Investment

Close Technology & General VCT PLC
12 March 2001


               Investment by Close Technology & General
                       VCT PLC in sparesFinder

Embargoed until 07:30 am 12th March 2001


Close VCT Management are pleased to announce that Close Technology & General
VCT has completed its first technology investment of £500,000 in sparesFinder,
as part of a syndicate investing a total of £2.1 million in second round
funding for this fast-growing inventory management software provider.



Close Technology & General VCT is Close VCT Management's latest VCT, which had
a first closing on 16 January 2001. This new VCT, which is investing in a
balanced portfolio of established, profitable non-technology companies and
technology companies including international quoted technology stocks, is
raising a total of £25 million with a final closing on 3 April 2001.



sparesFinder, founded in early 1998, is a provider of web-based software
solutions allowing large, multi-site companies to pool information about their
available spare parts on a central database. The subscription-based solutions,
which have already been sold to over 90 large industrial companies who operate
in 43 countries, allow sparesFinder's clients to manage these assets more
effectively, decreasing inventory through internal redeployment and by trading
spare parts with other corporate clients of sparesFinder.



Commenting on the investment Ole Bettum, Director of Close VCT Management,
said: 'We are impressed with the sparesFinder management team and what they
have achieved to date. The company's internet based software solution is an
example of new technology addressing the very real issue of how to optimise
the level of spares inventory in large capital-intensive corporations and it
does so in an extremely cost-effective and easy-to-implement manner.
sparesFinder has a clear route to market and is way ahead of any competitive
offerings and consequently, we are excited about the company's prospects'.



Hedley Hamilton, CEO of sparesFinder, said: 'VCTs are one of the more
appropriate sources of funds for young companies like sparesFinder, making
leading VCT managers like Close VCT Management amongst the more experienced
investors at this stage.  Ole has been tracking us for some time and shown
that he understands the particular business issues facing a small company in
fast growth.  We anticipate that this funding will enable us to accelerate our
growth rate further and therefore increase shareholder value'.


For further information please contact:


       Ole Bettum                   Hedley Hamilton    Hamish McFall/John West
       Close Brothers VCT           sparesFinder       Tavistock Communications
       Management
       Director                     CEO                Tel: [phone]
       Tel: [phone]           Tel: [phone]