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DEREK GRAY JOINS PENTECH ADVISORY GROUP

Ex Adobe chief to help grow young technology companies

16 June 2003

Pentech Ventures, the early stage technology division of Penta Capital, has appointed Derek Gray to its Advisory Group. The Pentech Advisory Group comprises successful technology entrepreneurs who work with investee companies to help them realize their potential to become global operations. Formerly Senior Vice President with Adobe Systems Inc – a NASDAQ quoted corporation with a turnover in excess of $1bn - Mr Gray has assisted a number of early-stage technology companies requiring operational, and sales and marketing expertise.

At Adobe he was involved in business development, strategic planning, investment and acquisition activities in addition to developing business strategies for specific vertical markets. Prior to this role, he was European General Manager with direct responsibility for all aspects of Adobe’s business in Europe and then progressed to manage Adobe’s sales, support and field marketing organisation on a world-wide basis.

Commenting on the appointment, Ian Ritchie, technology entrepreneur, author and founder member of the Pentech Advisory Group, said: “We are delighted that Derek Gray has joined our Advisory Group. He has a wealth of experience which will be invaluable to Pentech portfolio companies looking to develop their routes to market and form international expansion strategies. His appointment clearly demonstrates Pentech’s focus is on growing portfolio businesses to their full potential.”

Derek Gray commented, “I am very pleased to be joining Pentech's Advisory Group. At present there are many exciting new companies and technologies which will drive the high-tech market in the coming years. Our challenge is to assist Pentech to identify the very best candidates and help nurture them through to maturity and success.”

For further information:

Pentech Ventures
Eddie Anderson
Tel: +44 (0)141 572 7303
Email: eddie@pentechvc.com

PR Representative
Maggie Wright Associates
Tel: +44 (0)131 226 3622 or 07801 710360
Email: maggie@mwa-scotland.com