SUNNYVALE, Calif. - November 28, 2001 - Interwoven, Inc. (Nasdaq: IWOV), the leading provider of Content Infrastructure, today announced VisualAnnotate, the industry's first integrated visual annotation tool, that gives business decision-makers the ability to easily annotate Web pages directly with virtual sticky notes, text tools and visual markup - in a familiar browser environment.

"As content continues to fuel a growing number of business initiatives, it is only natural that the number of content contributors grows. This expansion requires secure and scalable technologies to support collaboration across geographically dispersed workgroups," said Leonor Ciarlone, senior analyst at CAP Ventures. "With VisualAnnotate, Interwoven complements TeamSite's workflow capabilities with context-sensitive annotation that enables Web-based editorial and review processes. The result is a secure, familiar mechanism for content review and approval that can speed the delivery of business-critical content to portals, applications and Websites."

Visual annotation is a welcomed departure from traditional paper-based review processes. This new functionality allows business decision-makers to directly edit, review and approve Web pages within a browser. Key business benefits include:

- Operational efficiency: reduces cycle time for content review and approval

- Risk mitigation: empowers business approvers and provides secure audit trail

- Cost reduction: eliminates manual processes with paperless review and approval

"Interwoven's new annotation technology will be the next step in extending contribution to our business decision-makers," said Leon Stoner, Website content manager for Tesco. "VisualAnnotate is a major breakthrough in ease-of-use which will allow us to dramatically speed up our collaboration process and streamline communication without any training involved. Upon evaluation of this product, Tesco soon hopes to enjoy the many benefits of this new technology."

VisualAnnotate features include:

- Annotate Web pages directly in the browser with virtual sticky notes, text tools (including Word-like change tracking functionality) and visual markup with associated comments

- Single-click content review with rubber stamp feature for approval or rejection

- XML-based annotation tracking for all reviewers and approvers in any given cycle including historical archiving and retrieval of all comments and edits

"No other solution on the market today truly engages business decision-makers in the content review and approval process," said Kevin Cochrane, vice president of product management for Interwoven. "Interwoven takes Content Infrastructure to the next level with visual collaboration. With VisualAnnotate we've broken down all the barriers to efficient business manager content contribution, review and approval across the enterprise."

VisualAnnotate will be generally available in early 2002.

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.com.tw .