wire-e set for continued growth following 2.3m VC funding

Mobile communications specialist wire-e ltd has received a 2.3 million investment from a range of investors led by early stage venture capital companies Top Technology and VCF Partners.

Mobile communications specialist wire-e ltd today announced the completion of a 2.3 million investment from a range of investors led by early stage venture capital companies Top Technology and VCF Partners. wire-e will use the investment to finance additional sales and marketing expenditure and product development.

wire-e works closely with mobile operators and application service providers to provide a wide range of high quality mobile telephony and Internet services. wire-es primary service, Rapide, provides a fast and direct way of communicating with colleagues, customers and suppliers, wherever you are. wire-e aims to take advantage of its close working relationship with its key business partners to build on the success of existing Rapide services and to introduce innovative new services.

The leading Rapide service, Rapide Assistant is a personal assistant service that keeps communication flowing whilst users are out of the office. A team of dedicated Assistants can send emails and text messages on behalf of callers. Customers can also record group voice messages or just request telephone numbers from their company directory.

Martin Fiennes, Investment Manager at Top Technology Ventures said "The wire-e team have developed sophisticated applications which are both easy to use and easy to implement -- exactly what we believe the mobile operator and the business user want. We are excited about being part of the Companys future growth".

Jamie Richards, Investment Manager at VCF Partners, adds "We are attracted to wire-e because its generating revenue in a space where other companies offering solutions are finding it difficult to penetrate the market".

Nigel Shanahan, managing director of wire-e, explained, "Since the launch of Rapide Assistant on the Vodafone short-dial code of 1500 in February 2002, wire-e has gained over 150 new customers, many of which are leading FTSE 100 companies. Thanks to this investment, wire-e will be able to extend the Rapide services and explore international markets."

Russell Pope of KBC Peel Hunt, who acted as Corporate Finance Advisors, said " wire-e have demonstrated that, despite current market conditions, companies with a compelling business proposition are still able to succeed in acquiring Investment".

About wire-e ltd:

wire-e ltd is a software company that develops business applications to enable people on the move to communicate and operate effectively. wire-e has designed, built and implemented Rapide, a suite of business services designed for mobile operators to make available to their subscribers.

About Top Technology Ventures

Top Technology Ventures (TTV) is an independent venture capital company which specialises in providing equity funding for early stage UK technology businesses. Founded in 1986, Top Technology Ventures manages funds totalling approximately 42 million. TTV typically make investments of between 0.5m and 1m, normally in the first institutional round post-seed funding, and will invest on its own or alongside other investors.

www.toptechnology.co.uk

About VCF Partners:

VCF Partners is one of the UK's longest established technology venture capital firms focusing on early and development stage investments in the 1m to 5m range. VCF invests across all areas of information technology, communications and manufacturing technology. Its first technology fund, raised in 1985, has achieved excellent returns and invested at an early stage in a number of world-class companies. VCF now advises two venture capital trusts, with funds under management of 58 million, and are fundraising for a new institutional fund. VCF joins the board of its investees and contributes to all key strategic decisions.

www.vcf.co.uk

About KBC Peel Hunt:

KBC Peel Hunt is of the UKs leading full-service investment banking houses advising mid and small-cap companies throughout their corporate development, from the early stages through rounds of private equity fundraising to flotation. It is a subsidiary of KBC Bank and Insurance Holding Company NV of Belgium, a major European bank assurance group listed on the Brussels Stock Exchange. KBC is the second largest financial group in Belgium and is one of the 20 largest financial institutions in the European Union.

www.kbcpeelhunt.com