Venture-Capital Activity Focused on Rebuilding in 2004; First Year of Positive Growth in Investing and Liquidity Since the Bubble, According to VentureOne and Ernst & Young LLP

Business Wire, Dec 13, 2004

E[acute accent]The investment figures included in this release are based on aggregate findings of VentureOne's proprietary European research. This data was collected by surveying professional venture capital firms, through in-depth interviews with company CEOs and CFOs, and from secondary sources. These venture capital statistics are for equity investments into early-stage, innovative companies and do not include companies receiving funding solely from corporate, individual, and/or government investors. No statement herein is to be construed as a recommendation to buy or sell securities or to provide investment advice. E[acute accent](C) 2004, VentureOne.

E[acute accent]About VentureOne

E[acute accent]VentureOne (www.ventureone.com), a unit of Dow Jones Newswires, has been the leading provider of finance and investment data to the venture capital industry for almost 20 years. VentureSource, a sophisticated electronic database on the venture capital industry, is published by VentureOne.

E[acute accent]About Dow Jones Newswires

E[acute accent]Through its Dow Jones Newswires unit, Dow Jones (www.djnewsletters.com) produces focused, sector-specific online databases, newsletters and industry events as well as providing (www.djnewswires.com) real-time news for financial professionals in the equities, fixed-income, foreign exchange and energy markets, and also offers news for financial firms' Web sites. Newsletters published by Dow Jones include Private Equity Analyst, VentureWire Professional, and Daily Bankruptcy Review. In addition to Dow Jones Newswires, Dow Jones & Company (NYSE: DJ) publishes The Wall Street Journal and its international and online editions, Barron's and the Far Eastern Economic Review, Dow Jones Indexes and the Ottaway group of community newspapers. Dow Jones is co-owner with Reuters Group of Factiva, with Hearst of SmartMoney and with NBC Universal of CNBC television operations in Asia and Europe. Dow Jones also provides news content to CNBC and radio stations in the U.S.

E[acute accent]About Ernst & Young

E[acute accent]Ernst & Young, a global leader in professional services, is committed to restoring the public's trust in professional services firms and in the quality of financial reporting. Its 100,000 people in 140 countries around the globe pursue the highest levels of integrity, quality, and professionalism to provide clients with solutions based on financial, transactional, and risk-management knowledge in Ernst & Young's core services of Audit, Tax, and Transaction Advisory Services. Ernst & Young practices also provide legal services in some parts of the world where permitted. Further information about Ernst & Young and its approach to a variety of business issues can be found at www.ey.com/perspectives. Ernst & Young refers to all the members of the global Ernst & Young organization.