Cyber Park of Santo Domingo Establishes Incubator Investment Fund; Cyber Park to Help Innovative High Technology Firms Expand in the Dominican Republic.

SANTO DOMINGO, Dominican Republic -- The Cyber Park of Santo Domingo, the country's premier high technology park, announced that it has established an investment fund targeted to help innovative high technology start-up firms locating their development operations at the Cyber Park. The new fund is called the "Cyber Park Incubator Investment Fund." The Cyber Park will invest in firms that are developing creative high technology solutions that have commercial potential in various high technology sectors. In addition to possible investment, the Cyber Park will also contribute building facilities, information technology support and customized technical training.

The Cyber Park is located in the center of a major campus that includes the Institute of Technology of the Americas, which provides certified training in several areas of technology training. Additionally the campus will house the new Stevens Institute of Technology of the Americas, which will provide advanced degrees in engineering as well as leading edge R&D facilities.

"The Incubator Fund will help both local innovative Dominican start-up firms get established in their early stage product development efforts. Furthermore, we will also provide assistance to overseas start-up firms who locate their development operations at the Cyber Park," said Mr. Eddy Martinez, President, Cyber Park Board of Directors. "Capital and access to support facilities are critical to the success of a start-up operations. By supporting innovative firms, we not only make a sound financial investment in the future but also provide the nucleus for a Dominican based high technology corridor in the region," said Mr. Martinez.

"The establishment of the Incubator Fund is one of several initiatives that we are taking to position the Cyber Park as a center of technological innovation in Latin America. By investing in creative start-up operations we are also investing in long term partners for the Cyber Park," said Mr. Ray Vera, Executive Vice President of the Cyber Park. "We are interesting in helping incubate firms that demonstrate promise in leading edge areas of different areas of technology, including telecommunications, design manufacturing and information technology," concluded Mr. Vera.

About Cyber Park of Santo Domingo- The Cyber Park is the Dominican Republic's premier high technology center. Founded to encourage firms to off shore their technology development and operations to the country, the Cyber Park's clients include firms in software development, business process outsourcing and manufacturing. Contact the Cyber Park at [phone]; Fax [phone]