Interwoven Announces New Chairman of the Board of Directors and Appoints Interim President

SUNNYVALE, Calif. - March 6, 2006 - Interwoven, Inc. (Nasdaq: IWOV), provider of Enterprise Content Management (ECM) solutions for business, today announced long-time Interwoven Board member and Lead Independent Director, Frank Fanzilli, as the new Chairman of the Board. Interwoven also announced that Max Carnecchia, Interwoven's senior vice president of worldwide sales, is assuming the role of Interim President. Both positions are effective immediately.

Frank Fanzilli, Interwoven's new Chairman of the Board, joined the Interwoven Board in 2002, and last year became the Board's Lead Independent Director. Previously, he was with Credit Suisse First Boston (CSFB) for nearly two decades, holding numerous executive positions in technology, including chief information officer and managing director. Prior to CSFB, Fanzilli was in technical sales at IBM. He has also served on the Board of Directors of PeopleSoft, Inc., the Open Source Development Labs, and several privately held companies.

"I am very enthusiastic about taking on the role of Chairman of the Board at Interwoven. Having the opportunity to help lead this company with its energetic employees and executive team, loyal customers, and innovative solutions and products is very exciting," said Fanzilli. "Interwoven's ECM solutions continue to generate strong momentum within the market, and the Board and executive team together will continue to build a very compelling value proposition for our customers."

Today, Interwoven also announced the appointment of Max Carnecchia as Interwoven Interim President. Carnecchia, who has been in enterprise software sales for more than 21 years, joined Interwoven in 2001. As SVP of worldwide sales for Interwoven, Carnecchia oversees sales in the Americas, Asia Pacific and Europe, the Middle East, and Africa (EMEA), and has also served as the company's VP of alliances; VP of sales for the Americas; and SVP of sales for the Americas and EMEA. Prior to Interwoven, Carnecchia's breadth of experience has included overseeing sales, alliances, technical support, professional services, and training. He served as VP of global sales for Xoriant, an e-business implementation company, and VP of worldwide field operations for Smart DB Corporation, a provider of data integration toolkits. Previous sales and management experience include IBM, Intel, and Group 1 Software.

"After five years with Interwoven, I know our customers, solutions, technology and company culture extremely well, and I am excited by the opportunities that lie ahead," said Max Carnecchia. "Interwoven continues to thrive by focusing on our customers' most pressing business challenges. I am honored to have the opportunity to serve as Interim President at Interwoven."

"Both Frank and Max have the thought leadership and expertise to drive the development and continued worldwide adoption of Interwoven's award-winning ECM solutions," said Martin Brauns, CEO of Interwoven. "It has been an honor to serve as the company's leader for the past eight years, and with my retirement imminent, I know we have built a solid and seasoned management team and Board of Directors. We have a great leadership team in place to oversee the future of Interwoven."

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