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Capital Connection 2003 Presenters Receive Nearly $150M in Funding

Figures from Last Year's Selected Companies Reinforce Venture Fair's Track Record of Consistently Selecting Fundable Companies

Stage Set for 2004 Fair, June 1-2

Timonium, MD - May 12, 2004 - Twenty-two (44%) of the 50 emerging technology and biotech companies that were selected to present at the Mid-Atlantic Venture Association's (MAVA) Capital Connection 2003 venture fair one year ago have received $147.91 million in funding, according to the latest figures collected and released by MAVA.

The amount of capital funded into 2003 presenters has outpaced that raised within one year by 2002 companies ($105.1M) by 29%. While the dollar volume increased significantly, the percent of 2003 presenters that received funding is slightly lower than that of the previous year (44% versus 49%). The four largest deals among Capital Connection 2003 companies were: Biolex ($24.4M), LVL7 ($15.8M), MaxCyte ($10.7M) and HealthScribe ($10.7M).

"Capital Connection continues to attract and select the highest caliber companies in the region, as evidenced by the high percentage of our 2003 selected companies that attracted financing over the past year," said Julia Spicer, Executive Director of MAVA. "Not only are our selection and coaching processes rigorous and attuned to the venture industry's preferences, but they are also proven methods for ensuring the best showcase for some of the market's most fundable opportunities," Spicer said.

Now in its 14th year, MAVA's Capital Connection annual venture fair has helped shape the region's entrepreneurial economy, generating more than $2.4 billion of venture investments for the participating companies. Some of our region's biggest success stories - AOL, Ciena, Corvis, UUNet, Blackboard and webMethods - have presented at the prestigious event. This year, 50 companies are expected to present at Capital Connection 2004, June 1-2 at the JW Marriott Hotel in Washington, DC.

About MAVA
Founded in 1986, MAVA represents the collective interests and leverages the success of venture capitalists investing in the mid-Atlantic. MAVA provides a wide range of programs, information and forums designed to facilitate quality deal flow, encourage collaboration, and foster solid relationships among industry professionals who are committed to helping business growth. Membership includes 375 venture capital professionals at nearly 120 firms with more than $10 billion of capital under management. In addition, over 265 key professional service providers from the legal, financial, executive search and consulting fields are also MAVA members. For more information, please visit www.mava.org

Companies that received funding within one year of being selected to present at Capital Connection 2003 include:

* Selected to present at Capital Connection 2003, but received funding prior to fair.

Capital Connection is a registered service mark of the Mid-Atlantic Venture Association (MAVA).

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