
confident of achieving a first closing of our Venture Capital Fund in the near
future.   While the success of our on-going business is not dependent on the
closing of our Venture Capital Fund, given the strong revenue generation of
our core businesses, the Venture Capital Fund will clearly provide our
business with significant growth potential.



We are delighted to welcome Ian Taylor MP, the former DTI Minister responsible
for the UK's IT sector from 1994 to 1997, as an Executive Director and
Managing Director of our Corporate Venturing division effective from 1st
December 2001.  The Corporate Venturing division provides advice to large
non-IT corporates and early stage technology companies on assessing and
managing the risks and opportunities in cross-sector venture marketing - an
area where we believe there is significant growth potential.

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'Our Venture Marketing and Research & Consulting divisions continue to perform
well. Revenues from our Venture Marketing activities passed the £1 million
mark - an increase of 21% over the previous year - at the year end and we
continue to recruit experienced individuals with significant industry
experience to further accelerate our portfolio growth.  Our life-time IRR
(internal rate of return) was 72%(1) for the year-ended 30th June 2001 and the
nine investments that we have made over the last twelve months, which are
warehoused for our Venture Capital Fund, have in aggregate achieved an IRR of
60% over the same period.



Demand for our research continues to grow - with revenues increasing by 34% at
the year-end compared to 1999/2000.  These revenues are balanced between
research for our investee companies and for institutional investors for whom
we undertake research projects to assess and manage the risk and opportunities
in their IT portfolios.



Overall we remain optimistic for the overall outlook of our business to
continue to transform technology into wealth.'



                                   - Ends -



For further information please contact:


Interregnum plc                              Tel:     [phone]

Ken Olisa, Chairman

Pip Creed, Marketing Executive


Merlin Financial                             Tel:     [phone]

Paul Downes/Vanessa Maydon







NOTES TO EDITORS



Interregnum plc



*        Interregnum plc ('Interregnum') is an IT investment and advisory
company.  It works with high-potential IT entrepreneurs to develop, resource
and implement aggressive, marketing-led, value-building strategies which '
transform technology into wealth'.





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*        It provides both intellectual and financial capital to companies from
conception to exit including:



-         Venture Marketing: working as non-executive directors with IT
companies to develop, fund and implement aggressive business strategies;

-         Research & Consulting: working with innovators and investors on
specific projects where the critical analysis or development of strategies is
involved;

-         Venture Capital: co-investing with institutional and private
investors.  Interregnum is also raising a £75 million venture capital fund.



*        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 29 people.



*        It currently has a portfolio of over 30 IT and IT-related investments
with holdings principally in hardware, software, services and internet
infrastructure businesses.



*        Interregnum floated on the Alternative Investment Market ('AIM') in
March 2000.  At 17 December 2001, it is capitalised at £14.5 million.









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(1) Based on the British Venture Capital Association valuation criteria, and
taking into account realisations, interest received and associated income.