Statement re appointment

Interregnum PLC
11 January 2005


11 January 2005

                                INTERREGNUM PLC

            Subsidiary Company Appoints New Chief Executive Officer

Interregnum plc ('Interregnum'), the technology merchant bank, announces today
that its subsidiary company, Cellular Design Services ('CDS'), which provides
wireless network solutions for complex, high-usage environments, has appointed
Simon Saunders as Chief Executive Officer.

Simon Saunders (aged 38) was formerly Chief Technology Officer of CDS, and is a
specialist in mobile communications systems. He has worked for leading mobile
companies such as Motorola, Ascom and Philips Telecom, is a Visiting Professor
to the Centre for Communication Systems Research at the University of Surrey,
and is a Fellow of the Institution of Electrical Engineers.

Roger Jeynes, Chief Operating Officer of Interregnum, who has been acting as
interim COO of CDS since its acquisition by Interregnum in February 2004,
becomes a non-executive director of CDS. Dr John Forrest, CBE remains Chairman
of CDS.

Commenting on this appointment, Roger Jeynes said:

'Since Interregnum acquired CDS nearly 12 months ago, John Forrest and his team
have led a substantial financial turnaround in the business, achieving a net
after tax profit of £96k in 2004 (2003: loss of £272k) and generating positive
net cash flow of £232k (2003: negative £132k). More significantly, they have
focused CDS on higher-margin, complex wireless infrastructure work, leading to
deeper business relationships with operators such as O2, 3, T-Mobile, and BT,
with equipment vendors such as Nokia, and with large property owners such as
BAA; Simon Saunders has been critical to this transformation of the business.'

                                    - Ends -

Contacts:

Interregnum                                             020 7494 3080
Roger Jeynes, COO

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

CDS                                                     01403 211100
Simon Saunders, CEO

Insight (PR advisers to CDS)                            01625 506409
Linsey Scott


Notes to Editor

   •Interregnum plc (www.interregnum.com), is an AIM-listed technology
    merchant bank (symbol: ITR). Established in 1992, it provides advisory
    services including corporate finance, IP exploitation and commercial due
    diligence to corporates, government, technology entrepreneurs, advisors and
    investors. In addition it invests in technology companies, focused primarily
    on principal equity stakes although, in some cases taking minority equity
    stakes.

   •Cellular Design Services (www.cdseurope.com) provides wireless network
    solutions for complex high-usage environments, with particular capabilities
    in shared infrastructure. Founded in 1995, CDS has enabled the design,
    deployment and successful management of several hundred 2G, 3G, PMR, WLAN
    and broadcast systems.

   •Professor Simon R Saunders, PhD, BSc, FIEE, CEng joined CDS in 1999 and
    has specialised in mobile communication systems throughout his career in
    both industry and academia. He is the author of over 100 papers in learned
    journals and international conferences and of the successful book 'Antennas
    and Propagation for Wireless Communication Systems', published by John Wiley
    & Sons in 1999. He is the inventor of some 15 patents spanning a wide range
    of wireless technologies. Simon has worked for leading mobile companies such
    as Philips, Ascom and Motorola on private mobile radio, paging and digital
    cellular systems. For 7 years Simon lectured in the Centre for Communication
    Systems Research at The University of Surrey conducting prize-winning
    research on improving understanding of the mobile radio propagation channel
    and mobile system and air interface design methods. He is now a Visiting
    Professor to the University of Surrey and a Fellow of the Institution of
    Electrical Engineers. Prof. Saunders has a first class honours degree and a
    PhD from Brunel University



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