Blue Lane Technologies Unveils Company, New Inline Patch Proxy Product, $13.4 Million in Blue Chip Funding and Initial Customers; Premier VCs, Veteran Networking, Security and Enterprise Software Talent Drives Early Successes.

CUPERTINO, Calif. -- Blue Lane(TM) Technologies Inc. today officially took the wraps off the new company unveiling funding from a cast of blue chip venture capitalists, a strong team blending networking, security and enterprise software talent, and customers already deploying its new inline patch proxy to protect their enterprise servers and ensure business availability. E[acute accent]"We are pleased to introduce Blue Lane and also announce the completion of our Series B funding and the leading venture capital firms that, with their industry and technology insights, have chosen to support us," said Jeff Palmer, president and CEO of Blue Lane. Palmer is an experienced executive with a track record in enterprise software and security from GetThere, Memco Software, Pilot Software and BBN. E[acute accent]Blue Lane has raised a total of $18.4 million in venture funding from Benchmark Capital, Matrix Partners, and Duff Ackerman & Goodrich (DAG) with $13.4 million added last quarter by the entrance of DAG leading the Series B round of funding. John Cadeddu from DAG joins the board of directors which includes Andy Rachleff from Benchmark, Bob Lisbonne from Matrix, Sandeep Johri from HP, noted industry executive Dennis Barsema as chairman and Jeff Palmer. E[acute accent]"Blue Lane's innovative approach to solving the security and operational risks associated with unpatched server vulnerabilities and unscheduled patching is a breakthrough for enterprises," said John Cadeddu. "Furthermore, the management team and talent of networking, security and enterprise software professionals are the right combination of expertise necessary to successfully bring a new idea of this importance to the market." E[acute accent]Founded in the third quarter of 2002, Blue Lane has been quietly developing its new product, building a strong team of employees and winning early customers. The company's mission is to provide network-based solutions that optimize business operations and availability with their inline patch proxy for enterprise servers, the first product to deliver upon that goal. E[acute accent]"With new server software vulnerabilities appearing faster and faster, the need to patch quickly is growing rapidly. Yet testing before deployment is a huge hurdle because of the risk of system failure," said Andy Rachleff. "We invested in Blue Lane because their inline patch proxy is the only such product on the market and the only viable way to address a problem which threatens the performance of the enterprise's business." E[acute accent]"To truly be able to emulate a software vendor's patch and immediately secure a business critical server without risk of system failure or exploit is a remarkable achievement and solution to an increasingly difficult problem," said Bob Lisbonne. "This, along with the caliber of the team, was a very compelling reason to invest in Blue Lane." E[acute accent]In addition to Palmer, this talent includes a number of industry veterans. Allwyn Sequiera is vice president of engineering and operations, bringing strong networking and software experience as a senior executive with netVmg, First Virtual Corporation and Ungerman Bass. Vice president of marketing is Fred Kost who was previously a senior marketing executive at nCircle Network Security, Recourse Technologies and Symantec Corporation and also held earlier management positions at Compaq, Intel and Genesys. E[acute accent]With headquarters in Cupertino, California, Blue Lane has also established a wholly owned subsidiary in Pune, India: Blue Lane Technologies Pvt., Ltd. An extension of the PatchPoint development team is located at Blue Lane's Pune location. "We have built a very successful and productive office in Pune," said Allwyn Sequeira. "In a short period of time we have been able to establish a strong development team that has made significant contributions to the development of the PatchPoint product." E[acute accent]At launch, Blue Lane's inline patch proxy has been deployed and is protecting the business availability of many customers, including WesCorp, the nation's largest corporate credit union, and Micromuse Inc., the leading provider of ultra-scalable, real time business and service assurance software. (Editors note: see concurrent press releases: Blue Lane Announces The Industry's First Inline Patch Proxy; WesCorp, The Nation's Largest Corporate Credit Union, Chooses Blue Lane; and Micromuse Secures Business Critical Microsoft Servers With Blue Lane.)

E[acute accent]About Blue Lane Technologies Inc.

E[acute accent]Blue Lane provides the industry's first inline patch proxy for enterprise servers that fixes application-specific vulnerabilities at the root cause by checking for the same conditions and applying the same corrective action as the software vendor security patch. Solving the dilemma of "patch now or patch later," PatchPoint instantly secures critical applications and preserves the uptime of the business while eliminating the cost and risks associated with unscheduled patching. Founded in 2002, Blue Lane is headquartered in Cupertino, California. For more information, contact the company at www.bluelane.com.