Angelsoft Named Best New Product or Service of the Year.

Innovative Angel Investing Platform Honored With 2006 New York Ten Award

NEW YORK -- Angelsoft, developer of the industry-standard collaboration platform for early-stage private equity investing, has been named a winner of the New York Ten Award. Often described as "the Academy Awards of New York Business", this annual selection of ten individuals and companies honors members of the greater New York business community that display extraordinary innovation and leadership in their industry and beyond. Angelsoft and its CEO, David S. Rose, received the Ten Award for "Best New Product or Service" of 2006.

"We congratulate this year's winners, who are at the helm of the most prominent and emerging growth organizations, and salute them for bringing innovation, leadership, integrity, and community involvement to the forefront of the New York business community" said Robert Johnston, president of the Executive Council of New York. "These luminaries are leading by example and inspiring new standards of novel ideas and success."

Rose, an Inc 500 CEO described by Crain's New York Business as "the father of angel investing in New York," is the founder and Chairman of New York Angels, the fastest-growing early stage investment consortium in the country. Its members include over 70 CEOs, investors and venture capitalists who have invested more than $25 million into entrepreneurial start up ventures since 2004. As the group's investments rapidly expanded, Rose saw the need for a standardized, systematized way to support both investors and entrepreneurs in early-stage ventures.

Since Angelsoft's launch in May, 2006, it has been adopted by many of America's largest organized angel groups and has helped to revolutionize the way startup companies get funded. Today, the platform is in use by over 80 sophisticated investment networks in North America, from New York to California, Ottawa to Houston. The international release of the platform has already extended Angelsoft's reach to countries including England, Australia, New Zealand, Norway and Portugal.

The Ten Award, presented by the Executive Council of New York, was announced at the Council's annual gala at Cipriani Wall Street. Carly Fiorina, former CEO of Hewlett-Packard, delivered the keynote remarks and Liz Claman, co-anchor of CNBC's Morning Call, served as Master of Ceremonies. In addition to Angelsoft, the evening's other winners included Google's (NASDAQ:GOOG) New York senior management as Best Executive Team, and Jonathan Tisch of Loews Hotels (NYSE:LTR) as CEO of the Year.

The Ten Awards finalists were drawn from open nominations submitted to the Executive Council of New York. Hundreds of nominations were screened and evaluated by a panel of judges comprised of prominent journalists from New York-based local and national business media outlets, and evaluated based on the individual's contributions to his or her organization's objectives and leadership; the organization's impact on business innovation, both in New York and nationally; and the individual's industry leadership beyond his or her organization.

Previous Ten Awards winners have included: Barry Sternlicht, CEO, Starwood Hotels (NYSE:HOT); David Neeleman, CEO, JetBlue Airways (NASDAQ:JBLU); Jim McCann, CEO, 1800Flowers (NASDAQ:FLWS); Sallie Krawcheck, CEO, Smith Barney (now CFO, Citigroup) (NYSE:C); Alan Patricof, Chairman, Apax Partners; Gordon Crovitz, President, Dow Jones (NYSE:DJ); Shelby Bonnie, CEO, CNET Networks (NASDAQ:CNET); Hossein Eslambolchi, President, AT&T Labs (NYSE:T); Bruce Mosler, CEO, Cushman & Wakefield; Kevin Ryan, CEO, DoubleClick; Adam Moss, Editor in Chief, New York Magazine; Tim and Nina Zagat, Co-chairs, Zagat Survey.

About Angelsoft: Angelsoft has built the first group management and deal collaboration platform designed specifically for the angel investment community. From customized group web sites with integrated deal submission, through secure virtual deal rooms to inter-group syndication, Angelsoft automates and simplifies the business of angel investing for both investors and entrepreneurs. Combining the safeguards of an industrial-grade data storage facility with the latest in "Web 2.0" functionality, it provides secure access to deals wherever and whenever angels need. For more information: http://www.angelsoft.net

About David S. Rose: David S. Rose is an experienced entrepreneur and investor named by Red Herring magazine as "patriarch of New York's Silicon Alley" and by Crain's New York Business as one of the City's top three angel investors. Rose has been dubbed by BusinessWeek "The Pitch Coach" for his mentoring of other entrepreneurs. He is Chairman of network security developer KoolSpan, Inc. and Chairman of wireless data provider Ambient Devices. Rose writes the angel investing column for American Venture magazine, is an expert panelist on MSNBC's television show Your Business, and lectures at business schools including Columbia, NYU, Harvard and Yale. For more information: http://www.newyorkangels.com/members/david_rose.html

About The Executive Council: The Executive Council is New York's premier business forum for senior executives, their advisors and capital markets professionals. Through its member base of 3,500 New York metro business leaders, the organization has built a reputation for highly acclaimed conferences, executive education programs and member-hosted gatherings that focus on critical business and leadership issues at the forefront of corporate America today. The Executive Council Corporate Members range from American Express, IBM and Microsoft to Sprint, Cushman & Wakefield, and McKinsey & Co. as well as many other large and emerging growth companies. For more information: http://www.execcouncil.org