Transitive's Fast-Growing Commercial Success Leads to GBP 500,000 Knowledge Transfer Award for the University of Manchester.

"KT Challenge" Award Celebrates Outstanding Examples of Knowledge Transfer from the Academic World to Industry and Public Sectors, and Encourages Further Innovation

LOS GATOS, Calif. -- Transitive[R] Corporation, the leading provider of software that enables transportability of software applications across multiple hardware platforms, today announced that it has served as a successful recipient of knowledge transfer, enabling the University of Manchester in the UK to win the highly coveted "KT Challenge" Award. This award, and the accompanying [pounds sterling]500,000 grant, was presented by the UK government's Engineering and Physical Sciences Research Council (EPSRC), and will be used to help fund:

* academic research concept studies that allow academic researchers and industry to develop technology ideas with genuine commercial potential,

* business feasibility studies that allow smaller firms and academic partners to gain enough confidence to embark on a full-scale knowledge transfer project, and

* a relationship incubator scheme for companies to relocate small numbers of staff to the University, in advance of full-company relocation to the region.

The University of Manchester was selected as the winner over more than 50 university entries. As part of the KT Challenge award, Transitive has also been given an EPSRC-funded CASE studentship worth [pounds sterling]60,000. This provides money for a student to work in partnership with the company for three and a half years.

"The University of Manchester consistently attracts world-class talent in its students," said Alasdair Rawsthorne, founder and CTO of Transitive Corporation and lecturer in Computer Science at the University of Manchester. "In my research at the University, I have been privileged to collaborate with some of the finest young engineering minds in the world, and as an entrepreneur, I am grateful for the opportunities that the University provided me to develop, prove and ultimately turn our research into reality. I'm always pleased to see Transitive's progress being recognized outside the confines of the computer industry, and particularly pleased when the University of Manchester, from which we came, can benefit."

"We are pleased that this EPSRC award recognizes the research excellence and commitment to innovation of the team behind Transitive Ltd.," said Professor Alan Gilbert, the University's President & Vice-Chancellor. "The award is also an early indication of Manchester's determination to be a major international contributor to Knowledge Transfer."

About the EPSRC

The Engineering and Physical Sciences Research Council is the UK's main agency for funding research in engineering and the physical sciences. The EPSRC is investing [pounds sterling]650 million this year in research and postgraduate training, to help the nation handle the next generation of technological change. The areas covered range from information technology to structural engineering, and mathematics to materials science. This research forms the basis for future economic development in the UK and improvements for everyone's health, lifestyle and culture. EPSRC also actively promotes public awareness of science and engineering. EPSRC works alongside other Research Councils with responsibility for other areas of research. The Research Councils work collectively on issues of common concern via Research Councils UK. For more information on the EPSRC please see www.epsrc.ac.uk.

About Transitive Corporation

Transitive is a pioneer and leader in providing solutions that allow the transportability of software applications across multiple hardware platforms. The company's QuickTransit hardware virtualization solution allows software applications that have been compiled for one processor/operating system to run on another without any source code or binary changes and at speeds comparable to native ports. QuickTransit allows data center managers to transport legacy enterprise applications quickly and easily from outdated, proprietary hardware to modern, industry-standard platforms without incurring the costs and delays of porting projects, and with no disruption to end users. QuickTransit also facilitates computer companies' migration to new hardware platforms; dramatically reduces software developers' cost, risk, and time-to-market in supporting multiple hardware platforms; and makes significantly more software available for more hardware platforms. QuickTransit technology provides the engine for Apple's Rosetta translation software and is currently shipping on all of Apple's Intel-based computers.

Transitive Corporation is located in Los Gatos, California with a research and development team in Manchester, England. The company is privately held, with funding participation by Pond Venture Partners Ltd., Manchester Technology Fund, Crescendo Ventures and Accel Partners. For more information, please visit Transitive's website at www.transitive.com.

Transitive and QuickTransit are registered trademarks, and the Transitive logo is a trademark of Transitive Corporation and/or its affiliates in the United States and other countries. All other company and product names may be trademarks of their respective owners.