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Investment in Appshare Limited


For release, 07.00, 2 April 2008

Braveheart Investment Group plc
(“Braveheart” or the “Group”)

Braveheart (AIM: BRH), the technology commercialisation and investment management company, announces that it has made its eighth investment from its Alpha EIS Fund into AppShare Ltd., a recent spin out from the University of Strathclyde. The funding of c. £180,000 also included investment from the University.

AppShare was formed in 2007 to develop a collaborative software solution known as ‘ePlace’. The technology allows the sharing of software applications between users at different locations. Whilst software collaboration systems already exist, ePlace offers significant advantages over existing web-conferencing products. ePlace is intrinsically capable of being more secure than most of its competitors it consumes much less bandwidth and offers many features that add real value to the concept of remote application sharing.

At present the large corporate sector is the main user of collaboration systems. With an estimated spend of £1.1 billion annually, the market is forecast to reach $2.8 billion by the end of 2010. The Company currently has a working ePlace prototype, which it aims to further develop over the next 12 months, utilising the funds raised. The prototype has completed a successful test period at a reference site, a significant milestone in the development of a fully commercial product.

Stephen Behan is CEO of Appshare Ltd. He said: “ePlace is a direct peer-to-peer service. Other commercially available services require users to connect to a virtual space via an intermediary, which has clear security implications. Currently, you have to rely on these intermediaries to not ‘eavesdrop’ on your conversations. ePlace is not a desktop sharing system; it’s an application sharing technology that allows colleagues to ‘look over your shoulder’ as you use an application and explain your work. So far we have yet to find an application that cannot be shared across time zones using this approach.”

He added: “The support of Braveheart, who have such a proven track record in supporting fledgling technology companies, has come as a considerable fillip to us as we look to further develop and commercialise ePlace. Alongside the funding support we have received from Braveheart and the University we have secured a substantial grant award from Smart Scotland; with this funding package in place we are confident that we have a solid platform from which to move forward.”

Commenting on the investment, Geoffrey Thomson, Chief Executive of Braveheart said; “We are delighted to support another spin-out from the University of Strathclyde. AppShare’s ePlace software is uniquely designed to take advantage of a gap in a growing market and its experienced management team have a clear and focussed approach to bringing the product to market.”

For further information please visit www.braveheart-ventures.co.uk or contact:

Braveheart Investment Group
Geoffrey Thomson, Chief Executive
Tel: 01738 587555
gthomson@braveheart-ventures.co.uk

Tavistock Communications (for Braveheart)
Clemmie Carr / Simon Hudson
Tel: 020 7920 3150
ccarr@tavistock.co.uk

Appshare Limited
Stephen Behan, Chief Executive
Tel: 07914 842 028

University of Strathclyde
Kat Ferguson
Tel: 0141 548 4123
kat.ferguson@strath.ac.uk


Notes to Editors

Braveheart was formed in 1997 by four Scottish businessmen as a co-investment vehicle in order to pool their money and knowledge, increase diversification and also reduce risk.

It makes investments in young, emerging, unlisted companies where there is potential for significant growth, through the successful commercialistion of their IP. Typically, Braveheart’s investments are focused on British companies with potential global technology solutions. However, the Group also maintains limited exposure to more traditional businesses.

Braveheart’s portfolio ranges from start-up companies to<


Publisher Contact Information:

Braveheart Investment Group
+44 1738 587555
gthomson@braveheart-ventures.co.uk

Company profile of Braveheart Investment Group
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