SUNNYVALE, Calif., Oct 8, 1999 - Interwoven, Inc. (NASDAQ: IWOV) today announced the initial public offering of 3,150,000 shares of its common stock at $17.00 per share on the NASDAQ National Market under the trading symbol "IWOV." All of the shares were offered by Interwoven. Interwoven has granted the underwriters a 30-day option to purchase an additional 472,500 shares of common stock to cover over-allotments, if any. The managing underwriters of the offering are Credit Suisse First Boston, acting as lead manager, and Robertson Stephens and Dain Rauscher Wessels, a division of Dain Raucher Incorporated, acting as co-managers.

Interwoven is a leading provider of content management software for the enterprise Web. Its flagship product, TeamSite, controls the development, management and deployment of business-critical Web sites. As the platform for eBusiness, Interwoven enables electronic commerce, customer relationship management, supply chain management and knowledge management for Web leaders and Fortune 1000 companies moving to the Web.

A copy of the prospectus relating to the offering may be obtained from Credit Suisse First Boston, Prospectus Department, 11 Madison Avenue, New York, NY 10010-3629, 212-325-2000; Robertson Stephens, Prospectus Department, 555 California Street, Suite 2600, San Francisco, Calif. 94104, 415-781-9700; Dain Rauscher Wessels, a division of Dain Rauscher Incorporated, 60 South Sixth Street, Minneapolis, MN 55402, 612-313-1200; or by contacting Interwoven's Investor Request answering and fulfillment service directly