AppIQ Named One of 200 Finalists for Red Herring 100 List of Top Private Technology Companies in North America.

BURLINGTON, Mass. & BELMONT, Calif. -- Red Herring has announced that AppIQ(TM), Inc., a leading provider of software solutions that enable data storage to be managed as a business-focused IT utility, has been named one of the two hundred Finalists for the Red Herring 100 Private Companies of North America award program. Over nine hundred nominations were submitted for consideration. The Red Herring 100 winners will be unveiled at the Red Herring Spring 2005 conference, May 17-19, 2005 in Monterey, CA. Dedicated to celebrating the most exciting private North American companies, the three-day conference will feature keynote speeches, lively dialogue, and company presentations by the CEOs of the Red Herring 100.

"There were many strong candidates for the Red Herring 100 list this year, so making it onto the list is quite an achievement," said Joel Dreyfuss, editor-in-chief of Red Herring. "In the post-bubble era, North American technology companies have focused on making sure management is strong and that the business model makes sense."

The two hundred Finalists will be evaluated to determine the Red Herring 100 that embody innovation, technology, and strategy. The Red Herring editorial team has completed a thorough analysis of business model, competitive advantage, alliances, customers, and technology for each company.

"At AppIQ, all efforts support our goal of becoming the leading supplier of open software that simplifies the management of multi-vendor storage infrastructure. We focus on leading the market with our best-in-class storage area management technology, forming and maintaining strong distribution partnerships with the top players in the storage market, and executing successful customer implementations," said Dave Lemont, CEO, AppIQ. "As a result, we have emerged as the de facto standard and dominant force in storage area management and are both pleased and proud to be recognized by Red Herring with this honor."

Companies selected to the Red Herring 100 award program will be invited to present their business model and technology at the Red Herring Spring 2005 conference. The awards ceremony will take place during the Welcome Dinner on May 17th. The three-day intimate event is themed "The Dynamics of Disruptions" and will shine its light on the business of technology, featuring keynotes and roundtable discussions. A complete overview and agenda can be found at http://www.redherring.com/rhspring05. Red Herring Spring conference is an invitation-only gathering for CEOs, venture capitalists, and select senior executives. To request an invitation, please contact Sean Raman at 650.428.2900 or via email at [e-mail].

About AppIQ

AppIQ(TM), Inc. is a leading provider of open Storage Area Network (SAN) management and Storage Resource Management (SRM) solutions. Customers worldwide in almost every industry rely on AppIQ software to simplify the management of storage infrastructure, reduce operational costs, and synchronize IT resources with business needs. AppIQ StorageAuthority(R) Suite and "Powered by AppIQ" solutions are "Enabling the storage utility"(TM) for today's data-intensive enterprise by seamlessly integrating storage resource visualization, provisioning, monitoring, reporting, and policy-based automation, and by correlating the availability of business-critical applications with SAN configuration, capacity, and performance. AppIQ products are sold across all continents through strategic OEM partners Engenio, Hitachi Data Systems, HP, SGI, and Sun Microsystems, and a global network of resellers. AppIQ is based in Burlington, MA, USA. For more information, visit www.appiq.com.

About Red Herring

Red Herring covers technology innovation, venture financing, and the deals that make a difference. Its award-winning journalists go deeper, providing a comprehensive, critical analysis of what's new and why it matters. Red Herring covers the business trends with insight that counts, serving today's entrepreneurs and the technology of tomorrow. Head to www.RedHerring.com for articles, newsletters, and research reports that matter. To subscribe to the Red Herring Magazine call 866.311.9582 or email [e-mail].

(C) 2005 AppIQ, Inc. AppIQ and "Enabling the storage utility" are trademarks and StorageAuthority is a registered trademark of AppIQ, Inc. in the United States and in other countries. All other brands or products are trademarks or registered trademarks of their respective holders and should be treated as such.