Newbury Ventures Adds Two Venture Partners to Capitalize On Canadian Investment Opportunities.

Business Editors

SAN FRANCISCO--(BUSINESS WIRE)--June 5, 2001

Recognizing that Canada is home for a substantial pool of communications and networking talent, Newbury Ventures has named Ontario-based Conrad Lewis and Ken Wigglesworth as Venture Partners to focus on investments in communication and information technology companies.

Lewis lives in Ottawa, Ontario and boasts a quarter century's worth of technological, management and advisory experience. With Newbury, he will focus primarily on early stage networking and communications investments in Canada. Lewis is also a principal and co-founder of Eagle One Ventures, a business accelerator focused on pre-IPO telecommunications and networking companies.

Prior to joining Newbury he served as EVP of the Access and Network Management Product Group at Newbridge Networks Corporation where he was responsible for product management and research and development of 3 key Newbridge product lines: broadband access, IP VPN's, and network and service management. He was also a key member of the 4 person executive team that drove the $8 billion acquisition by Alcatel in May 2000.

Lewis currently serves as a board or advisory board member on a number of private companies in optical networking, wireless and service management that focus on either the system or component level. These companies include Tropic Networks, Metrophotonics, Northwood Technologies, Spacebridge Semiconductor and Digital Fairway.

Lewis holds six patents in digital communications and earned his degree in Electrical Engineering from Queen's University in Kingston, Ontario. He has also completed a variety of post-graduate courses in both Electrical Engineering and Computer Science at Carleton University and the University of Ottawa.

Ken Wigglesworth also lives in Ottawa and brings to Newbury a strong financial background as the former CFO of Newbridge Networks. Wigglesworth will provide invaluable financial assistance and support to Newbury's portfolio companies. He is also a co-founder and principal of Eagle One Ventures, a business accelerator of networking start-ups.

Wigglesworth joins Newbury after 13 years with Newbridge Networks (now Alcatel) in a variety of senior management roles. Appointed EVP Administration & CFO of Newbridge in 1996, he was closely involved in the successful $8B Alcatel/Newbridge merger. As CFO, Wigglesworth played a significant role in the creation, incubation and financing of many start-up companies, including Tundra (TSE:TUN), Sonoma Systems (acquired by Nortel), Pixstream (acquired by Cisco), and Newbridge's early investment in Juniper Networks.

Over the years Wigglesworth brought his knowledge and experience to the board of directors of a number of the start-ups in which Newbridge has invested. He is currently a board or advisory board member for several private companies including Sedona Networks, NotVirtual Networks, Infopreneur, Edgeflow and Ridgeway Research. Wigglesworth earned his designation as a Chartered Accountant from the Canadian Institute of Chartered Accountants in 1987.

"We are delighted to have Conrad and Ken on board," said Jay Morrison, a founding partner of Newbury Ventures. "The additions to our team will expand our global reach and will add significant value in sourcing and nurturing new investment opportunities as well as forming strategic partnerships with portfolio companies."

About Newbury Ventures

With over $600 million in assets under management, Newbury Ventures is a private venture capital partnership focusing on investments in communication and information technology companies throughout North America and Europe. Newbury specializes in identifying opportunities for significant capital appreciation by investing in promising entrepreneurial companies at early stages of their development. Newbury Ventures recently closed it's third fund at $250 million.