Delta Air Lines: Brian Damato, General Manager, Strategy and Measurement Abby Stephenson, Usability Manager

Interwoven Analyst Day W Hotel Union Square New York November 15, 2007

Interwoven Confidential Interwoven Executive Team

• Joe Cowan, CEO

• Max Carnecchia, President

• John Calonico, Chief Financial Officer

• Ben Kiker, SVP and Chief Marketing Officer

• Rafiq Mohammadi, Chief Strategy Officer

• Brian Andersen, VP, Corporate Development

• Mark Wachen, Managing Director and former CEO, Optimost

2 Today’s Interwoven Executive Presentations • Ben Kiker, Chief Marketing Officer Market Trends

• Joe Cowan, Chief Executive Officer Corporate Strategy

• Rafiq Mohammadi, Chief Strategy Officer Portfolio Strategy

• Mark Wachen, Managing Director & Former CEO, Optimost Optimost Corporate Overview

• Max Carnecchia, President Go-To-Market Strategy

3 Today’s Customer and Partner Presentations

Avenue A | Razorfish: Pete Stein, Senior Vice President & General Manager

Delta Air Lines: Brian DAmato, General Manager, Strategy and Measurement Abby Stephenson, Usability Manager

Holland & Knight LLP: Ralph Barber, Chief Technology Officer

4 Forward-Looking Statements

This presentation contains "forward-looking" statements, including statements about historical results that may suggest trends in our business, that are time sensitive and accurate as of the date of November 15, 2007 only. These statements are based on estimates and information available to us at the time of this presentation and are not guarantees of future performance. All statements other than statements of historical fact are statements that could be deemed as forward-looking statements. For example, statements about the implementation of our business strategy, about customer and market opportunities, financial forecasts and product roadmaps are forward-looking and subject to change, and any software purchase decisions should be based upon the features and functionality currently available without relying upon roadmap deliverables. Actual results could differ materially from our current expectations as a result of many factors, including: the discovery of additional information relevant to the company’s review of historical option grant practices and expected restatement, any additional conclusions of the company's Audit Committee (and the timing of such conclusions) concerning matters relating to such review and the impact of the review (including any possible accounting impact), the timing of review and conclusions of our independent registered public accounting firm regarding our historical stock option grants and related accounting, accounting adjustments to the our consolidated financial statements for certain periods, an unanticipated delay in the preparation and filing of our required reports with the Securities and Exchange Commission or an inability to meet the requirements of the NASDAQ Global Market for continued listing of our shares, any employee litigation and action by the Securities and Exchange Commission relating to such review and our expected restatement; our ability to develop new products, services, features and functionality successfully and on a timely basis; customer acceptance of our solutions, new product releases and services may be slower than we anticipate; changes in customer spending on enterprise content management initiatives; our ability to cross-sell and up-sell additional products into our installed base of customers; changes in key personnel; the success of our strategic business alliances; our ability to successfully acquire businesses and technologies and to successfully integrate and operate these acquired businesses and technologies; development of certain products and services may not proceed as planned; the introduction of new products or services by competitors; and the ongoing consolidation in our market place.

5 Market Trends

Ben Kiker SVP & Chief Marketing Officer

Interwoven Confidential Explosion of business venues and information

“Retail, online and phone shopping channels are expanding, increasingly prompting customers to demand a seamless – and painless – experience.” Customer Service Champs, Business Week

7 WhatWhat areare WeWe FacingFacing NowNow?? DramaticallyDramatically differentdifferent expectationsexpectations

“This is the most high-maintenance workforce in the history of the world. The good news is they’re also going to be the most high-performing.”

Rainmaker / Thinking

8 WhatWhat areare WeWe FacingFacing NowNow?? AA veryvery differentdifferent competitivecompetitive landscapelandscape

“Over a five year period, businesses that successfully tailor product and service offerings to desirable customer segments post annual growth profit of about 15%.” Bain & Company

9 Caught in the Middle Collapsing old model, new model under construction

“The accelerating pace of change is creating a wide range of potential new priorities.”

McKinsey Quarterly

10 Common Themes We’re Hearing

Growth Brand and Speed Reputation

Acquiring high value Experience-based Accelerate time to customers differentiation market Grow revenues from Engaging customer Process efficiency and existing customers experiences agility Global expansion Consistency across all Leverage existing channels assets

11 An Exciting Year of Transformation

• Market trends creating new demand

• Customers continuing to put “Interwoven at the Core” by expanding footprint

• Strong foundation for growth

• Executing on the opportunity

12 Interwoven Corporate Strategy Joe Cowan CEO

Interwoven Confidential Our Foundation

14 Growing from a Foundation of Strength

Strong Financials Strong Market Presence TTM Revenues: $217M Customers – over 4,000 YTD 13% License revenue growth Partners – over 300 $198M in cash (end of Q3’07) Developer Network – over 20,000

Strong Team 850 employees in 16 countries

15 Over 4,000 Customers – a strategic asset

16 Organized for both Short and Long-Term Success

• Max: execute today • Annual and quarterly planning and execution • Customer facing teams

• Joe: plan for long-term success • 2-5 year planning • Strategic planning / corporate development • Engineering

17 Continued Strong Execution

License Revenues Total Revenues

18 Summary

• Strong financial performance with revenue growth and cash generation

• Very healthy balance sheet

• Strong financial foundation to build on

19 Our Business

20 Our Business

Three healthy, growing businesses 1. Web Content Management • Market-leader: most robust, scalable, flexible offering on market • Extending with Optimost acquisition 2. Professional Services Industry Solutions • Market-leader: legacy competitor has vacated the market • Extending with Interwoven Universal Search 3. Global Capital Markets • Market-leader: “Vendor of the Year” from Operations Management • Extending with Interwoven Peer-to-Peer and DealConnect for DTCC

21 Where we are going…

22 gov www.bankofamerica.com www.tyco.com www.staples.com www.adidas.comWebWeb ContentContent www.bluecross ManagementManagementma.com www.bbandt.com www.co www.hsbc.com www.visa.com www.experian.com www.tesc on.com www.transunion.com www.bt.com www.maquet.com www.ericsson.comMaximizeMaximize OnlineOnline www.toyota.com BusinessBusiness www.gmac.com PerformancePerformance www.ban www.mercerhr.com www.putnam.com www.aon.com www.departm www.sovereignbank.com www.novonordisk.com www.avaya.com air.com www.qantas.com www.singaporeairlines.com www nd.gov www.britishairways.comCreate and deploy contentwww.hilton.com-rich websites www.harrahs.com www.royalcaribbean.comAccelerate www.citi timegroup.com to web www.suntrust.com www. s.org www.russell.com www.principal.com www.konicaminolta.comDeliver dynamic www.anal customerogdevices.com experiences www.polycom.com www.channel4.co.ukMaximize oma.org marketing www.sun.com investments www.intel.com www.ibm.com www.nyc.gov com www.heidelberg.com www.nike.com www.allstate.com ww www.northwesternmutual.com www.aa.com www.chrysler.com w www.kaiserpermanente.org www.att.com www.fedex.com23 WCM Opportunity

Interwoven Core Competencies Interwoven Core Assets Deep understanding of the • Customer Base (1000+)/Global 2000 content management Customers process as it applies to • Technology (Deep IP developed over Websites a decade) • Brand (Perceived as the Inventor of Content lifecycle WCM) Staging and deployment • Market Leadership (Provisioning) • Sales Knowledge and Leadership Meeting the complex needs of Global 2000 Customers • Global Reach Unique approach to managing • Knowledge through Service Websites organization Deep understanding of managing • Size and Financial Strength Rich media

24 24 Web Content Management Vision

Online Marketing Suite Why? Opportunity

• Based on heritage of Business problems • Strategic Plan: strong web content Deliver open, integrated management platform • Multiple niche vendors • supplying marketing marketing platform technologies • Closed loop analytics • Extend platform to power the entire online • No integrated solution • Usability tailored for marketing cycle • Lack of easy-to-use tools marketing professionals Business Issues • Integrated Web 2.0 • Content creation, delivery, optimization, • Web 2.0: Explosion of • Platform for SEO targeting & analysis user-generated content • Both company and user generated content • Engage customers through • Market Consolidation dynamic sites • Market data: IM Spend- • Easy to use for • Maintain brand 36% CAGR through 2012* business/marketing consistency • Time-to-market demands • Compelling, relevant customer experience • Increase conversion rates customer loyalty

25 * PriceWaterhouseCoopersProfessionalProfessional ServicesServices KPMG IndustryIndustry Deloitte PKF SolutionsSolutions Grant Thornton

BDO Eisner LLP Berdon LLP KPMG Crove RSM McGladrey WHK GroupMaximizeMaximize Limited ProfitabilityProfitabilityVitale Caturano & Company && MitigateMitigate PC WIPFLi RiskRisk Vitale, Caturano & Company Plante Moran Alston & Bird LLP Katten White

& Case Faegre & Benson Morgan Levis Jones Day DLA Piper Enhance entire client engagement lifecycle Latham & Watkins LLP Seyfarth Shaw LLP Wragge & Co Slaughter Boost efficiency and mobile productivity & May Herbert Smith Brodies Ashurst Pinsent Masons SJBerwin Attract and retain strong talent Beachcroft Addleshaw Goddar Freshfields Bruckhaus Deringer Uria Manage all client-related info (incl. emails) Menendez Garrigues Salans Clayton Utz Deacons Freehills Share information securely Blake Dawson Waldron Minter Ellison

26 Professional Services Strengths

Interwoven Core Competencies Interwoven Core Assets

• Building, deploying and • Industry & customer intimacy sustaining mission critical • Ecosystem for complete solutions solution • Creating repeatable vertical • Strong brand solutions • Mature next generation • User experience for the platform business professional • Strong distribution channel • Understanding e-Mail • Size and financial strength

27 27 Professional Services Strategic Vision

Business Content Why? Evaluating Opportunity Management 2.0 • Innovate key • Risk and litigation • Line Extensions capabilities: around content • Extend Electronic File - continues to grow Imaging • Next-gen E-Mail management • Extend Compliance – Conflicts… • Search • Globalization increases • Records need and complexity of • User experience information management • Adjacent Business • Next generation platform Platforms • eDiscovery / Litigation • Globalization • Explosion in content and Support • Scale email • Disaster Recovery • Digital media types • BPM • Flexibility • SaaS

• Adjacent Markets • Govt. – State & Local • Corporate Legal Dept • Corporate Finance

28 How we will get there -- Summary

Balanced organic and inorganic growth

• Organic • Continue to invest in current platform offerings (TeamSite, WorkSite) • Extend current capabilities (e.g. Interwoven Targeting, Composite Application Provisioning) • Inorganic • Leverage existing businesses: products, customers, sales channel • Add complementary, adjacent offerings • Financially accretive

29 Thank You

• This confidential publication is the property of Interwoven, Inc. No part of this presentation may be reproduced, translated into another language or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written consent of Interwoven, Inc. • Some or all of the information contained herein may be protected by patent numbers: US # 6,505,212, EP / ATRA / BELG / DENM / FINL / FRAN / GBRI / GREC / IREL / ITAL / LUXE / NETH / PORT / SPAI / SWED / SWIT # 1053523, US # 6,480,944, US# 5,845,270, US #5,384,867, US #5,430,812, US #5,754,704, US #5,347,600, AUS #735365, GB #GB2333619, US #5,845,067, US #6,675,299, US #5,835,037, AUS #632333, BEL #480941, BRAZ #PI9007504-8, CAN #2,062,965, DENM / EPC / FRAN / GRBI / ITAL / LUXE / NETH / SPAI / SWED / SWIT #480941, GERM #69020564.3, JAPA #2968582, NORW #301860, US #5,065,447, US #6,609,184, US #6,141,017, US #5,990,950, US #5,821,999, US #5,805,217, US #5,838,832, US #5,867,221, US #5,923,376, US #6,434,273, US #5,867,603, US #4,941,193, US #5,822,721, US #5,845,270, US #5,923,785, US #5,982,938, US #5,790,131, US #5,721,543, US #5,982,441, US #5,857,036, GERM #69902752.7or other patents pending application for Interwoven, Inc. Misappropriation of the information contained in this publication may be a violation of applicable laws. • © Copyright 2006 Interwoven, Inc. All rights reserved. ANY RESOLUTION, ANYWHERE, CONFIRMSITE, CONTROLHUB, DESKSITE, FILESITE, IMANAGE, IMANAGE & DESIGN, INTERWOVEN, INTERWOVEN & DESIGN, INTRAGO, LIVESITE, MEDIABIN, METACODE, METAFINDER, METASOURCE, METATAGGER, OFFSITE, OPENDEPLOY, PRIMERA, SMARTCONTEXT, SMARTPUBLISHER, STING, STING TECHNOLOGY & DESIGN, TEAMCATALOG, TEAMSITE, TEAMTURBO, TEAMXML, TEAMXPRESS, WORKDOCS, WORKPORTAL, WORKROUTE, WORKSITE, WORKTEAM, the respective taglines, logos and service marks are trademarks of Interwoven, Inc., which may be registered in certain jurisdictions. • All other trademarks are owned by their respective owners.

31 Product Strategy Rafiq R Mohammadi CTO

32 Interwoven

We help organizations… • Deliver segmented and targeted online presence for consumers • Manage business documents and associated processes • Create and reuse brand and marketing assets • Reduce operational risks by enforcing systematic retention and disposition

Our strategy is based on solutions developed from deep domain knowledge

33 Interwoven’s Market Strategy

Focus on three solutions:

1. Manage derivatives trade confirms in Global Capital Markets (GCM)

2. Provide engagement-centric content management for Professional Services (PSIS) • Law firms • Accounting firms • Federal • Corporate legal departments

3. Deliver highly optimized and interactive online presence via Web Content Management (WCM)

34 GCM Market Drivers

35 Macro Trends in the Markets

Increasing complexity along three principal dimensions:

Participants ÅÆ Products ÅÆ Processes

PARTICIPANTS: The financial markets are seeing increasing volumes of activity from different types of institutional participants such as hedge funds, corporate treasury desks, foreign banks, proprietary account traders etc. Also, the average participant is getting increasingly involved with the more complex products.

PRODUCTS: The menu of products, both cash and derivatives, is getting more complex. Many of these products are affected by multiple currency and interest-rate regimes, thereby further increasing their complexity.

PROCESSES: Middle- and back-office operations are more complex due to the involvement of the buy-side and intermediaries such as prime brokers and administrators.

36 Transaction Volume Growth in Derivatives

37 GCM Product Strategy

38 Productivity for the middle and the back office

Front Office Middle Office Back Office

• Settlements

• Affirmation Scritturato Confirmation Solutions• Portfolio P&L • OM & Sales • Trade Matching and Reconciliation • G/L operations • Pricing & Offering • Assignments / Novations • Ops Financials Analytics • Trade Amendments • Trading • Portfolio Allocations • Credit & Collateral

39 PSIS Market Drivers

40 Regulations are driving increasing IT requirements and cost

Canadian SECSEC 17a-17a- Canadian BSIBSI GDPdUGDPdU & & GoBSGoBS 44 (USA)(USA) ElectronicElectronic PD5000 (Germany)(Germany) EvidenceEvidence ActAct PD5000 (UK)(UK) 11MEDIS-11MEDIS- HIPAAHIPAA DC (USA)(USA) DC NFNF ZZ 42-01342-013 (Japan)(Japan) (France)(France) BaselBasel IIII CapitalCapital ElectronicElectronic AccordAccord LedgerLedger StorageStorage ABAABA ModelModel RuleRule LawLaw 1.13/1.13/ 1.61.6 (Japan)(Japan) FinancialFinancial ServicesServices Public Record Sarbanes-Oxley FDA 21 CRF Public Record CNIPA AuthorityAuthority Sarbanes-Oxley FDA 21 CRF OfficeOffice (UK)(UK) CNIPA SectionSection 802802 PartPart 1111 (Italy)(Italy) (UK)(UK)

• 10,000 regulations worldwide • They may not all apply to firms but they will apply to the firms’ clients and their information • Impact: Cost to comply or remediate, penalties for noncompliance

Source: Gartner 41 Market Driver – Unparalleled information explosion

• A lawyer deals with 200 to 500 emails a 40% of firms claim to have users with email boxes day (LegalTech Survey, Jan 2006) larger than 5GB • Access-point proliferation ILTA 2006 E-Mail Survey

• Electronic storage requirements growing exponentially

• Compliance requires efficient management of email

42 Battle For Talent

Simplicity and Flexibility

Expectations

Flexibility “Make it like Google”

Source: Robert Half Legal 43 PSIS Product Strategy

44 Life cycle management of Matters/Engagements

45 Link practice groups globally

1. Simplicity

Asbestos litigation Manhattan

Atlanta 2. Geographic Transparency

London New York 3. Scale

Estimated Volume for Emails and Documents in Worksite 14,000,000

WebDB 12,000,000 Training Tax1 Prop1 10,000,000 Precedent Paris Pers1 8,000,000 PCP1 s Lit1 Knowledge

6,000,000 ITS1

Emails & Doc Fin1 EU1

4,000,000 Corp3 Corp2 Corp1

2,000,000 Comm1 BankPrec Admin1 Dec-05 Jan-06 Feb-06 Mar-06 Apr-06 May-06 Jun-06 Jul-06 Aug-06 Sep-06 Oct-06 Nov-06 Dec-06 0 46 Intuitive User Interface across all touch points

Office

Outlook

Blackberry

SharePoint 2007 47 Managed disposition of both electronic and physical records

Electronic DM Workspace Preservation Library

File Shares / .PST Files Hard Drives Tag & Review: Identify unprivileged, 3rd-Party relevant content. Litigation Support

E-mail Archives / Journals

48 WCM Market Drivers

49 Consumer perception – Generally lousy websites The vast majority of Web sites fail to meet customer expectations

Why? • Inconsistent information • Poor quality • Marketers not empowered

Source: Forrester’s The State of the Web in 2006: Usability Luminaries Weigh In, August 2006 50 The new web sites inform and learn

Navigation

Targeting Communities

Multi-variable testing

51 The inmates are running the asylum - User generated content

Blogs Social Networks

Consumer Reviews

Wikis 52 The Online Channel Today

Online •Consumers spend 30%+ media attention online. Growth •33% of consumers to purchase goods online by 2010. Source: Mckinsey 2007 survey

•Interactive marketing spending will grow from $18B in Shift in 2007 to $61B in 2012 (8% to 18% of ad budget). Online Mktg Source: Forrester 2007 Survey Spending •Spending on paid search, video ads, email, banner ads $$ are likeliest to increase over next 3 years. Source: Mckinsey 2007 survey

Solutions that drive higher conversion rates are key to success.

53 WCM Product Strategy

54 Powering the Entire Online Marketing Cycle

The Business Experience The Customer Experience

Deploy

Optimize

Create

Target

Analyze 55 Turn intuition into insight

Rapidly test a hypothesis

Intuition Customer interaction

Web site with integrated hypothesis testing Content development and targeting Hypothesis formulation

Insight Data

Analyze 56 True enterprise architecture enables the most demanding web sites

Personalized Dynamic Site

LiveSite Optional Services

HTML Pre-process Hypothesis testing

Page Transform Analytics

Component and Controllers Targeted Content

Deployment Services Data Production Database Layer From Production File System Open Deploy Development • Content •Users Receiver •Sites • Components • Pages • Templates •XML • Documents • Rules • Images, css, js Data Deploy

57 Summary

58 Summary

• Market leader in all of our three chosen areas

1.Manage derivatives trade confirms in Global Capital Markets (GCM)

2.Provide engagement-centric content management for Professional Services (PSIS)

3. Deliver highly optimized and interactive online presence via Web Content Management (WCM) • Our sustainable advantage is fundamentally based on deep domain knowledge

• Very focused product strategy that leverages our existing leadership and customer base

59 Thank You

60 Optimost Overview Mark Wachen Managing Director & former CEO, Optimost

Interwoven Confidential A Brief History of Optimost

• Optimost founded in 2001 • Vision: create a solution to allow marketers to fully leverage the internet as the ultimate direct marketing and optimization platform

• 2001-2003 • Intensive software development • Created patent-pending authoring language • Develop online multivariable testing methodology • Worked with experts from Harvard Business School, Columbia Business School, Yale School of Management

• Late 2003 • First customers

• 2004 • Optimost becomes profitable

62 Optimost Today

• Thousands of optimization projects conducted for over 170 customers • Over 80 subscription customers

• Unrivaled Best Practices

• Managed Solution • Technology: content management, analytics

• Professional Services: dedicated client services team to support test design, production, and analysis

• 60 Employees

63 What is Multivariable Optimization?

• Powerful way to continuously improve online conversion rates • Online revenue / registrations / leads • Create and test limitless versions of content “variables” (e.g. copy, layouts, offers) to determine what combination maximizes response • Far more robust and efficient than A/B testing or “offer testing” • Transparent – “glass box” approach • Optimize webpages for individual target audiences • Allows actual customer behavior to drive marketing decisions

64 The Traditional Process: A/B Testing

65 The Traditional Process: A/B Testing

66 A Better Solution: Multivariable Testing

Main headline Images Used

Form Headline Copy Layout; including Right/Left Form Layout

Copy and Order Of Sell Points

Submit Buttons

Include Phone Endorsements Number?

67 A Better Solution: Multivariable Testing Copy and Order of Sell Points: 1) What makes eDiets different? - 24/7 Support - Convenience and Privacy - No meeting to attend - No expensive foods to buy

2) What makes eDiets different? - Customized meal plans and shopping lists - 24/7 Support - Convenience and Privacy - No meeting to attend - No expensive foods to buy

Main Headline: 3) Top 5 reasons to join eDiets - Customized meal plans and shopping 1) Lose 10 Pounds by April 20 lists - 24/7 Support 2) Want to Lose 10 Pounds? - Convenience and Privacy 3) Get the Perfect Diet for YOU - Personalized fitness plans and workouts 4) Get Your Free Diet Profile - Expert health and fitness advice

68 69 70 71 72 73 Best Solution out of Millions of Permutations

74 Understand Why

+4%

+9%

+5%

+3%

+1%

75 Why I’m Excited… Why I’m Excited…

• First-Ever “Full Cycle” Solution • Creative Development • Deploy • Optimize

• Strong relationship management skills to engender support in both IT and marketing departments

• Sales and marketing resources greatly enhanced

76 Thank You

78 Capitalizing on the Opportunity

Max Carnecchia President

Interwoven Confidential Capitalizing on the Opportunity

• Build on our strong foundation • Expand our reach • Execute!

80 Spotlight on Recent Customer Successes

• Leading credit card issuer and • Owners of Discovery Channel, e-payment services CO with The Learning Channel, and one of the most recognized Animal Planet brands in the US • Reaches 86M households in 70 • Serves 50M subscribers countries • Enterprise standard for WCM; empower the business to drive • Expanding Interwoven Web content deployment to transform Web • IWOV TeamSite, Targeting, presence and deliver more MediaBin, OpenDeploy, and interactive, targeted experience MetaTagger • Partnering with online marketing • Partnering with IBM agency Roundarch

81 Spotlight on Recent Customer Successes

• One of France’s leading law • Chicago-based consulting firm firms with global offices & multiple • WorkSite as enterprise-wide practices standard for DM – 1,300 users • RecordsManager & WorkSite for in 18 countries collaborative document, e-mail • Deploy solution throughout and records management for Salans global operations over 1,200 employees • Demonstrates increasing • Deploy as an enterprise-wide demand for global deployments solution in legal • Demonstrates increasing opportunity with consulting firms

82 Named “A Leader” in Forrester WCM Wave

• Forrester Wave – WCM for External Sites, Q307

• Interwoven named “a leader”

• Interwoven has the largest market presence of the 3 vendors in the “leaders” category

• Interwoven received the highest score on product strategy

• Interwoven received the highest score on product architecture

Source: Forrester Research, Inc.

83 Interwoven: The Standard for Professional Services Document Management

• ILTA 2007 Recognized Leader • #1 in document management • #1 in email and electronic records management • #1 one for client extranets

International Law Technology Association 2007 Survey

84 AmLaw 2007 Survey Results: Ranked #1 for Legal Document Management for 3rd year

ven rwo Inte

iManage/Interwoven Hummingbird/PC Docs Custom in-house Others

Source: 12th Annual Law Firm Inc.: Am Law 200 Technology Survey 2007 85 Capitalizing on the Opportunity

• Build on our strong foundation • Expand our reach • Execute!

86 Accelerate Global Growth Machine • EMEA • Named James Murray, vice president • Increasing deal size, significant momentum in online marketing, globalizing PSIS wins • Marquee customers include adidas, BT, Tesco, and Virgin Mobile • APAC • Named Sanjay Aurora, vice president • 2nd wave Web now hitting Record-breaking APAC • Customers placing Interwoven GearUp in London at the core: Cathay Life, Fidelity Over 470 customers, 22 partners, Securities, ICICI Bank, Qantas and attendees from 18 countries

87 Partners – A Critical Extension of the Team

• Strategy – leverage partners to scale and go deeper in key verticals • Online marketing partners • Continue to build interactive agency relationships • 5 of top 10* interactive agencies are Interwoven partners today (1. AARF, 2. Sapient, 3. Digitas, 6. Ogilvy and 7. Organic) • Professional Services Partners • Developing new relationships with technology partners that address specific market requirements: Imaging, eDiscovery, Email Archiving, CRM, Time & Billing, etc… • Over 150 channel partners world-wide supporting legal, accounting and adjacent professional services markets

* Advertising Age, 2007 88 Select Interwoven Partners

89 Capitalizing on the Opportunity

• Build on our strong foundation • Expand our reach • Execute!

90 Powering the Entire Online Marketing Cycle

The Business Experience The Customer Experience

91 Our Goal – the Top of the Marketing Shortlist

• Position the entire online marketing cycle • Cross-sell to incredible installed base • Leverage line of business and IT relationships • Generate excitement and continue transformation • Establish Interwoven as an essential player • Evangelize our story, go to online marketing watering holes • Leverage marketing partner ecosystem • Capitalize on Optimost…!

92 Our Goal – Maximize the Optimost Opportunity

• Tremendous validation • Customers, field, partners (and media and analysts) • Jupiter Research: “73 percent of budget decision makers using testing today plan to increase testing budgets for next year”* • Leverage talent and best-in-class technology • Apply the full force of the Interwoven sales and marketing machine – cross sell to installed base, use as entry point for new customers • Create field overlay with rules of engagement • Leverage talent from Optimost – the entire team has joined Interwoven • Exploit Optimost’s unique differentiators and robust technology • Position as key component of online marketing cycle

*Source: Jupiter Research, Multivariate Testing Agenda, October 22, 2007

93 Our Goal – Exploit Leadership in Legal and Deepen Footprint in Adjacent Markets

• 2008 – the Year of Universal Search • Leverage search to further consolidate market leadership • Build on strong start out of the gate • Continue expansion to adjacent markets • Accounting, consulting, property management • Key accounting wins in 2007 include Grant Thornton, Plante & Moran, and RSM McGladrey

94 Capitalizing on the Opportunities

• We have the foundation

• We have the team

• We are focused on executing

• We are well positioned for 2008

95 Executive Q&A Session

96 Digital Darwinism

November 2007

Pete Stein, SVP and GM Avenue A | Razorfish At A Glance

The leading full-service digital marketing agency (Ad Age)

The largest independent buyer of web media ($542MM) and paid search ($150MM)

Over 1,900 professionals across the seven largest online media markets

Advanced data solution infrastructure

Culture of innovation and optimization

Strategic Technology Advisor

98 Avenue A | Razorfish Market Position

We combine marketing and creativity with technology, and we focus on the online channel and we create more value within that channel than anyone else.

TRADITIONAL TECHNOLOGY AGENCIES CONSULTANTS

99 Interwoven & Avenue A | Razorfish—A History of Success

AA|RF has over 100 experienced colleagues with over 70 implementations (more than almost any other partner) under its belt

AA|RF is experienced in the full Interwoven product suite including: TeamSite, LiveSite, OpenDeploy, MetaTagger, MediaBin, and WorkSite.

AA|RF won Interwoven’s “Outstanding Partner Achievement” award in 2006

AA|RF is one of the few partners involved in Interwoven’s product development programs and actively engaged in providing input to product strategy

AA|RF and Interwoven share an aggressive Go-To-Market plan that includes awareness, demand generation and deal teaming

100 SIX LAWS OF DIGITAL DARWINISM

101 1. CONSUMERS ARE IN CONTROL

102 2. THEY TALK TO EACH OTHER

103 3. BROADBAND EMPOWERS THEM

104 4. BRAND LOYALTY IS DECLINING

105 5. ALL BRANDS ARE DIGITAL BRANDS

106 6. YOU HAVE 50 MILLISECONDS TO RESPOND

107 108 WHAT DO THEY DO RIGHT?

109 DIGITAL BRAND DNA

110 FRESH

ADAPTIVE

SOCIAL

TRANSFORMATIVE

IMMERSIVE

RELEVANT

AUTHENTIC

111 FRESH Does it inspire feeling or emotion?

112 ADAPTIVE Does it respond to your involvement?

113 SOCIAL Is it worth borrowing, sharing or contributing to?

114 TRANSFORMATIVE Does it raise your expectations of the brand, or the web? IMMERSIVE Do you lose track of time?

116 RELEVANT Is it useful or appealing to you specifically?

117 AUTHENTIC Does it seem genuine? Digital Top 10 Brands

119 Interbrand Top 10 Brands

120 Interbrand Top 10 vs. Digital Top 10

121 What is a marketer to do (and how does Interwoven help)?

122 1. Listen, Learn, Evolve

Listen, learn Build Alpha apply Listen, learn

Beta apply

Listen, learn

V1 apply

Listen, learn

V1.1 apply

123 2. Deliver a Consistent Experience

YOUR BRAND

124 3. Deliver a Compelling and Relevant Experience

Message Distribution by Message Segment (Example) Weighting 70% W Hotels

W Hotels Yes Westin Spa 15% • Segmented media is Looker pervasive Four Points Wi-Fi 15% No Four Points Summer Rates 70% Four Points Yes Sheraton Summer Rates 15% Looker • Segmentation on sites is not W Hotels 15% No Westin Spa 35% Yes Westin Westin Relax and Play • Site and media MUST Looker 35% integrate W Hotels 15% No Sheraton Summer Rates 65% Yes Sheraton Four Points Summer Rates 20% Looker • All segmentations are custom W Hotels 15%

125 4. Deliver ROI

126 5. Participate in a World of Customer Control

127 Thank You. HOW DELTA INVADED OPTIMOST Brian DAmato, General Manager, Strategy & Measurement Delta Air Lines OVERVIEW

How did it start? Why did it happen? What did we do first? What did that lead to? What is next?

130 DELTA AIR LINES, INC. HOW DID IT START?

131 DELTA AIR LINES, INC. WHY DID IT HAPPEN?

Great interactions Data uselessness Desire for measurability Easy execution

132 DELTA AIR LINES, INC. WHAT DID WE DO FIRST?

The Passenger Info Screen – why?

What did we try?

What happened?

133 DELTA AIR LINES, INC. WHAT DID WE DO FIRST?

This was important because… Intuition held sometimes… … but sometimes things just blew our mind Data was compelling and easy to understand Leaders loved the “simplicity” And it showed improvement

134 DELTA AIR LINES, INC. WHAT DID THAT LEAD TO?

Beginning of a transformation (which we’re still in) Leaders becoming testing champions More tests including A/B and MVT Optimost becoming a verb

135 DELTA AIR LINES, INC. WHAT DID THAT LEAD TO?

Increase in facilitated revenue of between $10-$15 million on delta.com

136 DELTA AIR LINES, INC. WHAT IS NEXT?

More funnel testing Integration in to development process MVT and personalization

137 DELTA AIR LINES, INC. QUESTIONS?

138 DELTA AIR LINES, INC. Ralph Barber Chief Technology Officer

Interwoven Confidential Agenda

• About Holland & Knight • History with Interwoven • Changing Dynamics in the Legal Industry • How are Our Information Management Needs are Evolving • Technology Investment Outlook 2008/2009

Interwoven Confidential 140 About Holland + Knight

• Full service international law firm • 1200 attorneys/2600 total personnel • A top 20 law firm • 20 locations throughout the U.S. • 6 international offices

Interwoven Confidential 141 History With Interwoven/Document Management • Foundation for managing business content • Mission critical • Basis for managing work-in-process, extranets, knowledge • Migrated from Hummingbird • 2600 users, 20 locations over a two weekend period • First large firm to go with centralized architecture

• Business drivers for implementing Interwoven • One firm initiative • Ability to support rapid growth • Centralized approach • Higher service levels – application availability • Standardization Interwoven Confidential 142 Interwoven Cluster Services Compaq EVA-3000 Microsoft Cluster Services: Active – Active Microsoft SQL2K Log Ship Microsoft Cluster Services: Active – Passive Microsoft Network Load Balancing Existing Servers

Interwoven Confidential 143 Interwoven Confidential 144 Changing Dynamics In the Legal Industry –Business Issues

• Battle for talent • Compliance/legal holds • Growth /Consolidation • Client retention • Managing information – Leveraging work product

Interwoven Confidential 145 Tools that Enable Flexible Working are Critical to Employee Satisfaction and Retention

Source: Robert Half Legal Interwoven Confidential 146 Changing Dynamics In the Legal Industry –Technology • Influence of Web 2.0 on the Enterprise 2.0 • Search primary access mechanism to enterprise data • User focus vs technology focus • Predictive computing • Social Networking • Total cost of ownership a key IT focus • Application and data consolidation • Virtualization • Diversity of access points increasing • Web, RSS, Portals, Mobile Devices • Diversity in network connectivity • Range from no connection, weakly connected to highly connected • Diversity in data types that need to be managed • IM, Voice, Graphics

147 Interwoven Confidential 147 Technology Investment Outlook 2008/2009

• Records management • Enterprise search • E-mail management • Virtual servers • Disaster recovery • Major Microsoft upgrades

Interwoven Confidential 148 Conclusion • Interwoven: Critical foundation for Holland & Knight • Information management needs evolving rapidly • Aligning IT goals and the business • Enterprise search • E-mail – Records management • Knowledge management • Litigation support/Case management – eDiscovery

Interwoven Confidential 149 Thank You

Interwoven Confidential