Artimi Secures Further Funding and Accelerates UWB Development; Strengthens Management Team with Sales & Marketing Veteran.

Business Editors/High-Tech Writers

CAMBRIDGE, United Kingdom--(BUSINESS WIRE)--Oct. 27, 2003

Artimi Ltd, the Cambridge based fabless semiconductor company developing UWB silicon solutions, announced today that it had closed a further private investor round. Investors in this round include GEIF Ventures Fund.

Artimi also announced the appointment of Tom Cooper, an industry veteran, as VP of Sales and Marketing. "The opportunities in the UWB chip market are tremendous and Artimi is well positioned to be a leader in this space," stated Cooper. "The advanced nature of Artimi's technical solution and solid product roadmap uniquely positions them for early entry into the UWB market, which analysts are now predicting will be 180 million UWB-enabled devices with annual revenues of $1 billion within five years."

Cooper was most recently CEO of New Visual Corporation, a San Diego California-based fabless semiconductor developer. Prior to his tenure at New Visual, Cooper served as Sr. Vice President Corporate Development with GlobespanVirata, where he enjoyed a successful career from its start-up days as Virata, to it's flotation on the NASDAQ in 1998 and subsequent merger with Globespan in 2001.

"Tom brings a wealth of sales and marketing experience in the telecommunications semiconductor industry to Artimi," stated Jack Lang, CEO of Artimi, "and he also has the distribution contacts to open new customers' doors for us. Artimi is fortunate to continue to attract such world class talent as Tom to our team." Cooper is based in California where Artimi is setting up its sales and marketing office.

Artimi continues to monitor and participate in standards and industry groups to ensure compatibility and interoperability of its UWB devices. Lang added, "This additional funding will enable Artimi to accelerate development of its core UWB technology and remain flexible to adapt to the emerging standard without risking time to market. Our development remains on track and first silicon is expected soon."

Artimi is developing low-cost, low-power UWB devices to enable the next generation of wireless consumer products. Artimi's feature rich devices provide mesh wireless connectivity with high-precision location capability, delivering up to 500 Mbits/s data transfer and an extended range to 30 metres through unique patent pending implementations. Artimi is demonstrating its technology to early customers, and volume silicon is on schedule for Q3 04.

The company is now commencing a process to introduce investment from Venture Capital and Private Equity investors.

About Artimi Ltd

Formed in 2002, Artimi Ltd is a fabless semiconductor company developing silicon solutions for high bandwidth wireless connectivity based on Ultra Wideband (UWB) technologies. Artimi's solution provides high data rate, low power consumption and low cost silicon solutions for ubiquitous Wireless Local Area Network (WLAN) and Wireless Personal Area Network (WPAN) applications. For more information, visit www.artimi.com.