Portfolio Updates

RISINGSTARS GROWTH FUND COMPLETES ITS 25TH INVESTMENT

6 December 2004

The RisingStars Growth Fund has completed its 25th investment, by providing funding to Blue Prism Limited, who have developed and author the Blue Prism Automate, a software tool that enables large companies to automate business processes no matter what computer systems they currently use.

Following three years of success in delivering business process automation projects to major clients, Blue Prism will use the funds to enhance its BPA product during a period of significant expansion.

Edward French, the EV Investment Manager responsible for the deal commented, "Large companies have an increasing need to improve the way they use their IT systems to deliver competitive advantage in their front and back office processes. Blue Prism has demonstrated their capacity to solve these problems and create substantial cost savings".

Alastair Bathgate, MD for Blue Prism added, "This investment will support the company through an exciting period of expansion. It will allow further improvements to the product line, expansion of the team and the chance to build strategic partnerships to enable us to better serve our customers".

Blue Prism has previously completed projects for several major banks and a large mobile phone company.

As part of the investment process, the company has relocated to offices in Manchester.