Initial Public Offering of portfolio company

The directors of Net Investor PLC are pleased to report that a further investment in its portfolio is now a publicly traded company.

• Bookham Technology Ltd. is now listed on NASDAQ and the London Stock Exchange and held its initial public offering on Tuesday, April 11, 2000.
• The investment is held within the Wit VC Fund I LP portfolio.
• Since Net Investor launched in February three companies have made initial public offerings. Three further filings have been made for initial public offering, two in the USA and one in Hong Kong.
• The £100 million initial capital (£97 million net of expenses) raised in February is fully committed to 12 US venture capital funds. Over £80 million has yet to be drawn down for investment. As a result Net Investor shareholders have enviable exposure to a breadth of emerging companies within the global IT sector.
• Approximately £16 million has been invested in companies to date.

Barbara Thomas, Executive Chairman of Net Investor, comments: "With over £80 million yet to be invested through the venture capital partnerships, the fund is now well placed to take advantage of the current correction in the high technology markets."