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CONTACT:

Claude Haw Emma Dillon

Venture Coaches High Road Communications

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info@venturecoaches.com edillon@highroad.com

Venture Coaches appoints industry heavyweights to Board of Directors

Former JDS Uniphase, Newbridge Networks executives strengthen
venture capital team

OTTAWA, Ontario – February 28, 2001 ¾ Venture Coaches, an Ottawa-based venture capital firm specializing in early stage wireless and photonics investments, announced today that Bill Sinclair, Conrad Lewis and Ken Wigglesworth have joined the company’s Board of Directors.

“We recognize that in today’s market, entrepreneurs need more than a great idea and funding, they need strong mentors,” said Claude Haw, Managing Partner at Venture Coaches. “With the collective experience and knowledge in identifying market opportunities, developing customer relationships and operating experience, these board members will help Venture Coaches continue to build a strong portfolio of industry-leading companies.”

To date, Venture Coaches has primarily invested in Ottawa-area technology start-ups but expects to make several investments in Toronto, Montreal, and Quebec City. Investors in the Venture Coaches fund include financial institutions, angel investors and pension funds.

“I’m excited to join the impressive group of professionals at Venture Coaches,” said Conrad Lewis. “I look forward to utilizing my skills and experience to foster the development of the next generation of technology entrepreneurs.”

“I look forward to the opportunity to further build the technology industry in Ottawa while working closely with an active seed-stage investor that provides more than money,” said Bill Sinclair. “Experience and guidance in focusing on the right market opportunities are critical for early stage companies.”

Since its successful launch in October of 2000, Venture Coaches has aggressively pursued its mandate to identify and invest in innovative photonics and wireless enterprises. With a fund set to grow to $50 million, Venture Coaches already counts edgeflow Inc. and DPS Wireless Inc. among its investee companies.

Biographies

Bill Sinclair, a co-founder of JDS Optics (now JDS Uniphase) has been involved in the industry for more than 20 years and is well recognized as a leading photonics expert. He began his career as a scientist at Spar Aerospace and then moved to Bell Northern Research. In 1982, Mr. Sinclair became the first employee of JDS Optics and remained President until 1993 managing the early-stage growth of the company. He continues to serve on the Board of Directors of JDS Uniphase. More recently, he has been investing in local technology companies including March Networks, Adherex, Fluorosense and DragonWave.

Conrad Lewis, brings more than 25 years of industry experience from technology companies such as Mitel Corporation, Nortel Networks and Newbridge Networks (now Alcatel Canada). During his tenure at Newbridge Networks, Mr. Lewis served as Chief Technology Officer and Executive Vice President Access Product Group, responsible for the strategic development for high-growth segments, particularly Broadband Wireless, Broadband xDSL and PON (Passive Optical Networking). Over his 15-year career at Newbridge, he actively shaped the company’s business plans, product line expansion and technology ventures. Mr. Lewis is a board member and advisor to several start-ups including Tropic Networks, SpaceBridge, Esion, Bridgewater, Sybridge, DragonWave, DPS Wireless and Digital Fairway.

Ken Wigglesworth, a Chartered Accountant, was most recently Executive Vice President Administration and Chief Financial Officer at Newbridge Networks. As a member of senior management throughout his 13-year career at Newbridge, Mr. Wigglesworth was involved in private financing, public offerings, liaising with financial analysts and institutions. As CFO, he was instrumental in the creation, incubation and exit strategies of many Newbridge Affiliates, notably Tundra, Cambrian (acquired by Nortel), Abatis (acquired by Redback) as well as Newbridge’s early investment in Juniper Networks. He is a board member, advisor and mentor to several Ottawa high technology companies including Sedona Networks, edgeflow and NotVirtual Networks.

About Venture Coaches

Venture Coaches is an Ottawa-based seed and early stage investor committed to building innovative photonic and wireless technology companies. Venture Coaches combines an early stage investment fund with a strong mentoring approach. The company’s partners and advisors leverage extensive investment, technology and management experience as well as a strong industry network to focus the entrepreneur’s vision. With their strategic business network, Venture Coaches is committed to an active business acceleration model. For more information, visit www.VentureCoaches.com

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