It has been yet another great year in the Digital Media sector, and GP Bullhound is proud to announce the Media Momentum top 50 list 2008. At the awards ceremony held at Sketch in London, awards were given out to Net-a-porter, Mobile Interactive Group, Vibrant Media, The Search Works and YouGov. The invitation-only event was attended by UK's top internet and media entrepreneurs.

View Digital Brochure, including winners and top 50 list, here: http://publishing.yudu.com/A7l87/mediamomentumtop50

Competition was fierce and the top 50 companies in this year's list have collectively grown their revenue base from �185m to a staggering �587m calculated over a three year period.

Manish Madhvani, Co-founder and Partner of GP Bullhound, said: "Media Momentum recognises the hottest, fastest growing digital media businesses in the UK.  We recognise the best of the best - wherever they are in the UK and whatever aspect of digital media they're involved in."

The premium sponsors are 3i, Olswang and Sky Digital Media, with ECI and Spectrum as award sponsors, and POD1 doing the event visuals and countdown.

 

GP Bullhound, the research-centric technology investment bank, today announces the completion of a $10m financing round for Zinwave, a pioneer and leader in next generation in-building cellular and wireless technology. This Series B financing was led by SEB Venture Capital as well as attracting further funding from existing investors Atlas Venture and Scottish Equity Partners.

Proceeds from this round of financing will support Zinwave's aggressive growth strategy and global market expansion plans. The investment comes hot on the heels of the launch of the Zinwave 3000, a unique wideband active distributed antenna system (DAS), at Mobile World Congress in Barcelona last month and will enable Zinwave to continue its product innovation and strengthen its existing mobile operator and sales channel relationships throughout the US, Europe, and into the rest of EMEA and Asia.

"Everyone hates being out of wireless touch when in-doors or underground," commented James Raby, Investment Manager at SEB Venture Capital. More and more wireless services and network providers are offering greater connectivity to consumers across new pieces of spectrum, a trend we predict will only accelerate. Zinwave leads the way in providing price competitive solutions today that will further enable building owners to ensure the future availability of all these services while also removing their concerns about the risks of future compatibility and capital. We are pleased to be able to support its continued product range growth and sales expansion into the largest US and Asian markets with this new fundraising."

Commenting on GP Bullhound, Jonathan Paget, CEO, said "we were impressed with the work of GP Bullhound. They prepared the company well and ran a very tight and focused process. Throughout the process the quality of the advice given and the commitment to the task at hand was first class."

This fundraising with SEB Venture Capital, Atlas Venture and Scottish Equity Partners confirms GP Bullhound's position as the #1 European Boutique Technology Investment Bank.

GP Bullhound is pleased to announced that it has been shortlisted by M&A Magazine for the Boutique of the Year Award 2008. The awards whose headline sponsor is investment bank Landsbanki, recognise the achievements of the most active deal makers and will take place on 21st February at The Hilton Hotel, Park Lane, London from 7pm.

GP Bullhound, the research-centric technology investment bank, has moved into new offices on the 16th floor of One Maritime Plaza in San Francisco, California.

GP Bullhound Co-founding Partner Christian Lagerling commented: “We’re pleased to see the continued success and momentum of our research led cross border approach. This has enabled us to step up our US west coast commitment further, taking up a larger office for our expanding staff base at One Maritime Plaza, one of the most prestigious office addresses in San Francisco.”

GP Bullhound is proud to announce the strengthening of its software practise with the hire of Grant Worrell as a Director.

Prior to joining GP Bullhound, Grant was an Operating Partner for PE group Pegasus Capital Advisors and affiliate Manticore Partners. He was an Investment Banker at Lehman Brothers in London and New York where he worked on M&A and Equity Transactions in the Telecom, Media and Technology and Financial Institutions Groups. Grant graduated from The University of Cambridge with MA (Cantab) and BA (Hons.) degrees in Computer Science (with a focus in Mathematics).

GP Bullhound, the research-centric technology investment bank, today announces the completion of a US$38.5 million financing round for Kiala, the leading independent network of parcel collection points in Europe. The company works with about 4,500 local stores in the Benelux region, France and Austria to distribute parcels. It was created by Denis Payre, the co-founder of Business Objects, the Franco-US software company recently acquired by Germany\'s SAP for €4.8bn.

The funding comes from lead investor SEP (Scottish Equity Partners), an undisclosed hedge fund and existing investors. This funding will finance the company’s expansion in Spain and Russia, countries where the concept of parcel collection points is already established through the way in which the local post currently operates. The capital will also support the continued development of the new collection point networks in the UK and Austria.

Andrew Davison of SEP said: “Kiala is an exciting investment opportunity for SEP. The company’s President, Denis Payre is one of the most experienced European technology entrepreneurs and he heads a first class team with a track record in delivering on ambitious growth strategy.

Denis Payre, CEO Kiala, commenting on GP Bullhound\'s role, said: “GP Bullhound did a great job for us, during the process they had our best interests at heart at all times and had us covered at every turn. They delivered through the preparation, roadshow, negotiation and closing phases of the deal, always thinking one step ahead and consistently providing high quality advice. We are delighted with the outcome.

This fundraising represents the completion of GP Bullhound’s eighth announced private placement for the year, confirming its position as the #1 European Technology Private Placement house.

GP Bullhound, the research-centric technology investment bank, today announces the completion of a USD16 million financing round for Skinkers, the digital information broadcast leader.

The funding comes from lead investor Acacia Capital Partners, NewMedia Spark and the Skinkers management team. It will be used to further develop their enterprise-wide communication platform business, enhance their Live Notification Platform™ technology and bring to market LiveStation, the world’s first interactive global broadcast network for live television and radio.

Hitesh Mehta, General Partner at Acacia Capital Partners commented on the deal: “We are delighted to be part of the Skinkers story; we believe their innovative approach to the delivery of priority information gives them a unique position in the market. This financing will enable the experienced management team at Skinkers to exploit the market potential for the technology and build a world-class business.

Skinkers’ CEO, Matteo Berlucchi, commented on GP Bullhound’s role: “We worked with GP Bullhound back in 2003 for our seed round and have once again be delighted by the corporate finance advice they provided for our latest funding round. We believe their strong and personal relationships with the leading venture capital funds across Europe and the USA is unparalleled. Raising finance is never a simple affair and GP Bullhound has helped us navigate through this process with minimum fuss, enabling us to raise finance quickly and efficiently.

This fundraising represents the completion of GP Bullhound’s seventh private placement for the year, confirming its position as the #1 European Technology Private Placement house.

GP Bullhound is delighted to announce the strengthening of its franchise with the hire of Claudio Alvarez as an Associate.

Claudio has experience in the Equity Research field, and was previously a research analyst at Edison Investment Research covering small-cap IT Services, Mobile Content and Telecom Services companies.

London – September 27, 2007 – GP Bullhound, the research-centric technology investment bank, and Vitesse Media, the specialist publisher focused on growth businesses, announced the winners of the prestigious Investor AllStars awards for excellence in the venture capital sector at the fifth annual Investor AllStars awards ceremony last night at the Hilton Park Lane.

The inaugural winner of Jon Moulton's Triumph over Adversity Award was Paragon Group.

Mark Farmer, Eden Ventures won the VC Personality of the Year Award.

Eden Ventures and Kennet Partners won the Exit of the Year Award for the sale of Cramer Systems.

The special Outstanding Contribution of the Year Award was presented to Danny Rimer, Index Ventures.

Nearly 600 of the country’s leading entrepreneurs, venture capital professionals attended the awards ceremony sponsored by MTI, UK Trade & Investment, 3i, Private Equity Recruit, Millnet and Penrose Financial. Media support came from partners City AM and Business XL.

The compere for the evening was BBC News presenter Emily Maitlis and the keynote speaker and principal guest was Dr Steve Garnett, Chairman & Co-President EMEA of Salesforce.com, who drew on his vast knowledge and expertise to talk about the future of the European software industry.

A total of 10 awards were presented at the ceremony, which was preceded by a dinner. The winners were chosen by a distinguished panel of judges, comprising:

George Coelho, Partner at Benchmark Capital

David Holbrook, Partner at MTI Partners

Manish Madhvani, Partner at GP Bullhound

Sara Williams, CEO of Vitesse Media

Gail McManus, MD of PER Ltd

Ian Lobley, Partner at 3i

Derek Goodwin, Head of Global Entrepreneur Programme at UK Trade & Investment

Manish Madhvani of GP Bullhound and Sara Williams of Vitesse Media said: “Venture capital continues to make an invaluable contribution to the UK economy and is establishing a strong reputation for developing world-class growth companies. These awards recognise the investors who are driving innovation and entrepreneurship.”

The complete list of award winners for 2007 is:

Jon Moulton's Triumph Over Adversity Award

Paragon Group VC Personality of the Year

Mark Farmer, Eden Ventures Exit of the Year

Cramer Systems – Eden Ventures and Kennet Partners Outstanding Contribution of the Year

Danny Rimer, Index Ventures Venture Capital Fund of the Year

Index Ventures Venture Capital Trust of the Year

Octopus Private Equity International Deal of the Year: Safeguard/Sudbrook Private Investor Network of the Year

Hotbed Group Equity Gap Fund of the Year

North West Business Investment Scheme Service Provider of the Year

Kreos Capital

GP Bullhound is delighted to announce the strengthening of its Digital Media and Internet team, with the hire of Raphael Raingold as an Associate. Raphael will also be responsible for developing the French franchise. Raphael is joining from Merrill Lynch technology corporate finance team.

Raphael was previously an entrepreneur in 1999, when he set up one of France\'s leading domain name companies, Domainoo.com, after raising funds with Europatweb. The company was sold in 2003. He then gained experience in the wireless internet space through Wireless Partners. Following that, he joined the Merrill Lynch technology corporate finance team, where he worked actively on leading European technology deals.

GP Bullhound, the research-centric technology investment bank, today announces a second closing on the Series B financing round for Mirics Inc, a leading developer of chips used to receive TV and radio broadcast signals in mobile devices. Acacia Capital Partners joins the round taking the total raised up to $12 million, the initial investment was led by Intel Capital together with Pond Ventures.

Founded in 2004, Mirics has developed technology enabling a reconfigurable radio frequency tuner for use in mobile devices. Mobile phone handsets, notebook computers and other mobile devices increasingly incorporate radio and TV reception into their designs. Mirics technologies offer solutions to address challenges facing the fragmented nature of global mobile standards, improve energy efficiency, and meet portability demands of mobile devices.

Mirics’s CEO, Simon Atkinson, commented: “GP Bullhound provided the highest quality advice to us throughout a very well run fundraising process, further validated by their ability to bring Acacia on so quickly. The level of interest after announcing our first close was very high, GP Bullhound worked with us to select the right partner and we are delighted with the result. A large part of the reason we find ourselves in the great position we do is down to their excellent work. I wouldn’t hesitate to work with them again or recommend them to a third party.

London – August 6, 2007 – GP Bullhound, the research-centric technology investment bank and Vitesse Media, the specialist publisher focused on growth businesses, today announced the nominees for the prestigious Investor Allstars awards to celebrate excellence in the venture capital sector. The winners will be announced at the fifth Investor Allstars awards ceremony on September 26, 2007 at the Hilton, Park Lane.

The awards will be presented in ten categories, including Venture Capital Fund of the Year, Exit of the Year, Private Investor Network of the Year and VC Personality of the Year.

Jon Moulton of Alchemy Partners is sponsoring a new awards category in 2007 to be presented for the best survivor in the venture capital investment arena. Other sponsors include MTI, UK Trade & Investment, 3i, Private Equity Recruit, Millnet and Penrose Financial. Media partners include City AM and Business XL.

Nominees for the Venture Capital Fund of the Year include household names such as Index Ventures, the backers of Skype, Esprit Capital Partners, the backers of KVS and Benchmark Capital, the backers of eBay.

For Exit of the Year, the judges will select a winner from high profile contenders including Index Ventures for the sale of social music platform last.fm to CBS for a reported $280 million and Beringea and New Media Spark plc, for the sale of financial information service Mergermarket to the FT Group, a subsidiary of Pearson plc for £101 million.

The shortlist for VC Personality of the Year includes well-known names such as Simon Cook of Esprit Capital Partners, Philip Newborough of Bridges Ventures, Simon Cornwell of Amadeus Capital Partners, Chris Allner from Octopus Private Equity & Frederic Court of Advent Venture Partners.

The panel of judges comprises Wol Kolade, Chairman of the BVCA; George Coelho, Partner at Benchmark Capital; David Holbrook, Partner at MTI Partners; Manish Madhvani, Partner at GP Bullhound; Sara Williams, CEO of Vitesse Media; Ian Lobley, Partner at 3i, Gail McManus, MD of PER Ltd & Derek Goodwin, Head of Global Entrepreneur Programme at UK Trade & Investment.

For a full list of categories and nominees, please go to www.investorallstars.com Manish Madhvani of GP Bullhound and Sara Williams of Vitesse Media said: “Venture capital continues to make an invaluable contribution to the U.K. economy and is establishing a strong reputation for developing world-classgrowth companies. These awards recognise the investors who are driving innovation and entrepreneurship.”

For further information, please contact:

Penrose Financial

Kay Larsen

+44 (0)20 7786 4858

+44 (0)7747 631614



GP Bullhound

Cecilia Roman

+44 (0)207 101 7560

GP Bullhound, the research-centric technology investment bank, today announces the completion of a €3 million financing round for watAgame, the Danish company behind goSupermodel, a social networking game for teenage girls centred around fashion.

The funding will be used to launch goSupermodel in new markets and further develop the game. The investment was led by Accel Partners together with Vaekstfonden and Seed Capital.

watAgame’s CEO, Henrik Riis, commented:

“The goSupermodel community recently reached 1 million users and is now racing towards 2 million. With such rapid growth we decided to seek funding so that we can hire new people, launch in other markets and expand the features available in the product. We chose Accel because they are a leading international venture capitalist firm with extensive knowledge of our space and an extremely valuable network internationally, crucially in the US.

“We have been very happy working with the GP Bullhound team. They found the perfect VC partner for us and did so within the given timeframe. They get my full recommendation!

This fundraising represents the completion of GP Bullhound’s fifth private placement for the year, confirming its position as the #1 European Technology Private Placement house.

GP Bullhound, the specialist technology investment bank, today announced the acquisition of Touchstone Securities Limited. Antony Northrop, founder and Managing Director of Touchstone has been appointed a Partner at GP Bullhound. Prior to establishing Touchstone, Antony was a Partner at Lazard Brothers & Co. Limited.

Touchstone Securities specialises in M&A and corporate finance advice primarily in the Telecoms and Media sectors and specifically in the Satellite sector. Clients have included SES Astra, Inmarsat, SES Global, 3i Deutschland, OHB Technology AG, Streets online and Nevada Telecom. Touchstone has advised on over 25 transactions in the satellite sector over the past ten years and across the entire business has advised on transactions with a value in excess of US$ 10 billion.

The combination of Touchstone and GP Bullhound is a positive move for both companies. Touchstone gains access to a North American presence and a high quality technology research effort while GP Bullhound secures more experience in larger and publicly quoted company M&A. We see the combination as being highly positive to both sets of clients and look forward to working together over the coming years\".

GP Bullhound, the research-centric technology investment bank, today announces the completion of a $10 million financing round for Mirics Inc, a leading developer of chips used to receive TV and radio broadcast signals in mobile devices. The investment was led by Intel Capital together with Pond Ventures.

Founded in 2004, Mirics has developed technology enabling a reconfigurable radio frequency tuner for use in mobile devices. Mobile phone handsets, notebook computers and other mobile devices increasingly incorporate radio and TV reception into their designs. Mirics technologies offer solutions to address challenges facing the fragmented nature of global mobile standards, improve energy efficiency, and meet portability demands of mobile devices.

This fundraising represents the completion of GP Bullhound’s third Semiconductor deal in 2007, following the €20m raise for Nanoradio AB in June and the sale of Nordic Semiconductor’s Data Converter Unit to Chipidea in February. It also represents GP Bullhound’s ninth transaction for the year, confirming our position as the #1 European Technology Private Placement house.

Mirics’s CEO, Simon Atkinson, commented:

“GP Bullhound provided the highest quality advice to us throughout a very well run fundraising process. A large part of the reason we find ourselves in the great position we do is down to their excellent work. I wouldn’t hesitate to work with them again or recommend them to a third party.

GP Bullhound, the research centric technology investment bank, today announces the completion of a £2,000,000 Series B financing round for Handmade Mobile Entertainment Ltd, which devised and launched Flirtomatic, the cross-platform flirting service. The financing was raised from both existing and new investors including Doughty Hanson and Seraphim Capital. Flirtomatic is the UK’s first online flirting service, offering an integrated service across both the web and mobile. GP Bullhound also advised on the Series A financing in 2005.

Avi Azulai, the former co founder of iTouch, and Chairman of Handmade Mobile comments \"We have now worked with the GP Bullhound team on two very successful rounds of financing and once again have been delighted with their sector knowledge, impressive network and considerable value add."

In the UK alone Flirtomatic now boasts over 100 million page views per month across both the web and WAP and a total registration base of over 380,000. Mark Boggett, Investment Director, Seraphim Capital comments: “Our research demonstrated that, based on current monthly page impressions, Flirtomatic is already one of the top ten mobile internet sites in the UK.

Usage levels on the service are currently four to five times higher than industry norms, with mobile users visiting the site on average more than 8 times a day, and web users spending longer on Flirtomatic than main stream social networking sites such as Facebook.

GP Bullhound, the research centric technology investment bank, today announces the completion of a €20,000,000 financing round for Nanoradio AB, a leading supplier of WLAN semiconductors for cell phones and portable consumer electronics. The investment was led by Norwegian firm, Ferd Venture, together with Nordic Venture Partners, Innovacom, Teknoinvest and Industrifonden.

This fundraising represents the completion of GP Bullhound’s second Semiconductor related deal in 2007, following the sale of Nordic Semiconductor’s Data Converter Unit to Chipidea in February.

Nanoradio’s CEO, Par Bergsten, commented:

“We have been impressed with GP Bullhound’s understanding of our business, international network of VCs, responsiveness and commitment in getting the deal closed in a short period of time. GP Bullhound has proven to be a well-known name in the VC community with a good reputation which has clearly contributed to the impressive result."

Founded in March 2004 and headquartered in Kista, Sweden, Nanoradio AB is a semiconductor supplier targeting the cellular handset and consumer electronics market. Nanoradio has developed a state-of-the-art technology for WLAN semiconductors, with a focus on the critical success factors for cell phones and portable electronic devices, namely, power consumption, physical size and total cost for the customer. Nanoradio has a team of 70 people with extensive experience from the cellular and wireless industry.

London, March 2007: Investment Bank, GP Bullhound have announced the launch of their 2007 Media Momentum awards held in association with Sky, Barclays and Olswang.

The awards celebrate & profile the innovative companies that are the UK’s next Youtube, MySpace or Google.

The 2006 event saw 150 of the most influential decision makers from the media industry attend the invitation only event where the 50 fastest growing media and new media companies were announced. The Top 50 companies in the 2006 list successfully grew their revenue base from £150m to £600m in a 2 year period, media coverage for the winners was extensive with coverage in publications such as The Times, The Independent, Media Week, New Media Age, Revolution and Yahoo.

To qualify for the awards, media companies will be ranked according to annual revenue growth rates between 2003-2005. Latitude, the UK’s leading search engine marketing agency, emerged in pole position in the 2006 awards with a reported revenue growth rate of 3659%.The remaining top 5 companies in descending order of growth where Inspired Broadcast Networks, iFone, Aura Sports and Optimad Media Systems.

The announcement of winners and the top 50 companies will take place at the Awards Dinner at Sketch restaurant on 27th March 2007.

The judging panel each year also selects 5 “Media Momentum Stars” – the companies they believe have the most exceptional growth potential. The panel of industry experts includes Anil Hansjee, Head of M&A Google Europe, Bishop, President of Miva and Co Founder of Espotting and Avi Azulai Co-founder and Ex-Managing Director of iTouch, In 2006, the Judges award went to Betfair who operates the world’s leading betting exchange, for their innovative system that has revolutionised gambling.

For more information please contact:

Cecilia Roman

Head of Events - GP Bullhound Ltd

T:+44 (0) 207 101 7560

email:cecilia.roman@gpbullhound.com

GP Bullhound, the specialist technology investment bank, has acted as sole advisor to publicly-quoted Nordic Semiconductor ASA on the sale of its Data Converter Business Unit to Portugal-based Chipidea. The transaction successfully closed on Tuesday 13th March 2007. Hans-Petter Hauge, Nordic Semiconductor’s CFO, commented that “we have been very pleased with GP Bullhound’s close involvement in this transaction. GP Bullhound’s global network of semiconductor companies ensured that we found a buyer with an optimal fit as well as provide a stimulating working environment for the team.

The acquisition of this business further strengthens Chipidea's position in the data converter market and adds a significant catalogue of IP to what is already the industry's widest, end-to-end, analog and mixed-signal portfolio. The Data Converter Business Unit of Nordic Semiconductor is a long-term technology leader in data conversion IP products for in-house projects, third-party ASIC designs, and standard products.

The designs are leading-edge analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) for use in areas such as digital photography, wireless networks and video. The sale of Nordic's Data Converter Business Unit will further strengthen Nordic Semiconductor's focus on radio frequency (RF) components for the wireless personal area network, primarily in the 2.4GHz frequency band including both proprietary and Wibree radios. “The sale represents another important step in Nordic Semiconductor’s transition from being a provider of design services and IP to a leading European fabless semiconductor supplier of standard RF components," according to Nordic CEO, Svenn-Tore Larsen.

GP Bullhound is proud to announce the strengthening of its semis practice with the hire of Paul Rutherford as a Director.

Paul offers our clients a valuable mix of both industry and financial experience having started out his career at Cadence as a chip design engineer, was later in charge of product dev at Alphamosaic ultimately sold to Broadcom and most recently was a highly ranked semis equity research analyst at ABN AMRO.

GP Bullhound is delighted to announce the strengthening of its Internet and Digital Media practice with the hire of Frank Schmitt as an Associate.

Frank was previously a technology investment banker at Arma Partners and UBS Investment Bank in London where he worked actively on a number of technology transactions in the IT Services, Software and Internet and Digital Media space.

GP Bullhound, the specialist technology investment bank, today announced the acquisition of certain assets from Rogere Capital Limited and Rogere Industries. The transaction also includes the appointment of Matt Rogers as a Partner at GP Bullhound.

Matt is the founder and Managing Director of Rogere Industries and was prior to that the head of Credit Suisse’s European Technology Private Placement business. He has extensive experience in providing fundraising and M&A advice to technology companies in the UK, continental Europe, the US and Israel. In the past few years Matt has closed more than 30 transactions with an aggregate value of more than $1.5bn.

Matt Rogers’ previous clients include Cambridge Silicon Radio, Gemplus and Accenture. Recent fundraising transactions include Optasia Medical ($5m), VirtenSys ($13.5m), Colibria ($10m) and NexWave Solutions ($10m). Recent M&A transactions include the buyside advice and associated fundraising for Napatech’s acquisition of Xyratex assets, the sale of Vidus to @Road ($55m) and DME’s undisclosed sale to ACNielsen (VNU Inc).

“Combining my business with the market leading TMT corporate finance platform that GP Bullhound has built makes a lot of sense. It provides me with a great opportunity to leverage GP Bullhound’s technology research product and their US network as well as benefit from the transactional experience of the rest of the team,” says Matt Rogers. “Together we have a business with an unparalleled track record with an even stronger offering for our clients”

Hugh Campbell comments “we are delighted that a highly successful TMT corporate financier such as Matt has decided to join us. Since 2002 we have been impressed by the high quality of his mandates, his industry-leading close rate and most importantly the reputation he has built up with both entrepreneurs and venture capitalists in the European technology sector. We look forward to closing deals together in 2007.”

GP Bullhound, the specialist technology investment bank, has acted sole advisor to Oslo, Norway based Birdstep Technology ASA in its acquisition of Silicon Valley, US based Aramova Inc. The transaction successfully closed on Friday January 12th 2007. The acquisition further reinforces Birdstep’s leading market position as a seamless connectivity and mobility client software provider by adding stronger relationships with major European mobile operators.

Aramova also adds leading edge mobility software technology and an R&D centre in San Francisco, California. “The market for connectivity and mobility solutions has become a mass-market opportunity, and the acquisition of Aramova Inc. strengthens Birdstep’s market leading position in Europe and enhances our North American ambitions, according to Petri Markkanen, CEO of Birdstep Technology. Mr. Markkanen further commented that “We have been very pleased with GP Bullhound’s close involvement in this transaction. Beyond identifying the opportunity, GP Bullhound’s in-depth understanding of the communications software markets globally and first class execution ensured an efficient and smooth acquisition process.

GP Bullhound, the specialist technology investment bank, today announces the completion of a €10,000,000 financing round for Passado.com, one of Europe’s largest social networking sites. The oversubscribed funding round was lead by US based Tudor Investment Corporation, with continued participation from existing investor DFJ ePlanet Ventures (who have also backed significant and successful companies such as Skype and Baidu). This investment represents one of the largest in a European social networking business.

Headquartered in London, Passado offers a rich pan-European social networking service with blogs, photo sharing and personal websites in Germany, France and Spain. The UK site will be formally launched in early 2007.

Passado differentiates itself from other social networking sites by offering a ‘trusted community’ of adults connected to each other through their former schools, universities, workplaces or through their hobbies and interests.

With over five million registered users, the investment will allow Passado to accelerate its growth in Europe via new product initiatives, marketing and new site launches in the UK, Russia and Italy.

This transaction is GP Bullhound’s 10th successful completion in 2006, representing over $150m of capital raised for companies and returned to shareholders in the European technology and digital media markets so far this year.

GP Bullhound, the specialist technology investment bank, today announces the completion of a financing round for spodradio, the first worldwide radio and podcast hub for mobiles. The company raised $10 million of Series B funding from Benchmark Capital Europe, the top-tier venture capital firm behind eBay, Betfair and Bebo, together with Baytech Venture Capital. Baytech is a Munich-based VC firm which backed spodradio in Series A funding with $2.4 million in 2005.

spodradio was exclusively advised by technology investment bank GP Bullhound. Mikko Linnamäki, CEO of spodradio, said: "the GP Bullhound team’s strong knowledge of mobile communications combined with their investor network enabled us to run a very swift and competitive process. We regard them as one of the leading advisers in Europe in this sector."

The funds will be used to accelerate spodradio’s expansion into international markets and help develop new services, establishing spodradio as the world’s leading provider of mobile radio applications.

By intelligently organizing an ecosystem of content, radio providers, mobile operators and handset manufacturers, spodradio exploits the gadget consolidation trend. It enables the mobile phone to become the ultimate music device with a total radio experience anywhere and anytime, including live interactive radio, podcasts, personalized radio and on-demand radio services.

spodradio, developed by Liquid Air Lab, won the ‘Best of Show’ award last month at the Podcast and Portable Media Expo in California and was awarded the German Multimedia Award (DMMA) for the ‘Best Mobile Application’ earlier this year.

This transaction is GP Bullhound’s 9th successful completion in 2006, representing over $140m of capital raised for companies and returned to shareholders in the European technology and digital media markets so far this year.

GP Bullhound the specialist technology investment bank, today announces that it has advised Press Holdings, which is controlled by Sir David and Sir Frederick Barclay, on its sale of the leading digital publishing group Handbag.com Ltd to The National Magazine Company, Hearst Corporation\\\'s principal business in the UK.

The Handbag.com Ltd network generates over 30 million page impressions per month and has been attributed as the leading force in encouraging women’s magazine advertisers to use the internet for display advertising. The Handbag group publishes four female targeted websites; getlippy.com aimed at 18-24 year old women; allaboutyou.com for 35+ women; gomamatoday.com a specialist pregnancy and birth site; and the core website handbag.com itself.

GP Bullhound and GP Technology Partners, the technology investment banking group, today announces that it has advised Denmark based AudioAsics, on its sale to Analog Devices Inc. (NYSE: ADI). AudioAsics was founded in 2003 as a privately held company in Roskilde, Denmark, with funding from Danish investors Vaekstfonden, SEED Capital Denmark, and Hvista.

AudioAsics makes low-power microphone and audio signal conditioning technology. Analog Devices said the acquisition will help it develop its low-power audio capabilities and expand its presence in the Nordic and Eastern European regions. ADI paid approximately $19 million in cash at the closing in exchange for all of the outstanding shares of AudioAsics. In addition, upon the achievement of certain milestones following the closing, ADI would be obligated to pay up to an additional $8 million.

Read the Analog Devices press release here: http://www.analog.com/en/press/0,2890,3%255F%255F110802,00.html

GP Technology Partners and GP Bullhound, the technology investment banking group, today announces that Stellent, Inc. (Nasdaq: STEL), the global provider of content management software, has agreed to acquire US/UK based SealedMedia, the Enterprise DRM software vendor for $15m. SealedMedia has an enviable customer base of Fortune 500, Global 1000 and FTSE 100 companies, as well as governments and agencies around the world. Hundreds of thousands of users are able to receive sealed emails and documents, thanks to SealedMedia.

The company was founded in 1996 and was funded by investors including 3i, Crescendo Ventures and Pond Ventures. The acquisition will position Stellent as the leader in the content security market.

Read the Stellent press release at http://www.stellent.com/en/news/releases/corporate/P88011389

GP Bullhound, the specialist technology investment bank, announces that it has completed the sale of the entire portfolio of unquoted investments and certain restricted quoted investments of Amerindo Internet Fund PLC (“AIF) and Emerging Technology Portfolio (“ETP) to funds managed by Saints Capital and Willowridge Incorporated for cash. AIF and ETP had investments in a large number of unquoted technology businesses covering sectors such as communications software, IPTV, online advertising and Wi-Fi infrastructure.

Saints Capital, based in San Francisco, is a leading global acquirer of direct venture capital and private equity investments on a secondary basis. Willowridge Incorporated, is managing its fourth fund dedicated to purchasing limited partnership interests in venture capital, buyout, and other private equity funds as well as secondary direct investments.

GP Bullhound, the specialist technology investment bank, today announces the completion of its third private placement of 2006, a £3.5m financing round for Blackbay, a provider of real-time mobile worker solutions.

Blackbay has operations in London, New Zealand, Australia and Singapore and raised the development capital from Close Venture Management. The capital raised will be used for product development and to fund the company’s sales and marketing drive.

Blackbay is a market leader in the rapidly growing enterprise mobility market, delivering mobile data solutions for over 12 years to a growing list of premium clients. Current customers include Parcelforce, Dyson, and Konica Minolta.

Managing Director of Blackbay, Larry Klimczyk, commented “The professionalism and speed to deliver in our complex cross- border transaction, places GP Bullhound as a truly ‘trusted advisor’ for our business.

GP Bullhound, the specialist technology investment bank, today announces the completion of a financing round for TXT4, a provider of automated advertising response management. Oxford Capital Partners and Noble Fund Managers have invested following an investment from the Capital Fund in December 2005.

TXT4 is focused on effectively managing advertising response: extracting the important elements of a consumer's response; validating, formatting and enriching this data; and passing it securely to their clients. The London-based company was founded in 2002 by James Critchley and the investment will enable the company to grow sales and marketing as well as expanding in mainland Europe.

Tim Carrigan, CEO at TXT4 commented "We have been impressed by the time and effort that senior Partners at GP Bullhound have committed to getting this deal closed. We are looking forward to working again with them in the future."

Stuart Nicol, Investment Manager at The Capital Fund, commented: “We have now invested in GP Bullhound\'s clients on more than one occasion. Due to their ability to both source high quality technology dealflow and work tightly with their clients through to completion we regard them as one of the leading technology advisers in the venture capital market. We look forward to doing more deals with them in the future.

GP Bullhound, the specialist technology investment bank, today announces that Oracle Corporation (Nasdaq: ORCL) has entered into an agreement to acquire Sweden-based HotSip AB. HotSip is a provider of telecommunications infrastructure software. GP Bullhound acted as exclusive financial advisor to Hotsip in the transaction. "The addition of HotSip's technology will allow Oracle to build on its leadership in middleware and in carrier-grade communications infrastructures," said Thomas Kurian, senior vice president, Oracle Server Technologies.

HotSip is a provider of telecommunications infrastructure software and Session Initiation Protocol (SIP) enabled applications for IP telephony, presence, messaging and conferencing on new converged networks. With the addition of HotSip's technology, Oracle will be better able to build on its leadership in middleware and in carrier-grade communications infrastructures. Hotsip was founded in 1999 by Jens Lundström and Johan Liseborn. Among Hotsip's customers are: TeliaSonera, Telenor, Ericsson, HP and Nokia.

GP Bullhound, the specialist technology investment bank, today announces the completion of a financing round for Apertio, the leading independent provider of subscriber-centric networks. The $30 million Series B funding round was closed with existing investors: Add Partners, DVC Deutsche Venture Capital, Eden Ventures, Motorola Ventures and The Tokarz Group. T-Mobile Venture Fund, managed by T-Venture, the venture arm of Deutsche Telekom, also joins the round after the adoption of the Apertio One-NDS (Network Directory Server) by T-Mobile.

This investment, secured late last year, represents one of the largest funding deals of 2005 in the European technology sector. It delivers the catalyst for Apertio to fulfil the strong global demand for its unique Apertio One network infrastructure software, and provides a clear path to a full Initial Public Offering.

Apertio offers a unique alternative to the high cost and complexity inherent in telecoms' core network infrastructure, delivering proven reductions in capital and operational cost by as much as 50 percent, increasing revenue potential by slashing new service roll-out time from 12 months to 12 weeks, and building the foundation for convergence into fixed and mobile networks today.

“Apertio has had a tremendously successful 2005, more than doubling revenue, and securing over 10 new operator customers, said Paul Magelli, CEO at Apertio. “This investment round is proof of the clear market demand for our Apertio One portfolio, and a reflection of our investors faith in our continued rapid growth. I am particularly pleased to welcome T-Mobile Venture Fund as a new investment partner, following our success with T-Mobile in Europe.

Apertio customers already number among the largest and fastest growing telecommunications operators in the world, and include: T-Mobile, Orange, Vodafone and AIS.

GP Bullhound the specialist technology investment bank, today announces the completion of a financing round for Handmade Mobile Entertainment Limited.

The company was formed by a high profile management team including Avi Azulai, co-founder of iTouch, one of Europe’s leading mobile entertainment companies which was sold earlier this year to Forside.com for £180m, and Mark Curtis, a former managing partner of Fjord. Handmade Mobile provides consumer applications for mobile phones and will aim to capitalise on the shift in value creation in mobile data services from the corporate to the consumer market. Handmade’s first commercial service is Flirtomatic – an entertainment service that is available on mobile phones and over the web.

Latest figures from Mintel estimate that the mobile content industry alone will be worth £740 million by the end of the year, a substantial increase from £40 million in 2002. The financing for the company was provided by leading venture capital firm Doughty Hanson Technology Ventures.

Avi Azulai, commented:

“GP Bullhound was key to closing this transaction. The team's network of international VC's, structuring expertise and commitment was first class. The best advisors I have used in this sector.

Ivan Farneti, a partner at Doughty Hanson Technology Ventures, added:

“Handmade’s innovative technology allows every phone, not only the most advanced smart phones, to have a very rich media experience. Handmade Mobile’s model is validated and it works worldwide. Big brands and top UK media partners have already shown positive interest in developing business models with Handmade Mobile.

Three leading Nordic venture capital companies have invested $5.3 million in the software company TFS Technology, a leader in Identity and Access Management for large companies with stringent security requirements.

Uppsala, Sweden and Herndon, VA - October 6, 2004. Northzone Ventures, IT Provider and Eqvitec have signed an agreement to invest $5.3 million in TFS Technology.The investment is one of the largest thus far in Swedish IT industry in 2004.

"We look forward to developing TFS’ significant business potential in the international IT security market. TFS has delivered systems to several of the world’s largest banks and institutions in both the USA and Europe. TFS’ customers are very pleased with the user-friendly core product, BoKS™, which delivers Identity and Access Management solutions to primarily large company’s system environments. TFS is now well positioned for a global sales expansion," comments Pär-Jörgen Pärson, Chairman of the Board and Partner in Northzone Ventures.

TFS’ business concept is to offer solutions that enhance, simplify, and protect companies and organizations’ existing infrastructure. TFS solutions for administration and security in a heterogeneous Unix and Linux environment have aroused a great deal of interest and are in operation today at several of the world’s largest companies.

Identity and access solutions (Identity and Access Management) are one of the fastest growing areas within the IT sector. IDC estimates the market for this sector will grow 15 percent every year, and that sales of products and services will pass the $5.1 billion mark in 2007.

"This investment means that we receive both the capital and entrepreneurial experience that will make it possible for us to expand our operations in a number of strategic markets. We also receive a strong financial footing, which is a requirement for working with the world’s largest companies," said Krister Fransson, CEO for TFS Technology.

Bullhound Ltd acted as a financial advisor to TFS Technology during this investment phase.

Zensys secures a $16m round for market development and R&D, led by Bessemer Venture Partners.

GP Bullhound today announces the completion of its 4th successful transaction of 2005 and its 36th transaction since its foundation in 1999. The specialist investment bank arranged a US$16 million private placement for Zensys, a leading provider of wireless networking technology. The funding round, which is one of the largest done for a European company in the past 12 months, was led by Bessemer Venture Partners, the longest-standing U.S. venture capital operation with more than US$1bn under management. Other participants in the round include Zensys’ first-round venture capital partners, Palamon Capital Partners, and Vaekstfonden, the Danish growth fund.

“This third round of funding is a strong statement about the confidence investors have in our product, vision and team and a validation of the success we have achieved to date, said Per Nathanaelson, Zensys’ President and CEO.

“We are investing in Zensys based on its proven and widely accepted wireless home control technology, as well as its ability to secure support throughout the industry and continually produce more efficient and more cost-effective Z-Wave chips, said Bob Goodman, managing partner at Bessemer Venture Partners. “Zensys is clearly a company poised for significant continued growth, he added. Mr Goodman is joining the Zensys board of directors as his first European board position.

GP Bullhound acted sole advisor on the transaction, further demonstrating the firm’s success in driving cross-border technology private placements and its strong commitment to the US market.

Mtivity poised for Growth after Securing £1.5 million through Albany Ventures and The Capital Fund.

GP Bullhound today announces the completion of its 3rd successful transaction of 2005 and has closed over 30 transactions since its foundation in 1999. The technology investment bank arranged a £1.5 million private placement for Mtivity Ltd, a leading provider of marketing management software to companies and media agencies. The funding round was led by Albany Ventures, the specialist earlier stage technology investor, and included follow on investment from The Capital Fund, a £50 million venture capital fund which backs fast-growing, small and medium-sized enterprises in Greater London.

Mtivity’s new chief executive, Patrick Kremer said:

“We are delighted to have secured this important capital injection from Albany Ventures and The Capital Fund. This is the second time that I have worked with the team at GP Bullhound and once again I have been delighted by the high quality of the investors they introduced, their skill at issue resolution and their commitment to driving all parties towards a successful closing.

Founded in 2000 by Matthew Atkinson, a serial entrepreneur, Mtivity has rapidly established itself as a leading player in the emerging field of Marketing Resource Management. The company’s innovative on-demand software provides simple, cost-effective ways for marketing departments and their agency and print suppliers to collaborate on campaigns and improve brand control.

Hugh Campbell, Partner as GP Bullhound said:

“We have been working closely with Mtivity for nearly two years during which time we have secured two rounds of funding, initially with The Capital Fund and more recently with Albany Ventures. Furthermore, I am delighted that our introduction to Patrick Kremer has been beneficial with his recent appointment as Chief Executive.

GP Bullhound Ltd acted as a financial advisor to Mtivity during this investment phase.

TECHNOLOGY RESEARCH AND ADVISORY FIRMS GP CAPITAL AND BULLHOUND MERGE; COMBINATION CREATES LEADING SOFTWARE AND SERVICES FOCUSED INVESTMENT BANK

Bullhound and GP Capital today announced a merger that will create a research and advisory house focused exclusively on the software and IT services sector. The combined company will be named GP Bullhound Limited and will provide technology research, private placement and M&A advisory services to entrepreneurs, venture capitalists and institutional investors.

GP Bullhound provides technology entrepreneurs with a more effective way to access venture capital, enhance shareholder value and secure a successful exit. Furthermore, GP Bullhound provides investors and corporate buyers with unique access to the most interesting venture and public market investment opportunities in Europe and North America. “Entrepreneurs and investors are looking for an advisor who has a true understanding of their market. Our singular focus on software and IT services make us a valuable partner said Per Roman, co-Founder and CEO of Bullhound Ltd. The entrepreneurial team has injected a breath of fresh air into the corporate finance sector and is poised to take advantage of improved valuations for technology companies which is driving both entrepreneurs and venture capitalists back into the market. “To be effective as an advisor it is our belief that industry knowledge, access and transaction expertise are extremely important.

The seniority and experience of the combined team provides a fantastic platform for further growth? said Hugh Campbell, co-Founder of GP Capital. The merger will also see the appointment of a new Chairman. Martin Smith joins GP Bullhound with a 30 year career history dedicated to Investment Banking. Martin was a founder and Chairman of Phoenix Securities and following the sale of Phoenix Securities to Donaldson, Lufkin & Jenrette, he became Chairman of their European Investment Banking Group. Current roles include Deputy Chairman of New Star Asset Management and being Chairman of English National Opera. Martin Smith added: “I’m very excited to be joining such a dynamic company. GP Bullhound has shown they have great potential and I am looking forward to helping extend their presence in this niche area of investment banking.

Current and future clients of GP Bullhound will benefit from access to:

*Software and IT services research with particular emphasis on communications, security, entertainment and new media

*Proven service in European venture-backed private placements

*Relationship and knowledge driven approach to technology M&A

*Valuable IT-focused CEO/CIO contacts and investor network in Europe and the USA

*Innovative industry events such as Investor Allstars and Media Momentum

In 2004 GP Bullhound completed 10 deals, 7 private placements and 3 M&A mandates. Already in 2005 the firm has completed two transactions.

Kingston Communications (HULL) PLC today announces the acquisition of Technica UK Limited, a leading supplier of network storage services in the UK. Technica is one of the UK’s largest independent storage consultancies. It employs a team of 30, who work with key strategic partners to provide a range of specialist services including analysis, design, implementation and management of customers’ storage solutions.

Technica has built a strong relationship with the Omnetica Group, recently acquired by Kingston, and as an independent consultancy, has Partner relationships with leading Storage Technology vendors, including EMC, Dell, HDS and Veritas. The initial consideration of £3.5 million will be satisfied by the payment of £2.1 million in cash with the balance through the issue of 1,986,779 new shares in Kingston. Additional consideration, up to a maximum of £3.0 million, is payable based on future performance over the two years to March 2007. Application has been made for the shares to be listed.

Commenting on the acquisition, Malcolm Fallen, Chief Executive, said: “The acquisition of Omnetica combined Kingston’s capabilities in carrier services with Omnetica’s skills in IP, network services and enterprise data. Technica now strengthens a key area for us, bringing a unique set of market leading skills in the fast growing UK storage market, thus deepening our business-to-business service proposition�.

GP Capital announced today the 50 fastest growing media companies in the UK at their Media Momentum awards, held in association with the Barclays Media Team and Olswang. Additional awards were given to 5 “Media Momentum Stars showing exceptional growth potential and management. Ranked according to annual revenue growth rates between 2002-2003, Espotting emerged in the pole position - as the fastest growing and most dynamic media company in the UK . The remaining top 5 companies in descending order of growth were Macrospace, Optimad Media Systems, Aura Sports and IBN.

Espotting also won one of the 5 “Media Momentum Stars awards, judged by a panel of industry experts including Robert Leach, the Head of Interactive BSkyB, Nick Horswell, the Founder of PHD and Jon Farley, the Head of the National Barclays Media SME team. Other winners in this category included, Inspired Broadcast Networks, Opera, Avanti and Zone Vison. The Judges choice for their overall winner of Media Momentum went to Inspired Broadcast Networks who has developed the world's largest digital jukebox with over 2.1 million tracks available.

GP Capital partner, Manish Madhvani, commented on the awards: “We are delighted to announce the top 50 as they not only represent the future of the UK media industry but are exciting examples of companies at the forefront of innovation. Despite a tough environment for the media sector, these 50 companies successfully grew their revenue base by an average of 149% in a 1 year period. It was interesting to see the list draw upon leading companies from areas as diverse as music album compilations and digital MP3 terminals to Chelsea FC’s media sales agency and leading international broadcasters. The results also indicate certain emerging industry sectors - internet advertising, and mobile content being ones to watch for 2005.

GP Capital today announces the completion of its 5th successful transaction of 2004. The specialist corporate finance advisor arranged one of the largest deals to date in the UK Wi-Fi sector. The financing for the spin-out of The Cloud™ from Inspired Broadcast Networks (Inspired) was provided by leading venture capital firms, Accel Partners and 3i.

George Polk, Managing Director of The Cloud™ said: "GP Capital was key to closing this transaction. The team’s structuring expertise & commitment to getting the deal done was first class."

GP Capital was engaged by Inspired to advise on the complex spin-out of The Cloud. This involved a number of distinct phases:

*Preparation of financial model and business plan with The Cloud’s senior team

*Project management of the due diligence process to ensure both 3i and Accel received the necessary financial, legal and commercial information at the right time

*Brokering the resolution of outstanding commercial and legal issues

*Expectation management of Leisure Link, Inspired’s parent, as well as their financial backer, Henderson Private Equity.

*Completion of two key legal documents; firstly the asset transfer agreement which details the assets, people and IP that spun out of Inspired; and secondly the

*commercial agreement which articulates the ongoing terms between The Cloud and Inspired.

*Corporate tax structuring with PwC to ensure that the corporate structure adopted by The Cloud provided Inspired with the most tax-efficient solution. The final structure required Inland Revenue approval.

*Personal tax structuring for management alongside PwC

Luke Alvarez, Co-CEO of Inspired said: "Brokering a deal between three parties with different agendas is never an easy task. GP Capital has had to wear many hats during this transaction and struck the right balance between playing the "honest" broker and fighting our corner. We have been impressed by the ‘street fighter’ attitude of the GP Capital team."

The Cloud™ delivers high speed, omnipresent, secure and affordable Internet access to the general public. It is Europe's largest, fastest growing and most sophisticated public access wireless LAN (also called "Wi-Fi") network. The Company also supports the highest levels of reliability and security, and constant upgrades that allow the network to run the latest generation of security, air interface standards and emerging applications like voice-over-WiFi.

Stuart Chapman, Technology Director at 3i, comments: "The Cloud is a perfect example of the kind of fast growing, dynamic company that we back as part of our venture capital business. We have enjoyed working with GP Capital over the last six months and have been impressed by their non-confrontational approach and responsiveness. We look forward to working with them on more deals in the future."

Finally, Hugh Campbell, Director of GP Capital added, "This deal required complex and precise structuring in order for the spin-out to be a success for all three parties. We are delighted to have been able to contribute to the launch of this new phase for The Cloud™."

lastminute.com plc, Europe's leading independent online travel and leisure group, today announces the acquisition of the lastminute.de group of companies in Germany, which comprise Anixe Systems GmbH, Avinex AG and Cinetic Internet Touristik GmbH to create the number one online travel brand in Germany. The acquisition values the lastminute.de business at €46.7 million (approximately £31.1 million) which will be satisfied by €24.0 million (approximately £16.0 million) in cash and the issue of 8,229,156 new shares in lastminute.com plc.

The lastminute.de group of companies offers online access to package holidays and flights to German consumers to all popular travel destinations including Spain, Turkey, The Dominican Republic, Cuba and Egypt. Passenger numbers in the business have been growing since 2001 and during the year to 31 December 2003 total transaction value (TTV) amounted to €49.3 million from 115,000 customers. The lastminute.de businesses achieved gross margins of approximately 16% in the last reported financial year to 31 December 2003. For the year to 31 December 2003 lastminute.de delivered €2.6 million of profit before tax and had net assets €0.2 million. During the current financial year lastminute.de has continued to materially grow the sale of package holidays to German customers. It is anticipated that for the financial year to 31 December 2004 TTV for German customers will amount to over €60 million.

In addition to the lastminute.de name, the acquisition includes the ownership of the domain name lastminute.tv, which will be initially licensed to a small independent tv operation. This operation is not being acquired as part of this transaction