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Uovo Ltd. Acquisition Completed by Fi SYSTEM -- Westchester Associates Advisors to Uovo Ltd

LONDON – May 10, 2002 – Westchester Associates Limited (www.westchester.co.uk) today announced that the acquisition of its client, Uovo Ltd. (www.uovo.com), has been completed by Fi SYSTEM (www.fisystem.com). The agreement to acquire Uovo was announced by Fi SYSTEM on December 12, 2001 and was successfully completed on April 25, 2002.

Westchester represented Uovo Ltd. throughout the sale process, which result in a completed acquisition agreement late last year and a final closing of the transaction in April 2002.

Justin Lord, Chairman, Uovo Ltd., stated, “we are very pleased to have completed the sale of Uovo Ltd., to Fi SYSTEM and we are very happy that we engaged Westchester to represent and advise us throughout the process. Westchester handled the process from beginning to end in an extremely professional, and yet, personal manner. Mr. Lord then went on to add, “furthermore, Westchester took a leadership position in the process from the beginning of the engagement and retained their focus and resolve right the way through to, not only the completion of the acquisition agreement late last year, but to the final closing of the transaction last week. We sincerely appreciate and value the service Westchester has provided to Uovo Ltd. and to the completion of a successful transaction for all parties involved.”

About Uovo and Fi SYSTEM

Uovo Ltd. is one of the UK's leading developers of multi-channel transactional systems for eCommerce and customer service. Fi SYSTEM a leading ebusiness and new technologies integrator encompassing all aspects of the e-business process: Strategic Consulting, Web Engineering, New Technologies and Web Marketing.

About Westchester Associates

Westchester Associates are specialists in technology mergers and acquisitions (M&A) services. We represent and advise Sellers and Buyers in M&A projects in the UK, Europe and the USA, with specific focus in software and service businesses.