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14 November 2000

PENTA CAPITAL INVESTS US $5 MILLION IN DATACARE SOFTWARE GROUP

Penta Capital, the UK mid market private equity fund, announced today that they have completed a US$5 million investment of expansion capital in Datacare Software Group, a leading Irish based provider of corporate records management software.

Datacare, which operates in four locations around the world (Ireland, United Kingdom, Canada and the United States), is the preferred partner to over 700 top multinational companies, legal practices and professional service organisations in Europe and North America, including almost 100 of the UK FTSE 350 listed companies. The company secretarial and legal departments of these organisations rely upon the products and services of DSG for the fulfilment of their statutory filing obligations and for their reporting of corporate information to colleagues and clients, both nationally and internationally.

Datacare recently launched Global Corporate Manager, the world's first web based, multi jurisdictional solution offering multinational organisations solid, central control of their corporate records, yet retaining the flexibility to conform to local corporate legislation in many jurisdictions across the world.

Paul Toye, Chief Operations Officer of the Datacare Software Group, said:

"With the increasing globalisation of companies, Global Corporate Manager is a significant step forward for company secretaries, allowing them for the first time the ability to manage their records on a global basis using the power of the internet. We are delighted to have attracted this significant funding package from Penta Capital, which gives us the firepower to further enhance the companies products, and also increase our marketing and customer support activities both in Europe and North America"

David Calder, a Director of Penta Capital who will be joining Datacare's board as non-executive director, added:

"This is an exciting opportunity for Penta Capital to back an established software provider with a track record of innovation. Its new product range provides a solution to the statutory filing requirements of all companies, ranging from global plc's to the SME market. This market is forecast to grow rapidly as the use of electronic filing and e-incorporation increases. We believe that Datacare, which is our first investment in Ireland, is well placed to become the dominant global provider of corporate records management products"

Penta has taken an undisclosed minority stake in Datacare.

Notes to Editors:

Datacare Software Group
Datacare was established in 1983 and it has since grown into a leading provider of corporate records management software. This automates the collection, storage, maintenance and filing of company statutory & compliance records such as directors & officers details, shareholders, company returns & borrowings. Its current shareholders include founder John Kelly, senior management and staff, Enterprise Ireland and Enterprise Equity Ireland Ltd. It is based in Monaghan, Ireland, with offices in New York, Toronto, and London and currently has 40 employees.

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Penta Capital
Penta Capital was founded in September 1999 and is an independently owned and managed private equity house with currently over £115 million under management.
Penta invests in all types of later stage private equity transactions, including MBOs, MBIs, platform investments and development capital. More specifically, it targets UK and Irish mid-market companies valued at between £5 million and £75 million with an emphasis on the leisure, business-to-business services and IT & communications sectors. Penta has a strong preference for investing in businesses with a proven technical and operational capability; it does not invest in start-up or very early stage opportunities. Penta Capital is based in Glasgow.

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