LONDON, September 3 /PRNewswire/ --

In the news release, "BIWE Technologies' Directors Announce Successful 
Recapitalisation" issued on 3 Sep 2009 13:29 GMT, by BIW Technologies 
Limited over PR Newswire, we are advised by a representative of the company 
that the headline should be revised to "AIM-bound BIW Technologies 
Announces Successful Recapitalisation - the Firm is Key Player in the 
Construction of the 2012 London Olympic Village". The two subheaders should 
also be displayed as one: "Recapitalisation Backed by Largest Shareholder 
Gives the Company Strong Platform for Continued Success" as incorrectly 
transmitted by PR Newswire.

Complete, corrected release follows:



AIM-bound BIW Technologies Announces Successful Recapitalisation - the 
Firm is Key Player in the Construction of the 2012 London Olympic Village



- Recapitalisation Backed by Largest Shareholder Gives the Company Strong 
Platform for Continued Success

BIW Technologies, one of the world's leading providers of
online construction and engineering project control software, has announced a
recapitalisation backed by the company's largest shareholder to provide a
strong, debt-free platform for continued success.

BIW, led by CEO Colin Smith, finance director Bill Flind and
sales director Steve Cooper was refinanced by NovaVest Fund 1 LP, which is
advised by Tempo Capital Partners LLP. In addition to the settlement of all
outstanding corporate debt (amounting to GBP3.5m in aggregate) the deal
secures around GBP300,000 of new working capital to further develop the
business.

BIW is now wholly financed by equity and, as a result, there
is no ongoing burden of cash interest or dividend payments to its financiers.
As a result, the directors of the Surrey-based company believe that with
profitable trading, cash reserves and no debt, it is significantly more
financially secure than its peers and is best placed to capitalise on any
upturn in the economy.

Despite the difficult economic environment BIW is trading
successfully. Turnover in the financial year to 30 September 2008 was close
to GBP7.5 million, generating an operating profit in excess of GBP1 million.
The company continues to trade profitably in 2009.

The delivery of collaboration services on a software-as-a-service (SaaS)
basis is a fast-growing international market and BIW Technologies is the
European leader in SaaS collaboration systems for construction and
engineering projects, measured by numbers of users, usage and volume of data.

BIW's customers include a host of top public sector and blue-chip private
sector clients, including Sainsbury's, Barclays, HBOS, Interior Services
Group, the Coal Authority, Canary Wharf, Cambridgeshire County Council, the
UK Ministry of Defence, Mace, Bovis Lend Lease, the Wellcome Trust, Gleeds
and developers Land Securities and Argent.

Colin Smith, CEO of BIW Technologies, comments:

"This is great news for all the company's customers and
creditors. BIW is now financially and operationally far stronger, there is no
debt and we have strong cash reserves. This is a very healthy position in
today's difficult economic climate. Despite the downturn BIW continues to
trade successfully with strong revenues and profits, plus we have a number of
promising strategic developments which will begin to bear fruit in 2010."

Note to Editors

- BIW (http://www.biwtech.com) is the European leader in
    web-based collaboration systems for the construction and property 
    industry, measured by numbers of users, usage and volume of data.

    - The company supports projects in more than 20 countries
    across Europe, the Middle East, Asia, Australasia and North America. BIW
    opened an office in the United Arab Emirates in 2006 and an offshore
    development centre in India in October 2007

    - The recapitalisation was financed by NovaVest Fund 1 LP,
    which is advised by Tempo Capital Partners LLP (http://www.tempo-cap.com)
    , which was the largest shareholder and creditor of BIW PLC.

LONDON, September 3 /PRNewswire/ --

For further information please contact:

- Richard Phillips, (PR Contact) Tel +44(0)2071934257