Board Changes

Interregnum PLC
23 December 2002


23 December 2002

                                PRESS RELEASE

                                INTERREGNUM PLC

               Changes in Board Organisation and Responsibilities


Interregnum plc, an information technology investment and advisory company, has
announced the following changes to its Board:

 1. Appointment of Graham Ransom to head new Interregnum franchise
 2. Stanley Stern and Teddy Rosenberg to step down as non-executive directors
 3. Formation of an Advisory Board, to be chaired by Dr John Forrest, CBE


1. Appointment of Graham Ransom to head new Interregnum Franchise


Graham Ransom, who has been an executive director of Interregnum since 1995, has
formed a new company, Venture Marketing Limited, which has been granted a
non-exclusive franchise to use Interregnum's intellectual property, brand and
trademarks in a territory distinct from Interregnum's existing direct activity.
The new business will pay a franchise fee to Interregnum based on the revenues
and other value which it is able to generate using Interregnum's intellectual
property.

Graham was instrumental in the development of Interregnum's original Venture
Marketing concept, helping high-potential technology companies to develop, fund
and implement innovative, value-building strategies. His work included the
establishment of the Step IT Up!TM seed capital initiative with 3i in the Thames
Valley in 1997. Graham and his company will also undertake work for Interregnum
on a sub-contract basis where necessary, and in the short term this means
representing Interregnum in its relationship with a number of existing investee
clients.

In keeping with the close relationship which a franchise carrying Interregnum's
brand implies, Graham will remain on the Board of Interregnum plc, in a
non-executive capacity, and retain a significant share and option stake in
Interregnum. Interregnum has been granted a right to purchase the new franchise
on privileged terms in the future.

2. Teddy Rosenberg and Stanley Stern stepping down as non-executive directors

Teddy Rosenberg and Stanley Stern, who have been non-executive directors since
CIBC's initial investment in Interregnum in 1998, have announced their intention
to step down from the Interregnum Board.

3. Formation of an Advisory Board, to be headed by Dr John Forrest, CBE

Interregnum has announced the formation of an Advisory Board which will provide
a way for the company to benefit from the skills, experience, contacts and
advice of a number of senior figures from the worlds of technology, private
equity, and public policy. John Forrest, a non-executive director of 3i plc and
Chairman of the Government Spectrum Management Advisory Group, will become
chairman of this Advisory Board, and other members will be announced during the
coming months.

As a result of these changes the Interregnum plc Board now consists of:

     Ken Olisa - Chairman & Chief Executive
     Martin Cooper - Finance Director
     Roger Jeynes - Chief Operating Officer
     Adrian Merryman - Chief Investment Officer
     Ian Taylor, MBE, MP - Executive Director
     Geoff Shingles, CBE - Non-executive Director
     Richard Fifield - Non-executive Director
     Graham Ransom - Non-executive Director



Graham Ransom's existing executive responsibilities will be assumed by Ken Olisa
and Roger Jeynes.

Ken Olisa, Chairman and CEO of Interregnum plc said:

'As we continue to extend our range of offerings and client relationships, one
of the challenges we have faced is how to develop our original Venture Marketing
concept in support of fledgling businesses.  This aspect of our business has
long been a particular passion of Graham's.  So I am delighted to have someone
with his reputation and experience leading our first franchise operation.

'Teddy Rosenberg and Stanley Stern have been great friends and supporters of
Interregnum, and I would like to thank them for providing invaluable assistance
and wise counsel to us over the last four years.

 'I am particularly pleased that John Forrest, with his wealth of private equity
and IT industry experience has agreed to chair and help us build a new Advisory
Board, extending the reach of Interregnum, and providing a boost to our fund
raising activity.'


                                    - Ends -

For further information:

Interregnum plc                                    020 7494 3080
Roger Jeynes

Merlin Financial                                   020 7606 1244
Vanessa Maydon                                     07802 961 902 (mobile)
Clare Maciocia                                     07876 561 305


Notes to Editors

•    Interregnum plc is an information technology investment and advisory
     company. Founded in 1992 by Ken Olisa, Interregnum is headquartered in 
     London, employs 20 people, and works with technology companies,      
     entrepreneurs, and other investors to transform technology into wealth.

     Interregnum provides both the intellectual and financial capital which
     technology companies need at each stage of their life cycle, from 
     conception through to exit. 250+ man-years of experience in the technology 
     and corporate finance sectors are embodied in proprietary methodologies 
     such as the Four Pillars of Value(c) to support offerings in research, 
     market assessment, valuation, due diligence, acquisition, venture capital, 
     corporate venturing, and recovery.

     Interregnum is quoted on the London Stock Exchange's Alternative Investment
     Market (symbol: ITR), and is regulated by the Financial Services Authority.

•    For further information, www.interregnum.com



                      This information is provided by RNS
            The company news service from the London Stock Exchange