Angel Capital Network Elects Chuck Ehrlich Chairman of the Board; Investment Bank Expands Service Offerings for Investors and Entrepreneurs.

Business Editors

SAUSALITO, Calif.--(BUSINESS WIRE)--Dec. 4, 2003

Angel Capital Network Inc. today announced the election of Chuck Ehrlich, Bay Area consultant and educator, to chairman of the board. Ehrlich will oversee the expansion of services for investors and entrepreneurs.

"Early stage investment fuels new venture creation and new ventures ultimately create jobs, economic growth, and wealth for investors and entrepreneurs," said Ehrlich. "We believe that many accredited investors, a large percentage of whom are women, are missing out on the potential high returns from early stage investing because the investment process is too difficult. Our goal is to make early stage investing as easy as investing in mutual funds. We also believe that entrepreneurs need more support and guidance in all stages of the fund raising process. With our disciplined investment-banking approach, which is based on long-term relationships as trusted advisors to both investors and entrepreneurs, we have developed a nationwide network of investment professionals that are working with entrepreneurs in all parts of the country and an international network of investors."

"Chuck brings a wealth of hands-on management experience to our team," said Osamu Tagaya, CEO of Angel Capital Network. "Within our specialized investment banking model, Chuck will lead investor and entrepreneur education programs, oversee the development of our analyst team, and recruit strategic partners for our network."

Ehrlich has been teaching e-business and entrepreneurship at the University of San Francisco Graduate School of Management since 1999 and is on the faculty of the USF New Venture Center. He is principal of The Ehrlich Organization, a consulting company, and serves as a mentor for The Women's Technology Cluster. He has more than 30 years of experience as a manager and consultant in information technology, financial services, and telecommunications industries, including four years of consulting in Japan. Chuck holds a BS in Computer Engineering and a MS in Computing and Information Sciences from Case Western Reserve University, and an MBA from the University of San Francisco.

About Angel Capital Network

Angel Capital Network (ACN) is a boutique investment bank specializing in early stage companies. ACN facilitates private capital investments by angels, institutions, and venture capitalists through its licensed securities subsidiary, ACN Securities, Inc. and its nationwide network of registered securities representatives. ACN is headquartered at 1 Harbor Drive, Suite 205, Sausalito, California 94965, phone [phone], fax [phone]. For more information, please visit www.angelcapitalnetwork.com.