Investment into Yospace

Interregnum PLC
23 December 2002

23 December 2002


                                 PRESS RELEASE

                                INTERREGNUM PLC

                 Investment into Yospace Technologies Limited.

Interregnum plc ('Interregnum'), the information technology investment and
advisory firm, announces that in October it led the formation of Yospace
Technologies Limited ('Yospace'), leading provider of infrastructure and
applications software to the wireless industry.  Interregnum, alongside other
parties, has invested in Yospace to acquire the business and assets of Yospace
Holdings Limited as well as the acquisition of the share capital of Yospace Ltd
and Yospace LLC.

As part of the transaction, £530,000 of Interregnum's historic secured debt
position in Yospace Holdings Limited has been leveraged in exchange for a
secured debt position and equity in Yospace.  Interregnum has also made an
additional cash investment representing 50% of the new money invested in this
round.  Management and employees have secured a significant equity stake.

With strong market acceptance of the Yospace product set by wireless carriers
and content providers and despite the costs associated with the transaction, the
Yospace management team have reported a significant profit in the first month of
trading.

Ken Olisa, Chairman & CEO of Interregnum, commented:

'We believe Yospace is one of the most exciting wireless software businesses
world-wide.  The company is well positioned for future growth, has significant
blue-chip customers and prospects, and has a solid deal pipeline.'

Tim Sewell, Chief Executive Officer of Yospace, added:

'The Yospace team has built a solid reputation for delivering high quality,
innovative solutions to the wireless industry specialising in Multi-media
Messaging Services (MMS) and J2ME technology and product suites.  The success of
data services for the wireless industry relies on the proliferation of
compelling applications that consumers and enterprise users will use widely.
Yospace, through its technology and strategic partnerships, is a key enabler for
the success of this next generation of intelligent usable mobile applications
for consumers and enterprises alike.'

Commenting on the new company Graham Ransom, Chairman of Yospace, said:

'Yospace is ideally placed to add considerable value for wireless participants.
In particular, we possess both the products and the expertise to drive MMS
customer acquisition, usage and revenues.  I am pleased that this transaction
has resulted in a company that is structured to address this major opportunity
and I am delighted that management and staff have a considerable stake in the
company's future.'

Yospace is currently headquartered in West London, and employs 25 staff.
Yospace Technologies Limited is headed by a new management team comprising
Graham Ransom as Executive Chairman, Tim Sewell as Chief Executive Officer, Dave
Springall as Chief Technology Officer and Dr Mike Fletcher as Chief Operating
Officer.

                                     -Ends-


For further information on this transaction please contact:

Ken Olisa
Interregnum plc                                              Tel: [phone]
Graham Ransom
Yospace Technologies Limited                                 Tel: [phone]
Paul Downes/Vanessa Maydon
Merlin Financial                                             Tel: [phone]

For further background information:

www.yospace.com

www.interregnum.com



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