New Investors Recognise ANT's Success in Digital TV

Over GBP 3 million additional funding will accelerate growth

Cambridge, England, 5 May 2004

ANT Limited has gained the backing of a group of 11 prominent technology investors, with the conclusion of a GBP 3.39m (USD 6m) funding round aimed at accelerating the company's commercial development.

"Over the last three years since we last went to the venture market, ANT has become profitable and cash-generating," said Simon Woodward, President and CEO of ANT Limited. "Having built a robust base for the business in a difficult economic climate, we now feel the time is right to invest in growing more aggressively. This additional funding will help us to capitalise on what we see as a sweet-spot in the market, and to target new opportunities for growth."

ANT's software has been extensively deployed in consumer products around the world and the company has become a dominant player in the broadband TV market. Further success came earlier this year, when the Fresco Lite browser was integrated in a new generation of set-top boxes for use by Germany's largest cable TV company. The latest round of funding will allow the company to exploit the diversity of its products and technology, expanding in the home TV entertainment and consumer electronics markets, including the broadband, satellite, terrestrial and cable TV markets.

Led by technology investor Richard Farleigh, the syndicate of investors includes VCs Pall Mall and Top Technology and a group of experienced private investors. "ANT is a successful business with potential to do much more," said Farleigh. "The key elements are in place: the company has a diverse range of technologies for which there is a demonstrable need in the market; but just as importantly, ANT has the management and the people who are capable of making the venture a success."

About ANT Software Limited

ANT plc (www.antplc.com) is a leading provider of digital TV client and consumer electronic software solutions. ANT's unique client solutions allow robust and consistent delivery of digital-media, user interfaces, interactive services and applications to the TV and portable media devices. ANT enables service providers to efficiently create and deploy successful solutions to the market that deliver high value and clear differentiation.

ANT's products are pre-integrated with many industry-leading solutions and are based upon open standards, enabling low-risk, cost-effective roll-out of services, while ensuring flexible client hardware choice with efficient bill of materials. ANT software has been extensively deployed by customers throughout the world including Chunghwa Telecom, Foxconn, France Telecom, Humax, LG/Nortel, Philips, Sagem, Samsung, SaskTel, Telecom Italia and Thomson.

ANT plc's shares are listed on AIM, a London Stock Exchange regulated market, under the ticker ANTP (Reuters: ANTP.L, Bloomberg: ANTP.LN).

Trademarks

ANT, the ANT logo, Galio, Fresco and PurePlay are all trademarks or registered trademarks of ANT Software Limited. All other brand and product names are trademarks or registered trademarks of their respective owners.

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