SUNNYVALE, Calif., September 18, 2001 - Interwoven, Inc. (Nasdaq: IWOV), the leading provider of Content Infrastructure, today announced that its Board of Directors has approved the repurchase of up to $25 million of its common stock, effective immediately. Any share repurchased under this authorization may be made, from time-to-time, in the open market, through block trades or otherwise. Depending on market conditions and other factors, these purchases may be commenced or suspended at any time or from time-to-time without prior notice.

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 over 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 one of the fastest growing software companies in Silicon Valley and its proven XML-based solutions, visit the Interwoven Web site at www.interwoven.com.tw.

This press release contains "forward-looking" statements, including projections of potential stock repurchases.
These statements are based on information available to us at the time of this 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 unpredictable stock market
fluctuations and fluctuations in our quarterly results. 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.