(February 28, 2005 - London) – International law firm Reed Smith LLP today announced its role in advising Adamind Ltd, a provider of media adaptation software, on its IPO and admission to the Alternative Investment Market of the London Stock Exchange (AIM) as a result of an Israeli joint venture between Emblaze and Philips.

The admission to AIM will enable Adamind to build its established position as a leader in the media adaption technology market and to capitalise on the predicted growth of the market as a whole and in particular Israel, The Netherlands and California where the business is based.

The IPO has raised £15 million by means of a placing of 11,363,636 new ordinary shares at a price of 132p per share. On admission the company will have 35,363,636 ordinary shares in issue and a market capitalisation, of £46.7 million. The placing was underwritten by Bridgewell Securities.

Giles Beale, Partner and Head of Reed Smith’s UK Equity Markets practice commented:

“We were delighted to work with Adamind Ltd on such a successfully received IPO. We have noted a significant up turn in non-UK corporations coming to AIM to raise capital. This has been driven not only by the success of AIM itself as an international market but also the increasing cost of capital raising in the US for small and mid-cap issuers. We are currently mandated on 15 AIM IPO’s including several dual listings and all with an international flavour.”

The Reed Smith team was led by UK Partner, Giles Beale and included Associates, Vanessa Evanson-Goddard and Simon Armitage.

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Reed Smith LLP, a top-25 international law firm with 1,000 lawyers located in 14 U.S. and two U.K. cities, represents Fortune 100 as well as mid-market and emerging companies. Clients include financial services firms, life sciences companies, health care providers and insurers, technology companies and entrepreneurs, power generators and suppliers, manufacturers, universities, non-profit organizations, real estate developers, and municipalities throughout the United States and in 40 countries. For more information, visit www.reedsmith.com.