Bowstreet's Investment Total Climbs to $140 Million With $50 Million Fourth Round.

Business/Technology Editors

PORTSMOUTH, N.H.--(BUSINESS WIRE)--Nov. 10, 2000

Amerindo Investment Advisors, Azure Capital, Essex Partners and Putnam

Investors Join Current Investors in Recognizing Bowstreet's Steady

Growth and Business Webs Vision

Bowstreet (www.bowstreet.com), a leading provider of business web automation solutions for plug-and-play e-commerce, today announced that it has secured an additional $50 million in its fourth round of venture funding to bring the company's total investment capital to $140 million.

First-time investors Amerindo Investment Advisors Inc., Azure Capital, Essex Partners and Putnam Investors participated in this latest round. Investors from previous Bowstreet rounds (who also invested in the fourth round) include, in alphabetical order: Charles River Ventures, Chase H&Q, Comdisco, Credit Suisse First Boston, Dain Rauscher Wessels, Dell Ventures, Gatehouse Investors/Wit SoundView, GE Equity, Integral Capital Partners, JEGI Capital LLC, Kleiner Perkins Caufield & Byers, Matrix Partners, Novell Ventures, Oracle Corporation, Partech International, Pequot Capital Management and Thomas Weisel Partners.

"Our ability to attract high-quality investors who are making significant financial commitments further validates our market momentum and our vision as companies are already shifting to XML web services, and now business webs to speed and enhance e-commerce," said Bob Crowley, Bowstreet president and CEO. "Business webs - the ability for companies to dynamically connect and share core competencies over the web to create new business models - are becoming an accepted e-commerce model. Today, Bowstreet has a solution that helps companies rapidly capitalize on the ability to create collaborative, on-the-fly business models - this is the power of business webs."

In the past six months, Bowstreet has signed on a number of industry-leading companies, including GE Small Business Solutions and Pitney Bowes; initiated operations in Europe and opened a co-headquarters location in Massachusetts' Route 128 high-tech belt; forged partnerships with leading e-commerce vendors such as webMethods and Vitria; and taken a founding or leading role in several new eBusiness standards initiatives, including UDDI, jUDDI and XAML. Many of Bowstreet's newest customers are skipping a generation of e-commerce technology and moving directly to business webs, with Bowstreet's help.

About the Bowstreet Business Web Factory

Bowstreet's Business Web Factory enables companies to accelerate B2B e-commerce using business webs, or collections of high-level web services that come together dynamically on the web to create new business models. This approach of interconnecting companies in dynamic business webs is based on the Business Web Factory's foundation in Extensible Markup Language (XML), a common language of e-commerce, and on Bowstreet's change automation technology, which enables companies to create mass-customized, high-level B2B and B2C web services using parametrically driven, on-the-fly assembly of core web services. The Bowstreet platform additionally enables companies to maintain their own directories of web services and to provide managed access to these web services through firewalls.

About Bowstreet

Bowstreet provides XML infrastructure for plug-and-play e-commerce. Bowstreet's Business Web Factory and businessweb.com use change automation technology to create business webs: fluid, interconnected collections of web services that come together dynamically over the Internet to create entirely new business models. Bowstreet's pioneering solutions enable companies to sell new products and services, create new channels of distribution and develop new business initiatives at a fraction of the time and cost of many of today's approaches. For more information, visit www.bowstreet.com or call 603-559-1900.

Bowstreet is a trademark of Bowstreet Inc. All other company names and product names may be trademarks or registered trademarks of their respective companies or owners.