Correction to Announcement

Interregnum PLC
26 April 2006

26 April 2006


                                Interregnum plc
                        ('Interregnum' or the 'Company')


             CORRECTION TO RNS UK NEWS RELEASE DATED 19 APRIL 2006


The announcement of the Company's proposed change of name and revised reduction
of capital resolution released on 19 April 2006 incorrectly stated the amount
standing on the Company's share premium account as at 21 February 2006 as being
£19,430,946 and at 19 April 2006 as being £21,604,738 and the amount standing on
the Company's share capital account as at 19 April as being £12,197,352.  The
correct amount standing to the credit of the Company's share premium account as
at 21 February 2006 was £19,430,496 and at 19 April 2006 was (and as at today's
date remains) £23,059,284 and  the amount standing on the Company's share
capital account as at 19 April was (and as at today's date remains) £16,742,809.
Consequently, cancellation of the Company's share premium account will result
in reserves of £1,018,156 which, subject to such protections as the Court may
require in respect of the Company's creditors, will be distributable.


Please find below the full amended announcement:


                                Interregnum plc


      Proposed Change of Name and Revised Reduction of Capital Resolution


Interregnum plc was created and is known as a technology bank.  Over recent
months the business has been significantly restructured and its focus
significantly broadened so that it is now working - and intends to work - in a
range of sectors.


After due consideration the Board has concluded that the current corporate name
is no  longer reflective of the Group's new business which is focused on
business turnaround, principal finance and corporate finance across sectors
which include leisure, manufacturing, aerospace, energy and technology.


Accordingly, subject to shareholders' approval at an Extraordinary General
Meeting to be held on 12th May 2006 at 11.00am at the offices of the Company,
22-23 Old Burlington Street, London, the Group Board intends to adopt the name:
'The Parkmead Group plc.'


Reduction in Capital


In addition, a new resolution will be put to shareholders relating to a revision
of the planned reduction in capital.


Shareholders will be aware that on 21 February 2006 a special resolution was
approved to cancel £17,600,000 of the amount standing to the credit of the
Company's share premium account (then standing at £19,430,496). However, before
the Court process was commenced to obtain the requisite sanction of the High
Court to the proposed reduction, the Company underwent a restructuring, which
resulted in material changes to the Company's balance sheet (both in terms of
the level of the Company's share capital and the accumulated losses).


The interim results for the period to 31 December 2005 now show aggregate
retained losses in the Company of £22,041,128. As at today's date the Company's
share capital and share premium accounts stand at £16,742,809 and £23,059,284
respectively. It is therefore proposed to replace the 21 February resolution
with a new resolution which seeks the approval of shareholders to a cancellation
of the entire share premium account so as to ensure that (subject to the
sanction of the High Court) the Company's losses will be eliminated in their
entirety and result in reserves of £1,018,156 which, subject to such protections
as the Court may require in respect of the Company's creditors, will be
distributable.


Before it will sanction the reduction of share premium account, the High Court
will want to be satisfied that the interests of creditors will not be prejudiced
by the reduction and may require that the Company provide protection for
creditors. If such protection is required, it is likely to take the form of an
undertaking to credit sums representing profits of the Company or its
subsidiaries made prior to the reduction of share premium account taking effect
to be credited to a non-distributable reserve until such time as all liabilities
of the Company at the date when the reduction takes effect have been discharged
or the persons to whom they are due agree that it may be distributed. The issue
of appropriate creditor protection is for the Court to determine and the Company
will put in place such creditor protection as the Company considers appropriate
following professional advice and so as to meet the Court's requirements.


The Board believes that the implementation of this proposal will assist the
Company in bringing about a return to ongoing profitability, and firmly believe
that the Company should take this action so as to enable it to be able to pay
dividends in the future, if and when it is deemed to be appropriate.


Ends


For further enquiries:


Interregnum plc                             020 7494 3080

Niall Doran (Chief Executive)



Madano Partnership (PR to Interregnum)      020 7593 4000

Toby Wilkinson/Matthew Moth



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