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Insight Marketing - Client News
Tuesday, January 31, 2006

Additional £0.75m of development capital to expand wireless experts' product
range and sales and marketing activities

January 31, 2006 - Red-M Group, a leading provider of services and products
for managing wireless infrastructure, today announced the company has
secured a further £0.75m ($1.4m) investment from Close Venture Management.
This latest funding successfully completes a private equity investment round
of £5.4m ($9.7m) led by Pi Capital. Other investors included Octopus Asset
Management and existing investors, Funds managed by Apax Partners, and
Interregnum plc.

Dave Richmond, Chief Executive Officer, Red-M Group said "The rapid increase
in the use of wireless communications of many different types creates a need
for organisations to manage the wireless activity in and around their
buildings. This funding will enable Red-M to accelerate the development of
our Total Airspace Management(tm) services and products, to help more
customers make their airspace pay. Our unique ability to deliver these
solutions is reflected in our quality customer base. In addition, this
capital will allow us to extend our reach beyond the U.K."

Red-M provides software products and services for the wireless market and
designs, implements and manages wireless networks across the spectrum of
commercially used radio frequencies for blue chip clients. The company was
formed in April 2005 by the merger of Cellular Design Services (CDS), a
wireless consulting services provider, and Red-M Communications, a vendor of
wireless security probes and monitoring software.

Wireless is one of the fastest growing IT markets and Red-M products and
services already have a proven track record with customers including
airports operator, BAA, property companies such a British Land and
Hammersons, telecoms operators including O2, T-Mobile, 3 and BT Wholesale,
and government agencies.

Commenting on the announcement, Andrew Elder of Close Venture Management
said: "Red-M is operating in a rapidly developing market, and is well
positioned to exploit the ever increasing opportunities, as demand for
wireless management services grow. This funding will facilitate the
company's development and expansion, and is underwritten by the new and
highly experienced management team on board."

- ends -

About Red-M Group Ltd
Red-M designs, delivers and manages multi-spectrum wireless infrastructures
in challenging environments, for mission-critical applications. The
company's portfolio of services, delivered using a structured approach known
as Total Airspace Management (TAM), is underpinned by unique software tools
and products incorporating Red-M's specialist wireless knowledge. Red-M's
TAM approach has been applied for major enterprises, network operators and
the public sector. The Red-M Group was created by the merger in April 2005
of Red-M (Communications) Ltd and CDS Ltd, founded in 1999 and 1995
respectively. Visit http://www.red-m.com

About Close Venture Management
Close Venture Management ("CVM") is one of the longest running and most
successful venture capital outlets in the U.K. Formed in 1996 as a wholly
independent division of Close Brothers Group plc, CVM currently manages a
portfolio of six Venture Capital Trusts (VCTs), which have raised a total of
£260 million to date.

Close's success in the marketplace has been universally recognised and in
2005 alone CVM was named Best VCT Provider by Professional Adviser and VCT
Manager of the Year at the Growth Company Investor Awards. CVM has again
been named Best VCT Provider in the Professional Adviser Awards 2006 .

The core investment strategy of all of the six funds is to offer investors
lower investment risk, whilst providing higher dividend yield and sustained
capital growth. CVM's funding capability ranges from £1 million to £10
million. Larger investments tend to be strongly asset-backed while at the
smaller end of the funding scale Close looks at second or third round
technology propositions. Finally, in the middle ground (investments of
between £1 and £5 million) Close is focused on mainstream growth capital and
smaller MBOs. CVM can be reached on 0207 422 7830. Further information is
also available on http://www.closeventures.co.uk

Press Contacts:
Ann Fielder / Kate Smith
Insight Marketing and Communications
0208 564 6385 / 01625 506 420
afielder@insightmkt.com / ksmith@insightmkt.com


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