Allan Ferguson Joins National Venture Capital Association's Board Of Directors.

Business Editors

WALTHAM, Mass.--(BUSINESS WIRE)--May 7, 2002

3i, a leading international venture capital company, today announced that Allan Ferguson, Managing Director, has joined the Board of Directors of the National Venture Capital Association (NVCA). The NVCA currently represents 475 venture capital and private equity firms in the U.S. Its aim is to promote and protect the interests of venture capitalists and entrepreneurs and to foster an understanding of the importance of the venture capital to the vitality of U.S. and global companies.

"From the standpoint of an international venture capital community, the NVCA is an ideal platform for bringing together entrepreneurs, venture capitalists and the financial community," commented Allan Ferguson. "Before joining the Board of Directors, I was extremely impressed with the organization's track record of promoting entrepreneurs across all sectors. As an international venture firm with strong operations in the U.S., 3i seeks to help build great businesses using a hands-on approach and by leveraging our international network. The NVCA's ability to provide networking opportunities and nurture both great companies and financial partners is unsurpassed. I am honored and excited to be a member of the NVCA Board of Directors."

Allan Ferguson joins four additional new Directors who will each serve four-year terms including: Ted Dintersmith of Charles River Ventures, Bob Grady of Carlyle Venture Partners, Bon French of Adam Street Partners and Don Hebb of ABS Capital Partners.

"Our five new directors epitomize the talent, vision and energy of the venture capital industry," said Mark Heesen, President of the NVCA. "These are unique individuals who are dedicated to bringing great ideas to the marketplace. It is this type of commitment that will serve our entire industry well, and we look forward to their contribution."

According to Howard Cox, Chairman of the NVCA, the organization will focus on a variety of issues including stock option accounting, free trade and educating and mentoring young venture capitalists during the next 12 months.

"We are looking forward to helping the NVCA address the challenges associated with deploying, maintaining and scaling businesses," said Ferguson.

"As an international firm with a successful track record we are delighted to contribute to strengthening the U.S. venture capital industry and to foster the cooperation with NVCA and the European Venture Capital Association," said Martin Gagen, President and CEO of 3i U.S. "Companies need an effective way to communicate. The NVCA's ability to leverage its network is a compelling 'win-win' for venture capital firms and we believe that Allan will bring significant experience and ability to its efforts."

Allan Ferguson has over 15 years of experience in international venture capital investing with technology companies. Prior to joining 3i he was a managing partner of Aspen Ventures and a general partner of Atlas Ventures, investing in life science companies and information technology. He has also held several senior operating positions at Johnson & Johnson, Ortho Diagnostics Systems Inc. and Damon Biotech, where he served as a managing director and senior vice president responsible for its European operations.

Allan Ferguson holds a B.S. in chemical engineering from the University of Delaware and attended the Harvard Executive Management program.

About 3i

3i is a leading international venture capital company with U.S. offices in Menlo Park, CA and Waltham, MA. Operating since 1945, 3i has invested worldwide over $20 billion, including co-investment funds, through its 16-country, 3-continent network of 36 offices. 3i leverages this worldwide presence to add value to its portfolio companies and investment partners. Outside the USA, 3i invests broadly in private equity and venture capital. In the United States, 3i concentrates on technology investments in companies with the potential to be leaders in their markets. Visit 3i and its portfolio at www.3ius.com.

About NVCA

The National Venture Capital Association (NVCA) represents 475 venture capital and private equity organizations. NVCA's mission is to foster the understanding of the importance of venture capital to the vitality of the U.S. and global economies, to stimulate the flow of equity capital to emerging growth companies by representing the public policy interests of the venture capital and private equity communities at all levels of government, to maintain high professional standards, facilitate networking opportunities and to provide research data and professional development for its members. For more information, visit http://www.nvca.org/.