Portfolio Update

4 July 2006

                                Eurovestech plc                                

                                ("Eurovestech")                                

                               Portfolio Update                                

Eurovestech, the development capital investment fund, announces an update and
commentary on recent developments regarding its principal portfolio companies.

ToLuna plc ("ToLuna")

ToLuna is a leading European independent provider of online panels and
technology services to the market research industry.

On 29 June 2006, Cenkos Securities Limited, Eurovestech's broker, placed
2,245,000 ToLuna shares with institutional clients at 130p realising £2.9
million before costs. The disposal proceeds represent a significant return over
the book cost of £2 million, being Eurovestech's total cost of investment in
ToLuna to date.

Following this transaction Eurovestech now holds 20,475,300 shares, equivalent
to 57 per cent. of ToLuna's issued share capital.

At 3 July 2006, based on the mid-market share price of ToLuna, Eurovestech's
residual holding is valued at £29.5 million.

In May 2006, ToLuna reported that the move to conducting market research online
was accelerating in Europe and that it was experiencing a rapid growth in
revenue and operating profits, which were both ahead of expectations.

Knowledge Support Systems ("KSS")

KSS is a leading provider of pricing and revenue management systems for the
retail and petroleum sectors. Eurovestech owns 100 per cent. of the issued
share capital of KSS.

In recent weeks, KSS has secured several important customer wins including
Safeway US, Circle K (a leading North American convenience store chain with
more than 2,000 stores across the USA), GetGo, part of Giant Eagle Inc. (a US
food retailer with annual revenues of more than $5 billion) and Q8 Italy.

In December 2005, we reported that the precise timings of prospective customer
wins were difficult to predict. As a result of delays in closing some
contracts, which are now expected to be signed in the coming weeks, KSS's
revenue for the year ended June 2006 was below its management's expectations.
However, one of the delayed contracts, a £0.4 million licensing and
implementation deal, was closed immediately following KSS's year end.

The management of KSS is forecasting strong first half sales and we believe
that KSS's revenue outlook and overall prospects remain encouraging.

Magenta Corporation Limited ("Magenta")

Magenta is a provider of intelligent software agent technology and advanced
application development services with particular strength in real-time resource
allocation and scheduling. Magenta builds innovative systems to enable its
customers to differentiate themselves and gain a competitive edge.

Eurovestech is pleased to announce that Frank Lee has been appointed Executive
Chairman of Magenta. Mr Lee has a track record in the leadership, development
and growth of IT and Professional Service firms. He has substantial
international experience, including the management of offshore capabilities in
Russia and India. His prior positions include: head of infrastructure services
for Tata Consultancy Services; and vice president in Europe for Hewlett
Packard.

Eurovestech has recently completed a £1.0 million investment in Magenta,
increasing Eurovestech's shareholding from 37.7 per cent to 43.7 per cent of
Magenta's fully diluted issued share capital, after allowing for the
anticipated issue of employee stock options. Following this investment,
Eurovestech's total cost of investment in Magenta has increased to £2.4
million.

Eurovestech is delighted to report that Magenta is in advanced stages of
discussions with a leading UK transportation group for a £0.75 million
outsourcing contract which would represent Magenta's largest single order to
date.

Mykindaplace Limited ("Mykindaplace")

Eurovestech is pleased to report that on 30 June 2006, Eurovestech sold its
entire shareholding in Mykindaplace for £0.5 million in cash to Sky New Media
Ventures Limited, a wholly owned subsidiary of British Sky Broadcasting Group
plc. The book cost of this shareholding was £0.4 million.

Richard Bernstein, Chief Executive of Eurovestech said: "We believe that in
recent months, each of our three most significant portfolio holdings, ToLuna,
KSS and Magenta, has increased shareholder value. In particular it is pleasing
to note that ToLuna's share price has doubled from its May 2005 placing price
when it was admitted to trading on AIM, and that the outlook for online market
research is extremely favourable, KSS has generated significant interest in the
growing price optimisation market and Magenta has made considerable progress in
the intelligent agent software and outsourcing solutions market. For these
reasons, I have considerable confidence in our prospects."

Further enquiries:

Eurovestech plc

Richard Bernstein Telephone [phone]

Chief Executive