Battery Ventures Appoints Venture Partner to Focus On Portfolio Fund Raising Efforts; Former CSFB Executive Stephen Terry Will Augment Portfolio Companies' Financing Initiatives.

Business/Technology Editors

SAN MATEO, Calif.--(BUSINESS WIRE)--Nov. 5, 2001

Battery Ventures, a leading venture capital firm focused on technology investments, today announced that former Credit Suisse First Boston executive, Stephen Terry, joined the firm as a Venture Partner. Terry will serve as a liaison between the private capital market industry and Battery's portfolio companies that are seeking additional rounds of funding.

Terry's addition to Battery demonstrates the firm's continuing commitment to providing value-added strategic services to its portfolio companies. He augments a team of Venture Partners appointed during the past two years who assist portfolio companies in other selected areas, including high-level executive recruitment and strategic marketing activities.

"It's extremely difficult for companies to raise capital in the current financial climate," said Battery Ventures general partner Tom Crotty. "Steve brings us an incredible depth of experience and insight into the capital markets. He will be instrumental in helping our companies prepare for the fund raising process and increase the odds of a successful conclusion."

Crotty added, "Essentially, Steve's role is to match one constituency that seeks valuable investments and another that seeks additional funding. By leveraging Steve as a resource, our portfolio companies can leverage their valuable time by compressing the fund raising timeline."

At Battery, Terry is specifically charged with counseling communications equipment, services and software portfolio companies that are raising additional funds. Working side-by-side with the investment team at Battery and the management of each portfolio company, he will also oversee introductions of investment banks to portfolio companies, prepare companies for investor meetings and help negotiate terms of selected financings. He will be based in Battery's San Mateo, Calif., office while serving the full portfolio of Battery investments.

As an Investment Banking Director at Credit Suisse First Boston's Technology Group, Terry was responsible for managing the Communications Software practice consisting of seven investment banking professionals and a research team. Previously, he was with Robertson Stephens & Co., most recently as an Investment Banking Vice President. During his tenure at Robertson, Terry was a member of the Convertible Securities practice, responsible for the Company's convertible securities origination-new issues and restructurings, and the Information Services practice where he managed all aspects of new business development, client management and deal execution.

About Battery Ventures

Battery Ventures is a leading venture capital firm focused on technology investments. With a team of more than 60 professionals and nearly two decades of success, Battery has the people, experience, and capital to guide emerging technology companies to category dominance. Since 1983, the firm has invested worldwide in more than 130 companies across the communications, software and Internet/e-Business industries. From its offices in Wellesley, Mass., and San Mateo, Calif., the partnership manages more than $1.8 billion in committed capital. For more information, please visit www.battery.com.