INCAT International plc Completes Placement of Shares on the London Stock Exchange's AIM

LONDON and DETROIT, Dec. 6, 2004 -- INCAT International plc, a provider of software solutions and associated services to automotive, aerospace and industrial manufacturers, announced today that it has completed a placement of its shares on the London Stock Exchange's Alternative Investment Market (AIM) and its shares have commenced trading on AIM.

"We are delighted to have completed the offering on AIM," said INCAT CEO Ulrich Herter. "The proceeds from the offering provide us with additional financial strength, enabling us to accelerate our investment plans, pursue growth opportunities and enhance the ability to make acquisitions."

Highlights:

* The company raised approximately 4 million pounds Sterling ($7.6 million USD) through a placing of shares at 128 pence per share ($2.43 USD). In addition, the placing also included the sale of shares to raise approximately 9.2 million pounds Sterling ($17.48 million USD) for existing shareholders.

* The net proceeds of the placing will be utilized by the company for the purposes of working capital and, when relevant opportunities arise, will allow the pursuit of growth opportunities

  Placing statistics
   IPO Placing Price                                      128p ($2.43 USD)
   Net proceeds of the Placing receivable by the Company  2.8 million pounds
                                                           Sterling
                                                          ($5.3m USD)

The Company's shares have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws and so shares in the Company may not be offered or sold in the United States absent registration under such acts or an applicable exemption from such registration.

About INCAT

INCAT was established in the UK in 1989 and focuses primarily on Product Lifecycle Management (PLM). The Group employs more than 600 people and provides consulting, engineering, training, systems support services and technology solutions to more than 2,000 clients worldwide.

INCAT is based in Bristol, UK, and operates through two other offices in the UK, thirteen offices in the United States -- including its North American headquarters in Novi, Mich., three offices in Mexico, three offices in Germany, and an office in each of Japan, the Netherlands and Canada.