Britech Technology Foundation Awards Smartlogik and Smashing Concepts Wealth Management Product Development Grant.

Business Editors

LONDON--(BUSINESS WIRE)--Jan. 9, 2002

Smartlogik plc, (LSE: SLK; NASDAQ: SLGK) the knowledge products company, today announced the formation of a new development partnership with Israeli company Smashing Concepts, to produce a wealth management product (Finex).

The partnership will be partly funded by a grant from Britech, the trade organisation that is jointly funded by the British and Israeli governments with the aim of fostering closer co-operation between companies in the two countries to produce world-class products.

Finex is a comprehensive product for financial advisers to automatically store, categorize and retrieve information about the vast number of financial products available in North America and Europe. The new product will help financial institutions improve their service to their target market of high net worth (HNW) individuals.

Finex will incorporate a unique combination of both companies' knowledge technologies enabling users to locate the most relevant product information, and therefore aid advisors in providing 'best-advice'.

In recent years the number of financial products available, particularly to high net worth individuals, has increased dramatically, and now regularly includes hedge fund, private equity and offshore products. Currently, financial advisers are forced to use huge volumes of paper-based information alongside several unconnected computer systems which detail only a fraction of the entire range available.

Stephen Hill, Chief Executive of Smartlogik plc, commented on the partnership:

"There have been suggestions in recent weeks that entry into the wealth management arena by major banks, especially targeting the "mass affluent", has not been as successful as they would have wished. This product, once developed, will significantly improve their competitive edge by enabling them and their customers to quickly and easily access financial product information, adding real value to the services already provided to "High Net Worth" (HNW) individuals."

Smartlogik Group plc (www.smartlogik.com)

Smartlogik Group plc is a knowledge products company, that makes business applications smarter through advanced technology.

It offers a range of technology, application and service products that provide organisations with fresh insight and critical knowledge of their business, markets and competitors. Its products enable faster ROI, increased productivity and revenues while also reducing costs.

Smartlogik's products turn large volumes of corporate data, especially unstructured data such as customer profiles, product specifications and competitor activity, into focussed knowledge that can be readily accessed by the right people within an organisation. By combining this distilled knowledge with a user's business own knowledge and experience, through interaction and dialogue, critical business decisions and activities become far more effective. As a result, critical business applications become effective business tools.

Smartlogik's technology is based upon a unique combination of rigorous mathematics, rules-based processing and machine intelligence. It offers the ability to aggregate relevant information across all types of data, organise this information into meaningful categories, create profiles, identify experts, extract meaning and produce summaries. All of this is done automatically.

Smashing Concepts (www.smashcon.com)

Smashing Concepts is Israel's leading provider of information management services and owns patent pending technology to the Navifind(TM) product. It has developed a cutting-edge information organisation and retrieval technology based on an innovative and unique paradigm and is designed as an enabling technology for information management services and applications.

The company's NaviFind(TM) technology enables content management systems and catalogue builders to provide a unique dynamic e-catalog environment without the need to change the original underlying databases. Such a dynamic environment is vital for reducing the occurrence of lost data as well as eliminating the need to develop search skills or familiarity with the content. These are unattainable in large-scale databases with the currently available technologies. NaviFind(TM) revolutionises the use of large databases or catalogues, both in a defined closed environment and in external dynamically changing databases

Britech Foundation Limited (www.britech.org)

Britech is the Britain-Israel Technology Foundation, a government-backed bilateral organisation providing active support for collaborative R&D ventures between British and Israeli companies.