SUNNYVALE, Calif., - October 3, 2002 - Interwoven, Inc. (Nasdaq: IWOV), a world leader in Enterprise Content Management (ECM), today announced it expects total revenue in the fiscal quarter ended September 30, 2002 to be in the range of $29 million to $30 million. The company added 51 new license customers in the quarter bringing the license customer count to 1100. Pro forma net loss is expected to be in the range of $.07 to $.08 per share on a basic and diluted basis, for the quarter ended September 30, 2002.

On a GAAP basis, net loss is expected to be in the range of $.83 to $.90 per share on a basic and diluted basis. The GAAP amounts include the effects of amortization of intangibles, stock-based compensation, restructuring costs and a one-time charge associated with goodwill impairment related to past acquisitions. The Company estimates non-cash charges associated with the impairment of goodwill to be approximately $75 million to $80 million.

The Company believes that the pro forma results better reflect its operating performance as they exclude the effects of non-cash charges associated with acquisitions and non-recurring operating expenses.

The company will hold a brief conference call today at 2:00 pm PST to discuss these preliminary results and other related matters. In addition, the regular Q3 2002 conference call is scheduled for October 16th at 2:00 pm PST. The dial-in number is (913) 981-4911 (Reservation number 421748). The live audio Web cast can be accessed at http://www.interwoven.cn/investors.

The replay will be available from Thursday, October 3, 2002 at 4:00 pm PST through midnight PST, Tuesday, October 8, 2002 and the dial in number is (719) 457-0820 (Reservation number is 421748).

About Interwoven
Interwoven, Inc. (Nasdaq: IWOV) a world-leading provider of Enterprise Content Management software. The Interwoven 5 platform provides complete content lifecycle services, including Content Processing, Content Management, Content Intelligence, Content Production and Content Distribution. Its products are the de facto standard for more than 1000 global companies including British Airways, Cisco Systems, General Electric, General Motors and Singapore Airlines. Interwoven teams with the leading best-of-breed enterprise application providers to provide customers complete, collaborative business enterprise solutions. Interwoven won Transform Magazine's "2001 Product of the Year" award for Enterprise Content and Collaboration Technology. For more information on Interwoven and its proven XML-based ECM solutions, visit the Interwoven Website at www.interwoven.cn.

This press release contains "forward-looking" statements, including projections about our expected income and pro forma earnings per share. These statements are based on information available to us at the time of the 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: uncertainties and unexpected developments in completing our assessment of the quarterly results may change our actual results from what we currently expect; customer spending on web initiatives may continue to decline during the current economic downturn, which may be longer than anticipated. 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.