Portfolio Company Funding

Interregnum PLC
13 December 2005



13 December 2005

                                INTERREGNUM PLC

    Portfolio Company Red-M Completes £4.6m Private Equity Investment Round

Following its RNS announcement of 3 June 2005, Interregnum plc ('Interregnum'),
the technology merchant bank, today confirms that its portfolio company Red-M
Group ('Red-M') has successfully completed a private equity investment round of
over £4.6m led by Pi Capital. Other investors in the round include Octopus Asset
Management, Apax and Interregnum.

Red-M was formed in April 2005 by the merger of Cellular Design Services (CDS),
a wireless consulting services provider, and Red-M Communications, a vendor of
wireless security probes and monitoring software. The merged company has unique
intellectual property relevant to wireless infrastructure and security, and its
customers include airports operator BAA, property companies such as British Land
and Hammersons, telecoms operators (including O2, T-Mobile, 3, BT Wholesale),
and government agencies.

Roger Jeynes, executive director of Interregnum and non-executive director of
Red-M, commented: 'This investment will enable Red-M to pursue aggressively the
huge market opportunity presented by the growth in wireless networks, and is a
great endorsement of Dave Richmond (Chief Executive of Red-M) and his management
team. We are delighted to have Pi Capital and Octopus Asset Management join
ourselves and Apax as significant investors in the group.'

Interregnum will own approximately 20% of the issued share capital of Red-M post
this funding round, in addition to some secured debt.

                                    - Ends -

Further enquiries:

Interregnum                                  020 7494 3080
Roger Jeynes                                 07971 545417

Merlin (PR advisers to Interregnum)          020 7653 6620
Vanessa Maydon
Rebecca Penney

Red-M                                        01628 819 700
Dave Richmond, CEO

Pi Capital                                   020 7629 9949
Paul Thomas


Notes to Editor

   • Interregnum plc (www.interregnum.com) is a technology merchant bank
     listed on London's Alternative Investment Market (symbol: ITR). Established
     in 1992, Interregnum buys, sells, advises, invests in and operates
     technology companies. Its advisory services include corporate finance, IP
     exploitation and commercial due diligence. The company's clients are
     principally corporates, government, technology entrepreneurs, advisors and
     investors.

   • Pi Capital is an independent private equity house investing in growing
     UK unquoted businesses. It specialises in smaller buyouts and expansion
     capital for businesses seeking £1.5 million to £5 million across a range of
     sectors. What makes Pi Capital different is that it represents a network of
     the UK's most successful entrepreneurs and business builders, whose diverse
     and unique contacts and skills can add real value to the companies Pi
     Capital supports, both during due diligence and post investment. Private
     Investor Capital Limited is authorised and regulated by the Financial
     Services Authority. Further information can be found at (www.picapital.co.uk).






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