SUNNYVALE, Calif. - December 6, 2001 - Last week, leading UK-based broadcaster Channel 4 Television won the prestigious award for the "Content Management Project" at the IM 2001 Awards for its pioneering work on Channel 4 Interactive. Interwoven, Inc., (Nasdaq: IWOV), the leading provider of Content Infrastructure, powers Channel 4 Interactive as well as E4 and FilmFour with its flagship product TeamSite. As one of Channel 4's leading enterprise software partners, Interwoven has been implemented across all of the national broadcaster's Web initiatives.

"It is a great honor for Channel 4 Television to have won this award. We have always seen the Internet as central to the future of entertainment," said Peter Pedersen, interactive chief technology officer at Channel 4 Television. "Interwoven's easy-to-use Content Infrastructure has enabled the rapid deployment of content and the ability to empower third party contributors - with minimal training - has been instrumental in making our sites a major success with our customers."

The Information Management Awards focus on end-user projects and reflect excellence and innovation in eBusiness. Specifically, the Content Management Project Award is given to the organization with the most innovative and successful content management project. This may involve "content" in its various forms, including Web content management and document management. Improved business performance, delivery of tangible business benefits, cost savings and collaboration between partners were key criteria for the panel of judges.

"Channel 4 has always been a pioneering broadcaster, successfully embracing the Web as an entertainment medium since the mid-1990s," said David Ogidi, managing director of Interwoven UK Ltd. "The award was well deserved and Interwoven is extremely thrilled to have worked with Channel 4 Television on its Interactive Web initiatives throughout 2001 to deliver a very compelling broadband experience for users."

In April 2001 Channel 4 Television implemented Interwoven's Content Infrastructure to manage content for a 7-11 year learning based site, Gridclub.com, and the two broadband companion Web entertainment sites, E4.com and FilmFour.com . They were designed as entertainment destinations including comedic animation, games and film footage, entertainment and other complex media content while combining Web and digital narrow-casting. TeamSite's scalability, the ability to provide a framework and process for large teams to develop content collaboratively, allows Channel 4 to add content on a daily basis. With large amounts of content continuously being added to the sites, Interwoven empowers Channel 4 to rapidly develop new and existing Web pages by enabling third party contributors to easily add information and dynamic content.

Interwoven also had a second nomination in this category with Tesco Online, the UK's first online retailer.

The panel of judges for the IM Award consisted of more than 45 key industry figures from a variety of fields, including academia, journalism, consultancy and other independent experts. Professor Clive Holtham of City University Business School, the overall chairman of the judging panel, was responsible for ensuring each nomination was marked fairly and all were evaluated with consistent criteria.

Channel 4 was established by UK Act of Parliament in 1982 and enjoys unique status as the world's only major public service broadcaster funded entirely by commercial activity. Placing a premium on "innovation and experiment in the form and content" of its programming, it has been Britain's most cutting edge, controversial and creative broadcaster of the last two decades. Channel 4 commissions all its programs from third parties and, almost single-handed, has helped nurture and grow a vibrant community of more than 1,400 independent producers in the UK. Recently Channel 4 branched out into pay-TV with the acclaimed launch of the FilmFour Channel and E4 as well as interactive television and the Internet.

Interwoven, Inc. (Nasdaq: IWOV) 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 more than 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 Interwoven and its proven XML-based Content Infrastructure solutions, visit the Interwoven Website at www.interwoven.cn .