U.S. Venture-backed company valuations decline from last year's high point but remain steady with a year ago; Median valuations in Europe drop slightly, according to Dow Jones VentureOne.

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M2 PRESSWIRE-31 May 2007-DOW JONES: U.S. Venture-backed company valuations decline from last year's high point but remain steady with a year ago; Median valuations in Europe drop slightly, according to Dow Jones VentureOne(C)1994-2007 M2 COMMUNICATIONS LTD RDATE:31052007 SAN FRANCISCO and LONDON - The median pre-money valuation for U.S.

venture-capital backed companies dropped from the six-year high point it reached late last year, but remains higher than a year ago, according to the latest quarterly valuation report from Dow Jones VentureOne. At $18.5 million for the first quarter of 2007, the median is modestly above the $16.4 million median recorded in the first quarter of 2006, but slightly below the $20 million median it topped out at in the fourth...