A new Board of Directors has been appointed for Teamware Group, leading provider of interactive intranet, extranet and Internet solutions. The new Board members represent the ownership structure of the company effective since April 2002. Europe's leading venture capital company 3i holds 46 %, Fujitsu 43 % and current management 11 % of the company. In identifying high calibre Board member candidates, 3i's Independent Directors Programme proved its high value.

Mr Matti Packalén, Mr Paul G Fullagar, Mr Ken-ichi Hatta and Mr Rauno Toivonen form the new Teamware Group Board of Directors. Mr Packalén holds the position of Chairman of the Board.

Mr Matti Packalén, 55, acts as a member of Board of Directors in several companies. He is among others the former President and CEO of media companies Alma Media Corporation and Aamulehti Corporation as well as insurance company Kansa Corporation Ltd. Mr Packalen has also held Senior Executive positions in Valmet Corporation and Nokia Corporation.

Mr Paul G Fullagar, 51, is currently Non-executive Deputy Chairman of Staffware Plc, world leader in process automation software, having overseen its growth from a small private company through to its successful listing in 1996. In addition he was appointed an independent non-executive director of 3i-backed Marlborough Stirling Plc in 2000 and assisted in the company's flotation in 2001.

Mr Ken-ichi Hatta, 52, is Group Executive Vice President of Platform Business Development and Management in Fujitsu, responsible for the computer hardware, software and peripherals divisions. He joined the company in 1973 and has been working in Finance of Fujitsu's IT business area. Mr Hatta has been member of Teamware Group's Board since 1998.

Mr Rauno Toivonen, 37, has been President and CEO of Teamware Group since April 2000. Mr Toivonen has held a number of positions with the company. Prior to Teamware Group, Mr Toivonen was employed with the Bank of Finland.

'3i believes that a strong board significantly increases a business' chances of success. Recognizing the special needs of independent businesses 3i has launched its Independent Directors Programme, which is designed to bring companies together with the most appropriate persons', Mr Berndt Schalin, Investment Director of 3i Finland explains. 'The programme today consists of over 600 members in 14 countries who hold over 1000 appointments in 3i backed businesses. From this pool of successful business people, all with experience as Chairman, CEO or CFO, we found both Mr Packalén and Mr Fullagar. Where a business such as Teamware is growing, it is not just about finding someone useful. The chemistry has to be right as well', Schalin concludes.