NEWS RELEASE

Venture Coaches Launches Entrepreneur in Residence Program

Ottawa, ON, September 27, 2001 – Venture Coaches, an Ottawa-based seed and early stage venture capital firm announced today that Harold Dyck has joined the company as an Entrepreneur in Residence (EIR). The EIR program at Venture Coaches was created to attract experienced technology entrepreneurs to work closely with the firm while developing their own business concepts. As an EIR, Harold will work with the Venture Coaches’ team to find seed and early stage technology companies, seeking management expertise and capital to grow into world-class technology companies.

“By providing mentorship and an active business approach, this program helps seasoned, experienced entrepreneurs launch new ventures,” said Claude Haw, Managing Partner at Venture Coaches. “At the same time, Venture Coaches will have access to experienced entrepreneurs who will build new companies to take advantage of emerging market opportunities within the wireless and photonic sectors.”

Harold brings over fifteen years of information technology experience to the Venture Coaches team. Most recently from 1996-2000, he was Founder and President of MessageWise Inc., a software company which developed and marketed management software for electronic messaging systems to Fortune 1000 companies. Under Harold’s direction, MessageWise flourished to become a recognized leader in providing software solutions for managing global email networks. The company was sold to Quest Software of Irvine, California in April 2000. Until recently, Harold remained at Quest Software in Product Development, where he also acted as an advisor to the President and CEO of Quest on technology issues.

Prior to founding MessageWise, Harold held management positions in software companies in diverse stages from start-ups to large established players. He has strong roots in the software industry including government and private sector, as well as working for a major software manufacturer, allowing him to gain a unique perspective on the industry. As an EIR at Venture Coaches, Harold will be focusing on investment opportunities in the wireless software and applications market.

About Venture Coaches

Venture Coaches is an Ottawa-based seed and early stage venture capital firm committed to building innovative photonic and wireless product companies. We invest in start-ups that build and market components, modules, systems, network solutions, software and applications. Venture Coaches has built a strong industry network of business partners and advisors with investment, technology and management expertise to mentor our portfolio companies. Portfolio companies include edgeflow, Spotwave Wireless, DragonWave, SpaceTime Wireless and Camelot Content.

For more information, visit www.VentureCoaches.com