IBM Global Services will Resell and Implement Interwoven TeamSite as Part of its Global Content Management Practice

Sunnyvale, Calif. - December 11, 2000 - Interwoven, Inc. (Nasdaq: IWOV) today announced a comprehensive global alliance with IBM (NYSE: IBM) to deliver eBusiness content management solutions to companies around the world.

The agreement between Interwoven, the leading provider of enterprise-class content management solutions, and IBM Global Services, the world's largest professional services organization with more than 138,000 professionals serving customers in 160 countries, features four key components:

- IBM Global Services will build e-business solutions using Interwoven TeamSite as the foundation for managing the content that drives these applications.

- TeamSite will be featured in IBM e-business Innovation Centers, where customers can collaborate on all aspects of their e-business strategy and implementation. The centers are based in metropolitan areas throughout North America, Europe and Asia.

- IBM Global Services has entered into a worldwide agreement to resell Interwoven TeamSite software to its clients.

"Customers rely on Interwoven to move their business to the Web because of our software's ability to manage the corporate assets that constitute their e-business content-- on a global scale," said Martin Brauns, Interwoven CEO and President "IBM Global Services provides a strong complement by offering the e-business expertise, leading practices in content management implementations, and worldwide presence that these companies demand to support their e-business initiatives."

"Interwoven TeamSite addresses companies' demands to incorporate content as an integral part of their e-business initiatives by providing a flexible and scalable platform," said Scott J. Smith, Global Executive, IBM Knowledge & Content Management Services. "We are pleased to build on our current customer successes with Interwoven by rapidly growing our global network of TeamSite experts-- and offering the software to our customers worldwide."

The alliance builds on the two organizations' existing agreement in implementing enterprise content management solutions based on TeamSite for such customers as Blue Cross/Blue Shield, Hong Kong Shanghai Bank (HSBC), John Deere, Payless Shoe Source, and Harrahs.

"The pre-established integration between TeamSite and IBM WebSphere is currently simplifying IBM Global Services' configuration for Payless.com, which will save us the time and money associated with custom integration work," said Rhonda Wells, director of e-commerce for Payless Shoe Source. "We are very pleased to hear about the increased focus on implementation of Interwoven solutions by IBM Global Services, especially the commitment to training."

Interwoven, Inc. (Nasdaq: IWOV) is the leading provider of enterprise-class content management software. Its flagship product, TeamSite, controls the development, management and deployment of business-critical Web sites. Interwoven solutions are based on an inclusive content architecture that empowers all content contributors and leverages diverse Web assets including XML, Java, rich HTML, multimedia and database content. For more information on the company and its software solutions, visit the Interwoven Web site at www.interwoven.cn or e-mail info@interwoven.com.

IBM is the world's leading e-business company, offering a wide range of services and solutions that help businesses take full advantage of emerging innovation like smart technologies. IBM Global Services is the world's largest information technology services provider, with 1999 revenues of more than $32 billion. Services is the fastest growing part of IBM, with more than 138,000 professionals serving customers in 160 countries. IBM Global Services integrates IBM's broad range of capabilities --services, hardware, software and research -- to help companies of all sizes realize the full value of information technology. For more specific information about IBM Knowledge and Content Management Services offerings, visit www.ibm.com/knowledge .