SPARK Ventures plc Presentation May 2008

2 What is SPARK Ventures?  Europe’s largest quoted early stage venture investor  Formed as NewMedia Investors in 1996 and responsible for the following exits:  Floated on the London Stock Exchange (AIM Market) as NewMedia SPARK in 1999  Survived the dotcom crash to deliver the following exits:  Now managing $450m of early stage investments in Technology, Digital Media and Life Sciences ARC Fabless semiconductor £545m IPO London Stock Exchange System C Healthcare information systems £50m AIM IPO Lastminute.com Online travel retailer £ 570m IPO London Stock Exchange Argonaut Games Publisher £88m AIM IPO Elata Mobile Data Software Platform Sold to Intelligentapps OLAP Software Sold to Pricerunner Comparison shopping technology Sold to Tradera Online auction website Sold to Footfall Retail information services Sold to Mergermarket Financial intelligenceProvider Sold to Touch Clarity Online Behavoural targetting Sold to Synaptic Systems Software for IFA market Sold to

3 Key strengths of SPARK Ventures  One of the most entrepreneurial and established early stage investors in Europe  Excellent deal flow from successful entrepreneurs, leading Universities and our position as one of the most active players in our sectors  Unprecedented visibility on trends and opportunities arising from a position in over 80 companies in the sectors  Shareholders include M&G (part of the Prudential), Barclays Wealth Management, Morgan Stanley Investment Management and other well known financial institutions  An experienced investment team who have managed portfolios through several market cycles, consistently delivered successful exits from a high risk investment category, and many of whom have worked together for over 10 years

4 The Team Thomas Teichman, Chairman Founded NewMedia Investors in 1996 (acquired by SPARK) and Founder of NewMedia SPARK Raised over £5bn for companies and backed many successful early stage technology businesses including lastminute.com and ARC 30 yrs VC and investment banking experience - total value of exits exceeds £1 billion Jonathan Gee, Director Responsible for SPARK’s healthcare & life sciences investments. over 15 years experience working with IP driven high growth technology companies as an investor and board member and as Chief Executive of technology exploitation companies His investment focus ranges from drug discovery to devices & diagnostics. Jay Patel, Executive Director Part of the founding team at SPARK Responsible for investments including Kobalt, IMI Mobile and Skinkers Currently focused on opportunities in the mobile sector & India Previously held executive positions at UBS Warburg and BSkyB ACA with KPMG, MBA from INSEAD Martin Williams, Director Responsible for operational matters relating to the institutional fund & VCT’s managed by SPARK. Formerly Finance Director at Advent Venture Partners. Member of the Regulatory Committee of the BVCA. Martin is a chartered accountant and has an MA in Economics from Cambridge University. Sergio Levi, Director Specialises in the semi-conductor & electronics sector Spent 6 years as Vice President of ON semi-conductor, a spin off from the former Motorola semi-conductor group. An Italian national, Sergio also has an MBA from INSEAD. William Lu, Director Focuses on SPARK’s business development in Asia, identifying investment opportunities in greater China. Extensive experience in building hedge fund strategies, technology entrepreneurship in financial analytics software & online gaming. MBA; London Business School. Kiko Duffy, Investment Director Part of the founding team at SPARK Experience in corporate finance with NewMedia Investors advising clients such as lastminute.com Focused on opportunities in the digital media and software sectors MBA ESADE Andrew Carruthers, Chief Executive Officer Founder of NewMedia SPARK On the board of DEM, Antenova & Uniservity Led sale of Footfall to Experian and Pricerunner to Valueclick 10 years of venture investing working with many successful digital media companies ACA, consulting and Corporate Finance with KPMG The key members of the investment team have worked together for 10 years, demonstrating the case for technology investing over two cycles. We are well placed to identify trends early and access the best deal flow in our sectors ahead of other well-known investors. The team is stable, with a balance of skills, and well regarded by entrepreneurs. Andrew Betton, Finance Director & Company Secretary Group Financial Controller of SPARK from December 2000 to August Appointed Finance Director & Company Secretary in 2003 Extensive audit, accountancy and tax experience in an accountancy practice & a shipbroking firm (ACA) Penny Attridge, Director Works with the Universities associated with the Lachesis Seed Fund, helping to identify and develop commercially-valuable IP. Formerly with BTG plc identifying & acquiring early stage inventions from Academia & SME’s in the UK. Notable academic career with over 100 peer-reviewed publications in the field of applied medical microbiology.

5 Recent developments  Acquired management of three more public funds (VCT’s)  Integrated a team with expertise in Life Sciences  Taken over management of funds from leading UK universities, including Oxford, that together account for approximately 20% of the UK’s research base  Now managing funds with LP’s such as:  European Investment Fund; Luxembourg,  Paul Capital Advisors; USA,  NIF SMBC Ventures Co. Ltd; Japan,  GE Equity; USA,  Horizon 21 Private Equity; Switzerland  Norwich Union Life & Pensions Ltd; UK  West Midlands Pension Fund; UK

6 Now over $450m Funds Under Management  Quester Venture Partnership - $140m Limited Partnership. Life Sciences (30%); Technology (70%)  Quester VCTs aggregate $150m LSE listed retail funds. High growth, technology and life sciences  Isis College Funds - $30m technology focused Limited Partnerships (Oxford University)  Lachesis University Challenge Seed Fund - $16m 5 universities – inc Nottingham, Leicester, Loughborough  SPARK plc - $130m balance sheet investments

7 Successful exits in Life Sciences  GlycArtAdvanced Biologicals – Monoclonals7 x return  PowdermedAdvanced Biologicals - Vaccines5 x return  SterixNCEs for hormone-dependent cancers2 x return  AvidexAdvanced Biologicaols – Rhudex1.1 x return  OxonicaDiagnostics & Nanotechnology1.6 x return  MiradaIT / Healthcare1.1 x return  MarksansGenerics to FIPCO4 x return

8 SPARK co-investors Selected co-investors include…. …as well as a number of value added high net worth individuals and entrepreneurs

9 Entrepreneurs’ views on SPARK’s added value Caspar Hobbs, Founder & CEO, Mergermarket “SPARK saw exactly what we were trying to do when we simply had a business plan and lots of enthusiasm, they backed both. They have been great partners and shareholders, supportive and encouraging from the earliest stages of the company and in every phase of its growth. They understand entrepreneurs because they are entrepreneurs. Their wisdom and perspective always added great value.” John Gallagher, CEO, Footfall “SPARK led two rounds of funding and their support over five years was instrumental in the eventual sale of our business to Experian in SPARK were also major contributors to reshaping Footfall’s strategy, assisting in the company’s transition from a hardware vendor to a provider of business intelligence to retailers.”

10 Appendices – Background on SPARK

11 Enabling Technology Infrastructure Services Creation Infrastructure Publishing Infrastructure Advertising Infrastructure Retailing and Delivery Infrastructure Application Infrastructure Device Infrastructure Content Service Providers & Retailers Content creators & publishers Applications Devices Semiconductors Enterprise Storage & Security Network Infrastructure (Internet, Mobile, Broadcast) Software & Services Enterprise Software Sector overview: SPARK investments to-date Digital Media