Advising on the commercial impact of technology and
    market changes in telecoms, software and IT services

3 July 2006

Ovum plc

Expansion of research focus with acquisition of US Advisory firm

Ovum plc (OVM.L), a leading provider of research, advisory and consulting services in the global Information, Communication and Technology (ICT) sector, is pleased to announce the acquisition of Summit Strategies, Inc., a US based IT research business.

This is the first acquisition made by Ovum since its IPO in March 2006, and is in line with its stated growth strategy to build the business and expand its product offering and expertise both organically and through the acquisition of specialist, high quality businesses.

Summit Strategies, headquartered in Boston, USA, is a research, advisory and consulting group focused on the disruptive changes that affect IT vendors' market, channel and competitive strategies. The offerings of Summit Strategies are complementary to those of Ovum and fill a gap in the area of utility computing.

Summit Strategies, which generated turnover of $1.9m for the year ended 31 December 2005, has an impressive client base of blue-chip IT companies including IBM, HP, and Microsoft. The company has been advising the majority of its clients for more than 10 years. All the analysts of Summit Strategies will be retained by Ovum and will be supported by Ovum's analyst, customer support and sales teams.

The acquisition will be satisfied by a total consideration of approximately $1.2m, which has been satisfied by the issue of 47041 ordinary shares in the Company with the balance being paid in cash. The acquisition is expected to be earnings enhancing in the next financial year once the integration of the business has been completed.

Application has been made for the admission to trading on AIM of a further 47041 Ovum plc ordinary shares of 50p each. It is expected that these new ordinary shares, which will rank pari passu in all respects with the existing ordinary shares, will be admitted to trading on AIM on 5 July 2006.

The new ordinary shares have been issued to certain vendors of Summit Strategies, Inc. pursuant to the acquisition agreement dated 30 June 2006.

Chris Dines, CEO of Ovum, said:

"This acquisition is in line with our stated strategy of mixed organic and inorganic growth. Summit Strategies brings to us expertise and products in an important and growing area of the IT market. It allows us to develop a stronger relationship with blue-chip IT vendor customers and further strengthens our position in the US market. We have many things in common with Summit Strategies including culture, approach to customers and quality of work. We look forward to working with our new colleagues in developing the opportunities that can be gained through the combination of our businesses."

Tom Kucharvy, President of Summit Strategies, said:

"We are excited to be affiliated with such a respected and professional organisation and see great opportunities to leverage Ovum's capabilities to benefit our clients. We plan to use Ovum's deep understanding of software and service delivery technologies to bring new depth to our industry marketing analysis, their outsourcing skills to complement our broad IT services focus and their global perspective to expand our traditional North American focus. We believe the combination of Ovum and Summit Strategies strengths and focuses will allow us to bring a much more holistic perspective to our joint clients."

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Enquiries:

Ovum 020 7551 9282

Chris Dines, Chief Executive

Summit Strategies +617-931-4600

Tom Kucharvy, President

Bridgewell Limited 020 7003 3000

Shaun Dobson / Nick Lovering

Hogarth Partnership 020 7357 9477

James Longfield / Barnaby Fry / Georgina Briscoe

Copies of the Admission Document have been submitted to the AIM Regulations, part of the London Stock Exchange ("LSE"). Copies are also available from the company on request to Tom Carless, Finance Director, Ovum plc, Cardinal Tower, 12 Farringdon Road, London, EC1M 3HS.

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About Ovum

Ovum's primary activity is providing value-added advisory services and consulting to retained and project clients. The Company acts as a well respected and trusted source of industry data, knowledge and expertise on the commercial impact of technology, regulatory and market changes. Ovum engages in continuous research and industry analysis to determine market dynamics in its specialist sectors.

Ovum has developed long-standing relationships with many of its corporate clients, which include major international blue-chip companies such as: Alcatel, AT&T, BT, Cable & Wireless, Cisco Systems, Deutsche Telecom, Fujitsu, HP, IBM, Microsoft, Telstra and Vodafone.

The Company accepts responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Company (who has taken all reasonable care to ensure that such is the case) the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.

Bridgewell Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Ovum in connection with the flotation and no-one else. Bridgewell Limited will not be responsible for providing advice to any person in relation to the flotation and/or the associated share offer, the contents of this announcement or any other matter referred to herein.

The Ordinary Shares which are proposed to be offered (the "ordinary shares") have not been, nor will they be, registered under the United States Securities Act of 1933 (as amended) (the "Securities Act") and may not be offered or sold, directly or indirectly, in or into the United States absent registration or an exemption from registration. There will be no public offer of securities in the United States.

This announcement does not constitute an offer of, or the solicitation of any offer to subscribe for or buy, any of the ordinary shares to any person in any jurisdiction to whom or in which such offer or solicitation is unlawful. The distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of such jurisdiction. The value of shares can go down as well as up. Past performance is not a guide to future performance. Potential investors should consult a professional adviser as to the suitability of an investment in the shares of Ovum for the individual concerned.