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[Meier M]

zu solch einen preis! hier sind wie immer schnelle 50%
realisiert.

Mfg

[Meier M]

INTERWOVEN INC (IWOV)

Quarterly Report (SEC form 10-Q)

Item 2. Management`s Discussion and Analysis of Financial Condition and Results of Operations

This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934, including statements regarding deferred compensation costs, expansion of our professional services organization, expected increases in expenses, and other
expectations regarding future financial and operating results. All forward-looking statements included in this document are based on the information available to us on the
date hereof, and we assume no obligation to update any such forward-looking statements. Forward-looking statements involve risks and uncertainties, and actual results
may differ materially from the results discussed in this report. Factors that might cause such a difference include, but are not limited to those discussed in "Factors
Affecting Future Results". Readers are urged to review and consider carefully our various disclosures, in this report and in our Annual Report on Form 10-K as
amended, that advise interested parties of risks and uncertainties that affect our business.

As a result of our limited operating history and the emerging nature of the market for web content management software and services in which we compete, it is difficult
for us to forecast our revenues or earnings accurately. It is possible that in some future periods our results of operations may not meet or exceed the management`s
projections, or expectations of public market analysts and investors. If this occurs, the price of our common stock is likely to decline. Factors that have caused our results
to fluctuate in the past, and are likely to cause fluctuations in the future, include:

. the number and size of customer orders and the timing of product and service deliveries, particularly for new web initiatives launched by our customers and potential
customers;

. limitations on our customers` and potential customers` information technology budgets and information technology staffing levels;

. variability in the mix of products and services sold;

. our ability to retain our current customers and attract new customers;

. the amount and timing of operating costs relating to expansion of our business, including our planned international expansion;

. the announcement or introduction of new products or services by us or our competitors;

. our ability to attract and retain personnel, particularly management, engineering and sales personnel and technical consultants;

. our ability to upgrade and develop our systems and infrastructure to accommodate our growth; and

. costs related to acquisition of technologies or businesses.

The following discussion and analysis of the financial condition and results of operations should be read in conjunction with our financial statements and notes appearing
elsewhere in this report

Overview

Interwoven was incorporated in March 1995 to provide software products and services for web content management. Our products allow large teams of people across
an enterprise to contribute and edit web content on a collaborative basis, reducing the time-to-web for critical eBusiness initiatives. From March 1995 through March
1997, we were a development stage company conducting research and development for our initial products. In May 1997, we shipped the first version of our principal
product, TeamSite. We subsequently developed and released enhanced versions of TeamSite and have introduced related products. As of June 30, 2001, we had sold
our products and services to over 790 customers. We market and sell our products through a direct sales force and augment our sales efforts through relationships with
systems integrators and other strategic partners. We are headquartered in Sunnyvale, California and maintain additional offices in the metropolitan areas of Atlanta,
Boston, Chicago, Dallas, Los Angeles, New York City, San Francisco, Seattle and Washington, D.C.

In addition, we have offices in Australia, Brazil, Canada, France, Hong Kong, Germany, Japan, Mexico, Netherlands, Norway, Singapore, Spain, Sweden and the United
Kingdom. We had 987 employees as of June 30, 2001.

We derive revenues from the license of our software products and from services we provide to our customers. To date, we have derived the majority of our license
revenues from licenses of TeamSite. License revenues are recognized when persuasive evidence of an agreement exists, the product has been delivered, the license fee
is fixed or determinable and collection of the fee is probable. In addition to the aforementioned items, when assessing probability of collection, we consider the number of
years in business, history of collection, and product acceptance within each geographic sales region. Services revenues consist of professional services and maintenance
fees. Professional services primarily consist of software installation and integration, business process consulting and training. We generally bill our professional services
customers on a time and materials basis and recognize revenues as the services are performed. Maintenance agreements are typically priced based on a percentage of
the product license fee, and typically have a one-year term that is renewable annually. Services provided to customers under maintenance agreements include technical
product support and an unspecified number of product upgrades as released by us during the term of a maintenance agreement. Revenues from maintenance support
agreements are recognized ratably over the term of the agreement.

We have incurred substantial costs to develop our technology and products, to recruit and train personnel for our engineering, sales and marketing and services
organizations, and to establish our administrative organization. As a result, we have incurred net losses through the quarter ending June 30, 2001 and had an accumulated
deficit of $120.8 million as of June 30, 2001. We anticipate that our cost of services revenues and operating expenses in absolute dollars will increase substantially in the
future as we grow our services organization to support an increased level and expanded number of services offered, increase our sales and marketing operations,
develop new distribution channels, fund greater levels of research and development, and improve our operational and financial systems. In addition, our limited operating
history and the weakness of the current economic environment generally makes the prediction of future results of operations difficult and, accordingly, there can be no
assurance that we will achieve or sustain profitability.

We have generally made business decisions with reference to net profit metrics excluding non-cash charges, such as acquisition and stock-based compensation charges.
We expect to continue to make acquisitions, incur stock-based compensation and intangible amortization charges, which will increase our losses inclusive of these
non-cash expenses.

We acquired a total of three corporations in 2000: Neonyoyo, Inc.; Ajuba Solutions, Inc.; and Metacode Technologies, Inc. Under U.S. generally accepted accounting
principles, we have accounted for the three business combinations using the purchase method of accounting and recorded the market value of our common stock and
options issued in connection with them and the amount of direct transaction costs as the cost of acquiring these entities. That cost is allocated among the individual assets
acquired and liabilities assumed, including various identifiable intangible assets such as goodwill, in-process research and development, acquired technology, acquired
workforce and convenants not to compete, based on their respective fair values.

We allocated the excess of the purchase cost over the fair value of the net assets to goodwill. The impact of purchase accounting on our operating results is significant.
The impact of these mergers and acquisitions resulted in amortization of acquired intangible assets of $21.9 million for the quarter ended June 30, 2001. We have also
recorded deferred compensation related to options assumed and shares issued to effect business combinations and options granted below fair market value associated
with our initial public offering in October 1999, of which amortization was $4.3 million in the quarter ended June 30, 2001.

The following table reflects the prospective impact of deferred compensation costs and the annual amortization of purchased intangibles attributable to our mergers and
acquisitions in the past two years (in thousands). Included in the prospective impact of deferred compensation costs are the projected variable

accounting charges based on the Company`s stock price as of June 30, 2001. The variable component of the accounting charge will be reassessed and reflected in the
income statement each reporting period.

Fiscal Year
------------------------------
2001 2002 2003 2004
-------- ------- ------ ------
Intangible Assets....... $ 88,244 $ 4,073 $1,122 $ 542
Stock-based Compensation 17,588 9,499 4,435 1,807
-------- ------- ------ ------
$105,832 $13,572 $5,557 $2,349
======== ======= ====== ======

Results of Operations

The following table lists, for the periods indicated, our statement of operations data as a percentage of total revenues:

Three months Six months
ended ended
June 30, June 30,
---------- ---------
2001 2000 2001 2000
---- ---- ---- ----
Revenues:
License........................................... 56 % 64 % 60 % 65 %
Services.......................................... 44 % 36 % 40 % 35 %
--- --- --- ---
Total revenues................................ 100 % 100 % 100 % 100 %
Cost of revenues:
License........................................... 1 % 1 % 1 % 1 %
Services.......................................... 29 % 32 % 28 % 33 %
--- --- --- ---
Total cost of revenues........................ 30 % 33 % 29 % 34 %
Gross profit......................................... 70 % 67 % 71 % 66 %
Operating expenses:
Research and development.......................... 14 % 13 % 15 % 14 %
Sales and marketing............................... 47 % 59 % 47 % 63 %
General and administrative........................ 10 % 12 % 10 % 12 %
Amortization of deferred stock-based compensation. 8 % 3 % 8 % 4 %
Amortization of acquired intangible assets........ 40 % 0 % 38 % 0 %
Facilities relocation charges..................... 24 % 0 % 11 % 0 %
--- --- --- ---
Total operating expenses...................... 143 % 87 % 129 % 93 %
Loss from operations................................. (73)% (20)% (58)% (27)%
Interest income and other, net....................... 4 % 14 % 4 % 15 %
Net loss before provision for income taxes........... (69)% (6)% (54)% (12)%
Provision for income taxes........................... 1 % 0 % 0 % 0 %
--- --- --- ---
Net loss............................................. (70)% (6)% (54)% (12)%
=== === === ===

Three months ended June 30, 2000 and 2001

Revenues

Total revenues increased 127% from $24.3 million for the three months ended June 30, 2000 to $55.0 million for the three months ended June 30, 2001. This increase
was attributable to greater market acceptance of our products and services, expanded product configurations and the greater quantity of user seats purchased on
average, as well as an increase in license and services revenues generated by an expanded number of customers who licensed our products. The number of new
customers increased from 363 in the three months ended June 30,

2000 to 791 in the three months ended June 30, 2001. The average sales price of an initial production order was $325,000 for the three months ended June 30, 2000 and
$320,000 for the three months ended June 30, 2001. Our ability to attract new customers was a result of our developing a larger and more experienced sales and
marketing staff, which numbered 180 persons in the three months ended June 30, 2000 and 417 persons in the three months ended June 30, 2001, and a result of
increased levels of partner-influenced sales.

License. License revenues increased 99% from $15.4 million for the three months ended June 30, 2000 to $30.7 million for the three months ended June 30, 2001. The
increase in license revenues in absolute dollars reflects the same factors that caused total revenues to increase from period to period. License revenues as a percentage
of total revenues represented 64% and 56% for the three months ended June 30, 2000 and June 30, 2001, respectively, which reflects strong services revenues. The
decrease in license revenues as a percentage of total revenues reflects delays in customer spending and the general slowdown in the economy, particularly in Europe.
The increase in license revenues in absolute dollars is due to a larger customer base.

Services. Services revenues increased 175% from $8.8 million for the three months ended June 30, 2000 to $24.3 million for the three months ended June 30, 2001.
Services revenues represented 36% and 44% of total revenues, respectively, in those periods. The increase in services revenues as a percentage of total revenues
reflects a $7.9 million increase in professional services fees, a $6.5 million increase in maintenance fees and a $1.0 million increase in training fees. The increased
professional services and maintenance fees were due to increased demand for services and maintenance from a larger customer base and to an increase in the number
of professional services staff.

Cost of Revenues

License. Cost of license revenues includes expenses incurred to manufacture, package and distribute our software products and related documentation, as well as costs
of licensing third-party software sold in conjunction with our software products. Cost of license revenues increased 239% from $201,000 for the three months ended
June 30, 2000 to $682,000 for the three months ended June 30, 2001. Cost of license revenues represented 1% and 2%, respectively, of license revenues in the three
months ended June 30, 2000 and June 30, 2001. The increase in absolute dollars of cost of license revenues was attributable to an increase in royalties paid to third party
software vendors as well as an increase in the volume of products shipped.

We expect cost of license revenues to increase in absolute dollar amounts in the future. We also expect the cost of license revenues as a percentage of license revenues
to vary from period to period depending upon the royalties to third party software vendors and amounts of license revenues recognized in each period.

Services. Cost of services revenues consists primarily of salary and related costs of our professional services, training, maintenance and support personnel, as well as
subcontractor expenses. Cost of services revenues increased 102% from $7.9 million for the three months ended June 30, 2000 to $16.0 million for the three months
ended June 30, 2001. Cost of services revenues represented 89% and 66% of services revenues, respectively, in those periods. This increase in absolute dollars of cost
of services revenues was primarily attributable to an increase in the number of in-house services personnel from 137 to 278. The decrease in cost of services revenues
as a percentage of services revenues was a result of improved productivity in the services organization.

While we have experienced significant increases in our cost of services, we anticipate the cost of services revenues to increase at a slower rate. Since services
revenues have lower gross margins than license revenues, an expansion of services revenues will reduce our gross margins if our license revenues do not increase
significantly. We expect cost of services revenues as a percentage of services revenues to vary from period to period depending in part on whether the services are
performed by our in-house staff or by subcontractors, and on the overall utilization rates of our in-house professional services staff. The utilization of in-house staff or
subcontractors is affected by the mix of services we provide, which is unpredictable.

Gross Profit

Gross profit increased 137% from $16.2 million for the three months ended June 30, 2000 to $38.3 million for the three months ended June 30, 2001. Gross profit
represented 67% and 70% of total revenues, respectively, in those periods. This increase in absolute dollar amounts reflects increased license and services revenues
from a larger customer base, as well as an increase in services revenues. The increase in gross profit as a percentage of total revenues was a result of an improvement
in the effective staff utilization rate of our professional services organization, which offset the impact on gross profit of the decrease in license revenues as a percentage
of total revenues. We have made and we expect to continue to make investments in our professional services organization to increase the capacity of that organization to
meet the demand for services from our customers. We expect gross profit as a percentage of total revenues to fluctuate from period to period primarily as a result of
changes in the relative proportion of license and services revenues.

Operating Expenses

Research and Development. Research and development expenses consist primarily of personnel and related costs to support product development activities. Research
and development expenses increased 149% from $3.2 million for the three months ended June 30, 2000 to $7.9 million for the three months ended June 30, 2001,
representing 13% and 14% of total revenues in those periods, respectively. This increase in absolute dollar amounts was due to increases in the number of our product
development personnel, which grew from 52 to 173 persons, and to higher associated wages, salaries and recruitment costs. We believe that continued investment in
research and development is critical to our strategic objectives, and we expect that the dollar amounts of research and development expenses to increase in future
periods. We expect that the percentage of total revenues represented by research and development expenses will fluctuate from period to period depending primarily on
when we hire new research and development personnel as well as the size and timing of product development projects. To date, all software development costs have
been expensed in the period incurred.

Sales and Marketing. Sales and marketing expenses consist primarily of salaries and related costs for sales and marketing personnel, sales commissions, travel and
marketing programs. Sales and marketing expenses increased 83% from $14.2 million for the three months ended June 30, 2000 to $26.1 million for the three months
ended June 30, 2001, representing 59% and 47% of total revenues, respectively, in those periods. This increase in absolute dollar amounts primarily reflects increases in
sales and marketing personnel costs of $7.3 million. The decrease in sales and marketing expenses as a percentage of total revenues reflects total revenues increasing
more rapidly than sales due to increases in product prices and the management of sales and marketing spending in light of the current economic slowdown. We are
endeavoring to control, and possibly reduce, our sales and marketing costs in absolute dollars throughout the current economic slowdown. We anticipate that, with
evidence of a sustained recovery of the U.S. economy, we would continue to invest in order to expand our customer base and increase brand awareness. We also
anticipate that the percentage of total revenues represented by sales and marketing expenses will fluctuate from period to period depending primarily on when we hire
new sales personnel, the timing of new marketing programs and the levels of revenues in each period.

General and Administrative. General and administrative expenses consist primarily of salaries and related costs for accounting, human resources, legal and other
administrative functions, as well as provisions for doubtful accounts. General and administrative expenses increased 102% from $2.8 million for the three months ended
June 30, 2000 to $5.7 million for the three months ended June 30, 2001, representing 12% and 10% of total revenues, respectively. This increase in absolute dollar
amounts was due to additional staffing of general and administrative functions to support expanded operations. The decrease in general and administrative expenses as a
percentage of total revenues reflects total revenues increasing more rapidly than general and administrative expenses due to increases in product prices and the
management of general and administrative spending in light of the current economic slowdown. We are endeavoring to control, and possibly reduce, our general and
administrative costs in absolute dollars throughout the current economic slowdown. We anticipate that, with evidence of a sustained recovery of the U.S. economy, we
would continue to invest in order to support expanding operations. We expect that the percentage of total revenues represented by general and

administrative expenses will fluctuate from period to period depending primarily on when we hire new general and administrative personnel to support expanding
operations as well as the size and timing of expansion projects.

Amortization of Deferred Stock-Based Compensation. We recorded deferred stock-based compensation of $7.3 million and $30.4 million for stock options granted in
1999 and stock options granted and assumed in 2000, respectively. In 2000, we recorded deferred stock-based compensation of $28.8 million in connection with granting
of stock options and issuance of shares related to the acquisitions of Neonyoyo, Metacode Technologies and Ajuba Solutions. Amortization of deferred stock-based
compensation was $617,000 and $4.3 million for the three months ended June 30, 2000 and 2001, respectively. Approximately $172,000, $65,000, $308,000 and $72,000
of deferred stock-based compensation amortization relates to personnel in services, research and development, sales and marketing and general and administrative
departments, respectively, for the three months ended June 30, 2000. Approximately $148,000, $2.5 million, $1.3 million and $352,000 of deferred stock-based
compensation amortization relates to personnel in services, research and development, sales and marketing and general and administrative departments, respectively, for
the three months ended June 30, 2001. We expect amortization of deferred stock-based compensation to be approximately $17.6 million and $9.5 million for fiscal year
2001 and 2002, respectively, which includes an estimated variable accounting charge based upon the Company`s closing stock price as of June 30, 2001. The variable
accounting charge relates to the stock option exchange program, which is a variable option plan whereby the accounting charge for the options will be reassessed and
reflected in the income statement for each reporting period.

Amortization of Acquired Intangible Assets. In July 2000, we recorded intangible assets of approximately $87.1 million in connection with the acquisition of Neonyoyo,
Inc. Goodwill related to this transaction approximated $77.9 million and intangible assets related to workforce and covenants not to compete of Neonyoyo, Inc.
approximated $7.5 million of the purchase price. The total purchase price for this acquisition was approximately $88.2 million. The purchase price was allocated to the
tangible and intangible assets acquired and liabilities assumed based upon their respective fair values at the acquisition date. In October 2000, we recorded intangible
assets of approximately $27.2 million in connection with the acquisition of Ajuba Solutions, Inc. including goodwill in the amount of approximately $25.7 million and
intangible assets related to workforce of approximately $1.5 million of the purchase price. The total purchase price for this acquisition was approximately $24.9 million.
In November 2000, we recorded intangible assets of approximately $147.9 million in connection with the acquisition of Metacode Technologies, Inc. including goodwill of
approximately $143.5 million, intangible assets related to workforce of Metacode of approximately $1.7 million and completed technology of approximately $2.6 million of
the purchase price. The total purchase price for this acquisition was approximately $152.5 million. Amortization of acquired intangible assets was $51,000 and $22.0
million for the three months ended June 30, 2000 and 2001, respectively. We expect amortization of acquired intangible assets to be $88.2 million and $4.1 million for
fiscal year 2001 and 2002, respectively.

Subsequent to each acquisition date and upon completion of audits of each acquiree, the Company adjusted the fair value of tangible assets assumed resulting in a
purchase price adjustment. For the three months ended June 30, 2001, the purchase price adjustment for Neonyoyo Inc. included a non-cash adjustment of $1.2 million;
the purchase price adjustment for Ajuba Solutions included a cash adjustment of $84,000 and a non-cash adjustment of $435,000; and the purchase price adjustment for
Metacode Technologies included a non-cash adjustment of $182,000.

These acquisitions were accounted for as purchase business combinations. In connection with these acquisitions, we recorded $247.1 million in goodwill and $15.1 million
in other intangible assets. As of June 30, 2001, our stock price has declined significantly since the respective valuation dates of the shares issued in connection with each
acquisition. Subsequent to June 30, 2001, our stock price has been volatile. Due to these changes, along with changes in the markets in which we compete and in the
United States and global economies, we have begun an analysis to evaluate our product offering and cost containment strategies. In connection with our analysis, we
also will evaluate whether the respective fair values of our goodwill and other intangible assets may be less than their respective carrying values. This process will
include an analysis of estimated cash flows

that we expect to generate from future operations for purposes of determining whether an impairment of goodwill and other intangible assets has occurred. If, as a result
of our analysis, we determine that there has been an impairment of goodwill and other intangibles assets, the carrying value of these assets would be written down to
their fair values as a charge against our operating results in the period that the determination is made. A significant impairment would harm our financial position and
operating results if it were recorded.

Facilities Relocation Charges. Facilities relocation charges of $12.8 million were recorded in the second quarter of 2001. These charges relate to the consolidation of our
three existing buildings into a single corporate headquarter location in the Silicon Valley. The charges include the non-discounted cash flow commitments associated with
the abandonment of existing Silicon Valley facilities, netted with estimated sublease income. The relocation charges are an estimate as of June 30, 2001 and may change
as we obtain subleases for the existing facilities and the actual sublease income is known.

Interest Income and Other, Net. Interest income and other, net, decreased from $3.4 million for the three months ended June 30, 2000 to $2.2 million for the three
months ended June 30, 2001 due to the decrease in interest rates earned on cash and short term investments.

Provision for Income Taxes. Income tax expense was $272,000 for the three months ended June 30, 2001, based on pretax loss of $38.2 million. The difference between
the expected tax benefit and the actual tax provision is primarily due to non-deductible acquisition-related charges. Excluding the effect of amortization of deferred
stock-based compensation, amortization of acquired intangible assets and one-time facilities relocation charge on net income, the effective tax rate for the three months
ended June 30, 2001 is 33%.

Six months ended June 30, 2000 and 2001

Revenues

Total revenues increased 203% from $38.1 million for the six months ended June 30, 2000 to $115.5 million for the six months ended June 30, 2001. This increase was
attributable to greater market acceptance of our products and services expanded product configurations

[Meier M]

Securing a successful future
August 16, 2001 12:00 AM ET
by Kent German

From the August 2001 issue of
UPSIDE magazine

If you think the bulls have
wandered too far out of the technology pen, Stephen
Sigmond begs to differ. An analyst at Dain Rauscher
Wessels in Minneapolis, Sigmond says that, even though
the bubble is bursting, the market is becoming more
rational, and, in at least one sector, things are looking up.

"It remains very bullish in the security sector, with
companies making their numbers," Sigmond says.
"Budgets may be cut, but security risks are going up."

Sigmond has followed security ever since he joined
Wessels, Arnold & Henderson in June 1995. After Dain
Rauscher acquired Wessels in 1998, Sigmond moved up
to managing director of Dain`s Internet infrastructure and
applications group, where he now covers Internet software,
content, and services in addition to information security.

While Sigmond recommends security stock, he does so
selectively and warns that, as with any kind of tech stock,
it`s better to not overbuy. "Security is mission-critical to
Internet infrastructure, because the moment you skimp [on
security spending], you`re vulnerable," he says. "As long
as you`ve got one server connected to the Internet, you
need security."

Trend toward outsourcing

He estimates that security outsourcing will become
especially important because of a lack of qualified
personnel within some companies. "It`s usually cheaper for
smaller companies to outsource, and they don`t always
know what they`re doing," Sigmond says.

"And, with a company like Cisco [Systems] (CSCO), it
has to be separate to ensure there`s no bias. You wouldn`t
want a doctor operating on himself."

As for security stock picks, Sigmond suggests Check
Point Software Technologies (CHKP) (whose IPO he
worked on), VeriSign (VRSN) and Netegrity (NETE). In
each of these companies, he found the three main
attributes that he looks for in a stock pick: a company that
thinks big by targeting a huge market, a viral and sound
business model that continually adds new customers, and
a strong, visionary team that not only has the right idea
but executes it like a machine.

"There are a lot of business models out there that are
failing because they never had a chance," Sigmond says.
"But, if a company has leverage, without just throwing
money at sales, that`s important."

On the Internet-content side, Sigmond follows
BroadVision (BVSN), Interwoven (IWOV), and IntraNet
Solutions (INRS). "There are other companies out there
that get no respect," he says. "But, if investors stay with
them, they`ll be successful."

While most investors may not think of the Twin Cities as a
financial capital, Sigmond insists that his Minnesota base
has its advantages. "It`s harder to get caught up in the
hype machine, and being in the center of the country
makes for shorter trips," he says. "Of course, that also
means I have to travel a lot more."

Kent German is an assistant editor at UPSIDE
magazine. If you would like to submit a letter to the
editor regarding this story, email [e-mail].

[Meier M]

Interwoven Selects Liquent Xtent(TM) as Transformation Technology for Its
XML-Based Content Infrastructure

Interwoven to Use Liquent`s Xtent Rendering Technology to Allow Businesses to Re-use Data in
Dynamic Content Environments

FORT WASHINGTON, Pa., Aug. 28 /PRNewswire/ -- ESPS, Inc. (d/b/a Liquent) (Nasdaq: LQNT - news), the premier provider of
global content transformation technologies, today announced that Interwoven, Inc. (Nasdaq: IWOV - news), the leading provider of
Content Infrastructure, has entered into an OEM licensing agreement with Liquent for its Xtent(TM) rendering technology.

Interwoven plans to use Xtent as an integral component of its future products and services. With Xtent, Interwoven`s enhanced suite
of XML product offerings will allow individuals working within an organization to transform legacy file format content and contribute
rich structured data into dynamic content environments, such as the World Wide Web or a company`s intranet, without having to
manually convert the content into HTML or a similar language.

Liquent`s Xtent is a fully automated content transformation engine that integrates with Interwoven`s TeamSite, TeamXML,
TeamCatalog and MetaTagger product lines. It provides these products with high-fidelity XML transformations of popular file
formats for management, storage and intelligent tagging and reuse of content across multiple eBusiness applications and initiatives. A
scalable solution designed to meet enterprise-wide needs, Xtent enables organizations to extract structured and unstructured content
from legacy document management repositories and hundreds of source formats for storage and management in Interwoven`s
next-generation XML content management products, like TeamXML. Xtent automatically creates representations, or ``renditions,`` of
content in an XML schema that retains the integrity, fidelity, and context of the original source information. Transformation to this
schema, which leverages W3C standards, permits the content to be combined, converted and distributed in a variety of popular output
formats, including WML, XML, HTML, XHTML, SVG, PDF, OEB, MS Word and printed paper.

``We are pleased that Interwoven has selected Xtent to be the engine that provides content transformation for its current and future
applications,`` said Jeff Sager, Liquent`s vice president of content technologies. ``With support for hundreds of new and updated file
formats, including Microsoft Office XP, Corel WordPerfect Office 2002, and Lotus SmartSuite Millennium Edition 9.6, Xtent has the
ability to transform content regardless of the source format. As the leader in content transformation, Liquent is pleased that this
functionality will enable Interwoven to provide their customers with the ability to leverage & reuse content created in any authoring
tool. With this capability, Interwoven customers can contribute more content toward the growth of the company Internet site, intranet,
extranet, and other portals.``

``Making information available to customers, partners and employees in a timely fashion is a challenge facing an increasing number of
businesses,`` said Kevin Cochrane, Interwoven`s vice president of product management. ``Xtent provides Interwoven with a
competitive advantage to meet this growing need in the Content Infrastructure marketplace. Liquent is the leader in content
transformation, and using their Xtent technology gives Interwoven a proven core upon which to build our enterprise applications. Built
from the ground up on XML standards, Xtent provides perfect fidelity into viewed documents. Our OEM relationship will allow Interwoven to migrate legacy content
stored in legacy document management systems as XML and store in our next generation XML-based repository. This in turn will enable us to quickly develop the
applications needed to provide our customers with an effective solution for using both new and legacy data as content within today`s Web-based environments.``

Under the terms of the OEM agreement, Interwoven will license Liquent`s Xtent to provide content transformation capabilities to both new and existing customers.

About Liquent

Liquent (formerly ESPS) is the leading provider of content assembly and publishing solutions for the Life Sciences industry. Built on proven, world- class rendering
technology that transforms proprietary content into open formats such as XML and PDF, Liquent software and services are used by 15 of the top 20 global
pharmaceutical companies. As a result, Liquent`s solutions -- including their flagship software, CoreDossier® -- have become the industry standard for the production of
new drug applications (NDAs), reports, bids and proposals, and technical documentation.

Liquent`s content middleware technology enables information assets to be assembled, published, and repurposed for maximum value. Offering seamless integration with
leading document management systems and file systems, their solutions retrieve information from virtually any source format and repository and automatically convert it
into high-fidelity renditions that can be easily combined or distilled to meet any need.

In addition to its headquarters in suburban Philadelphia, Liquent maintains offices in the United Kingdom, La Jolla, CA, Latham, NY, and Research Triangle Park, NC.

About Interwoven

Interwoven, Inc. (Nasdaq: IWOV - news) is the world`s leading provider of Content Infrastructure software. Its content infrastructure product suite includes content
aggregation, content collaboration, content management, content intelligence and content distribution. Its products are the de facto standard for over 700 Global 2000
companies including British Airways, Cisco Systems, General Electric, General Motors and Philips. Interwoven teams with the leading best-of-breed eBusiness
application providers to provide customers an end-to-end platform for eBusiness. For more information on one of the fastest growing software companies in Silicon
Valley and its proven XML-based solutions, visit the Interwoven Web site at www.interwoven.com.

CoreDossier and Liquent Xtent are trademarks or registered trademarks of ESPS, Inc. (d/b/a Liquent).

The statements in this news release, which are not historical facts, are forward-looking statements. These forward-looking statements involve risks and uncertainties that
could render them materially different. Forward- looking statements are typically statements that are preceded by, followed by or include the words ``believes,`` ``plans,``
``intends,`` ``will,`` ``expects,`` ``anticipates,`` or similar expressions. Actual results may differ materially from the results predicted, and reported results should not be
considered as an indication of future performance. These forward-looking statements involve risks and uncertainties that could render them materially different. More
information about factors that potentially could affect ESPS` financial results is included in ESPS` filings with the Securities and Exchange Commission, including its
Quarterly Report on Form 10-Q for the quarter ended June 30, 2001, and its Annual Report on Form 10-K for the year ended March 31, 2001. The forward-looking
information in this release reflects management`s judgment only on the date of this press release. ESPS undertakes no responsibility to publicly update the
forward-looking statements contained in this press release.

[krnchen]

Laßt doch endlich mal diese ellenlangen Texte weg ! Die liest kein Mensch, wenigstens die Hauptaussage könntet Ihr schreiben, mehr bitte nicht.

[Meier M]

haben sie dir ins gehirn geschissen? ich bin froh wenn
einer eine ganze nachricht reinstellt als nur zweifelhafte
aussagen! also für dich heisst es baelle flach halten!

Mfg


vielleicht ein etwas gemässigter ton waere angebracht!

[krnchen]

Sehr schön, eine kurze Kernaussage.

[Meier M]

war vielleicht etwas hart nur ich kann fordernde menschen
nicht ausstehen.

mf

[Meier M]

Interwoven Board Authorizes Stock Repurchase Program

SUNNYVALE, Calif., Sept. 18 /PRNewswire/ -- Interwoven, Inc. (Nasdaq: IWOV - news), the leading provider of Content Infrastructure, today announced that its
Board of Directors has approved the repurchase of up to $25 million of its common stock, effective immediately. Any share repurchased under this authorization may be
made, from time-to-time, in the open market, through block trades or otherwise. Depending on market conditions and other factors, these purchases may be commenced
or suspended at any time or from time-to-time without prior notice.

About Interwoven

Interwoven, Inc. is the world`s leading provider of Content Infrastructure software. Its Content Infrastructure product suite includes content aggregation, content
collaboration, content management, content intelligence and content distribution. Its products are the de facto standard for over 700 Global 2000 companies including
British Airways, Cisco Systems, General Electric, General Motors and Philips. Interwoven teams with the leading best-of-breed eBusiness application providers to
provide customers an end-to-end platform for eBusiness. For more information on one of the fastest growing software companies in Silicon Valley and its proven
XML-based solutions, visit the Interwoven Website at www.interwoven.com.

This press release contains ``forward-looking`` statements, including projections of potential stock repurchases. These statements are based on information available to us
at the time of this release; we assume no obligation to update any of them. The statements in this release are not guarantees of future performance. Actual results could
differ materially from our current expectations as a result of numerous factors, including unpredictable stock market fluctuations and fluctuations in our quarterly results.
These and other risks and uncertainties associated with our business are described in our most recent annual report on Form 10-K and subsequent Forms 10-Q and 8-K,
which are on file with the SEC and available through www.sec.gov.

[tockey]

Hallo,
kennst Du den Link schon ?

http://www.myresearch.de/board.php?company=99&btype=7&cmd=sh…

[Meier M]

Citrix Joins Interwoven`s PortalReady Program to Provide Enterprise
Content Infrastructure Services to Portal Customers

By Integrating TeamSite with XPS(TM) Portal Software, Citrix will Give Content Contributors
Enhanced Control of Portal Content Creation, Management and Collaboration Features

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Sept. 19, 2001-- Citrix Systems, Inc. (Nasdaq:CTXS - news), a global
leader in application serving and portal software and services, today announced its participation in Interwoven`s (Nasdaq:IWOV -
news) PortalReady partner program and plans to integrate Interwoven`s Content Infrastructure product suite with Citrix®
XPS(TM) portal software.

The product integration will give Citrix customers` non-technical users the ability to easily add content and update portals created
with Citrix XPS, enhancing productivity and collaboration across the enterprise. Customers will access key TeamSite software
features including workflow, content management categorization and multi-channel support through a Citrix Content Delivery
Agent (CDA) that works directly with users` XPS portals. Citrix will use Interwoven`s PortalReady SDK (Software Development
Kit) to develop the integrated solution.

``Our alliance with Interwoven is a significant building block in our Internet Solutions development strategy,`` said Barry Davis, vice
president, business development, for Citrix. ``By forging ahead and developing key relationships with industry leaders like
Interwoven, Citrix is giving customers even more opportunity to add greater functionality and value to their XPS deployments.``

Citrix XPS portal software gives users a single, personalized and secure point of access to the applications, information and
business processes they depend on to do their jobs and interact with peers within and beyond the enterprise, whether they are
customers, suppliers or partners. Interwoven`s Content Infrastructure offers a flexible, standards-based platform for creating,
managing and deploying Web content across the enterprise.

``Citrix understands that customers work with increasingly complex and unstructured Web content that needs to be delivered to a
host of computing devices and networks,`` said Frank Florence, senior vice president, business development at Interwoven. ``We
firmly believe that joint Citrix and Interwoven customers will realize the increased efficiency and value of the enterprise portal
solution.``

In addition to Citrix joining Interwoven`s PortalReady partner program, Interwoven has also joined the Citrix Business
Alliance(TM) (CBA) Internet Solutions Program.

About Interwoven

Interwoven, Inc. (Nasdaq:IWOV - news) is the world`s leading provider of Content Infrastructure software. Its Content Infrastructure product suite includes content
aggregation, content collaboration, content management, content intelligence and content distribution. Its products are the de facto standard for over 700 Global
2000 companies including British Airways, Cisco Systems, General Electric, General Motors and Philips. Interwoven teams with the leading best-of-breed
eBusiness application providers to provide customers an end-to-end platform for eBusiness. For more information on one of the fastest growing software companies
in Silicon Valley and its proven XML-based solutions, visit the Interwoven Web site at http://www.interwoven.com

About Citrix

Citrix Systems, Inc. is a global leader in application serving and portal software and services that provide personalized access to any application or information
source -- whether Windows®, UNIX® or Web-based -- through any device, over any connection. Companies worldwide use Citrix technologies to integrate
applications, content and business processes into a pervasive digital environment -- a virtual workplace -- offering seamless connectivity and a consistent user
experience across the Internet, intranets, extranets, WANs, LANs and wireless networks. Citrix solutions drive cost efficiency, productivity and enhanced
e-business opportunities by enabling companies to leverage existing IT resources and extend personalized information access to employees, partners, customers and
suppliers.

Citrix products offer rapid, cost-effective deployment and include MetaFrame® application serving software, NFuse(TM) application portal software, XPS(TM)
portal software, application management products, and Citrix Independent Computing Architecture (ICA®), a core application serving technology. The company
markets its application serving products through a well-established reseller channel and sells its portal software products directly to customers to provide the level of
customization they need. Citrix is traded on the Nasdaq Stock Market(SM) under the symbol CTXS, and is part of the Standard and Poor`s 500 Index. Citrix is
headquartered in Fort Lauderdale, Florida. For more information, please visit the Citrix Web site at http://www.citrix.com

[Meier M]

ist noch wer investiert?