August 16, 2001

Axiom Venture Partners Raise Third Venture Fund

New Fund to Focus on Technology and Biotechnology Nationwide

Hartford, CT -Axiom Venture Partners today announced that it has raised in excess of $100 million to be invested in young technology and biotechnology companies nationwide. This third Axiom Fund, Axiom Venture Partners III, will follow the successful model of Axiom I and Axiom II. By comparison, Axiom II was $58 million and Axiom I was $44 million in size.

Approximately three-quarters of the Axiom III funds will be invested in technology (predominantly information technology, including communications) and one-quarter will be invested in biotechnology. All prior Axiom investors participated in Axiom III as well as several notable new investors. Axiom Limited Partner investors include large financial institutions (insurance companies and banks) as well as large private trusts and several wealthy entrepreneurs. Learn more about Axiom at www.axiomventures.com

This press release is made as a matter of record, and is not intended, nor should be interpreted, as a recommendation or solicitation to invest in any company or in any Axiom entity.