LONDON, June 23 /PRNewswire/ --

- Stockford Group Invests Over GBP600K for Business Growth and Appoints
Channel Development Expert Neil Robertson as CEO -

Vectra IT, a provider of e-procurement and expense solutions
(http://www.vectra-it.com) today announces that it has secured a +GBP600,000
investment from the Stockford Group. New Chief Executive, Neil Robertson, has
also made a significant private investment in the company and will be
responsible for migrating the company activity to a 100 percent channel-based
business.

Stockford Group, the investment arm of Sir Peter Michael's
group of businesses, selected Neil Robertson on account of his extensive
channel development expertise. The company is looking to significantly extend
its UK channel programme to help IT resellers target the mid-market with
Vectra IT's inSight e-procurement and expenses software suite. Robertson is
currently working with key partners and expects to launch a large scale
channel recruitment drive in September.

inSight is a mature and fully proven e-procurement solution
with a customer base that includes The Football Association and exclusive
interior designers and property developers Candy & Candy.

Chief Technology Officer and Founder, Paul Ashford, will focus
on the on-going development of the flagship inSight Procurement product, and
expense management solution, inSight GBPxpense. The company has immediately
recruited staff and is expected to expand further over the next quarter.

Neil Robertson, Vectra IT CEO, comments: "Paul has achieved
extraordinary success over the past nine years, but it was very clear that
Vectra IT needed a lot more resource to maximise the opportunity he had
created. This new investment has secured the road to expansion and we look
forward to being able to continue to deliver the quality of services and
solutions our customers require to develop and grow their businesses."

inSight delivers tight integration with a growing number of
financial accounting solutions including Microsoft Dynamics, Sun Accounts,
Coda, Sage and SAP application software, providing significant additional
sales opportunities for the channel providers of these back office solutions.

Robertson adds, "The strength of the design and usability of
inSight is ideal to address the e-procurement mid-market. Our new pricing
model brings the solution within financial reach of the majority of
mid-market organisations and is very compelling for larger organisations."

InSight Procurement
http://www.vectra-it.com/products/?_$ja=tsid:5095

About Vectra IT Limited

Founded in 1999, Vectra IT is a provider of e-procurement and
expense solutions for the mid-large marketplace. Committed to product and
client satisfaction it strives to be at the forefront of technologies in
order to provide best-of-breed software solutions.

About inSight Procurement

inSight from Vectra IT Limited is a Microsoft web-based
e-procurement and expense solution that tightly integrates with most mid-ware
accounting solutions. Providing businesses with immediate cost-control,
inSight controls all aspects of a company's procurement cycle. With the most
advanced, customisable workflow solution and real-time financial integration
inSight provides a winning procurement framework.

About Neil Robertson

Neil has been involved in multiple start up businesses over
the past 30 years - the most relevant probably being CEO of Great Plains
Europe from 1995 - 2001. Under Neil's guidance, Great Plains grew its channel
to become the dominant player in the UK.

Having left Great Plain just prior to the Microsoft
acquisition ($1.1b), Neil founded 3030 Vision, a consultancy business
specialising in CRM solutions. The company was sold 18 months later after an
unexpected approach from Philips.

In September 2002, Neil joined the Neverfail Group, a UK VC-backed continuous
availability software group, and grew its operation in the USA to over 750
resellers, with a further 200 Partners in the UK, Europe and ROW. The success
of the channel strategy has delivered 45% compound growth quarter on quarter.

About Stockford Group

Stockford is the principal investment holding arm of Sir Peter
Michael's private office.

Sir Peter is a veteran of industry and investment, having
created, backed and chaired numerous IT and media companies including UEI
plc, Cray Electronics, Neverfail Group, Classic FM and GCap Media plc.

Stockford's other holdings and interests include: The Vineyard
Hotel, The Peter Michael Winery and Highcross, a GBP1bn fund management
group.

Stockford's interest in Vectra IT is represented by William
Wallis, a former corporate lawyer and long standing colleague of Sir Peter's,
who heads up Stockford's venture business.

For further information, please contact:
    Richard Botley/ Krista Cundy
    The itpr Partnership
    t. +44(0)1932-578-800
    http://www.itpr.co.uk
    richardb@itpr.co.uk / kristac@itpr.co.uk

    Neil Robertson
    CEO
    Vectra IT
    t. +44(0)1603-821131
    http://www.vectra-it.com
    info@vectra-it.com