Investment in Link Software

Interregnum PLC
18 December 2001


Tuesday 18th December 2001



                               INTERREGNUM PLC

                                PRESS RELEASE

         £360k Investment in Link Software & New Link CEO Appointment

Interregnum plc ('Interregnum'), the IT investment and advisory house, today
announces that it has invested £360k (Euro 600,000) in Link Software NV
('Link') a developer of e-Collaborative software based in Belgium and listed
on the Euronext exchange in Brussels. The new funds will be used to continue
the geographical expansion of the company.

Link provides technically sophisticated but easy to use software to support
collaborative working within SMEs (small and medium sized enterprises) and the
departments of larger companies. The software uses relational databases
combined with the applications most commonly used in offices. Collaborative
working means sharing common information such as documents, spreadsheets, name
and address records and emails automatically and without the need for
specialist systems knowledge. The Link products work on two of the most
ubiquitous platforms in use today - Microsoft Windows and the World-wide Web.

To the year ended 30th September 2001, Link generated sales of Euro 480,000
and increased its installed base to over 4,500 users at 260 sites in Belgium,
France and the UK. Belgian customers include IFPME, Brussels Regional IT
Centre, Umicore and Forem. Link has recently generated sales from Banque
Paribas, Technopole and Bryan & Garnier in France. The company
(www.elinksuite.com) is headquartered in Brussels and employs 28 people.

Link has also announced the appointment of Antoine Messina as Chief Executive
Officer. Antoine Messina has over 18 years experience in the IT and telecoms
industry and was formerly President and CEO of European Marketing and Sales
Group Ltd., a consultancy assisting US companies to build channels in Europe.
Marc Wajnsztok, founder and former CEO of Link will become Vice Chairman.

Commenting on this investment, Ken Olisa, Chief Executive of Interregnum and
Chairman of Link said:

'At Interregnum we work only with high-potential IT companies whose offerings
are, in our opinion, likely to fill a market vacuum. Link's applications solve
a very real problem for workgroups within organisations by sharing vital
information relating to people, projects and companies in an efficient and
non-technical manner. For example, Link's recently announced tight integration
with Microsoft's OutlookTM brings the worlds of email and office documents
together providing smaller organisations with the kind of computing power
usually only available to much larger companies.

                                                                       More...

'Our investment in Link especially underlines our focus on both UK and
Continental European high-potential IT companies. Since 1992, we have raised
over Euro 200 million for investment in 30 EU technology companies. Our
portfolio companies currently provide over 1,750 jobs across 11 EU countries
and we have instigated the formation of 12 EU technology companies.

'Link is a classic Interregnum relationship receiving hands-on marketing,
business and financial help to grow faster and further than would be possible
under its own steam. I am looking forward to working with the management team,
in particular founder Marc Wajnsztok in his new role as Vice Chairman, to seek
new industry partnerships to accelerate the company's growth from its solid
Belgian base.'

Interregnum previously acquired shares to the value of Euro 1.65 million (£
1.02 million) in Link in May 2001.

                                   - Ends -

For more information:
Interregnum plc                                   Tel:     [phone]

Ken Olisa, Chairman

Pip Creed, Senior 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'.
  * 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.

                                                                       More...

  * 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.
  * Its recent investments include:
  * Adaptive: £500,000 in an enterprise repository software firm
  * Respond: £2 million in a CRM software and services vendor
  * Nanomagnetics: £500,000 in an information storage materials company
  * Computerwire: £500,000 in an online IT intelligence researcher and
    publisher
  * Vocalex: £1 million a speech recognition software company
  * Yospace: £750,000 a market leading wireless technology software company
  * Interregnum floated on the Alternative Investment Market ('AIM') in
    March 2000. At 17 December 2001, it is capitalised at £14.65 million.