Ventures West Names David Berkowitz as Partner

November 12, 2003 - Vancouver, BC - Ventures West, one of Canada´s pre-eminent investors in early stage technology companies, is pleased to announce the appointment of David Berkowitz as Partner.

Mr. Berkowitz joined Ventures West in 1996 and leads the company´s energy technology investment team.

"David has become one of the most active and best-known energy technology investors in North America," said Dr. Robin Louis, President of Ventures West. "David has led investments in several energy technology investments and is sought out by investors, both in Canada and the U.S. because of his knowledge of the sector. His experience and expertise in the fuel cell and energy technology industry bring great value to Ventures West, our syndicate partners, our portfolio companies, and to the local technology community."

David currently serves as a director of the British Columbia Technology Industry Association, the Vancouver Enterprise Forum, Angstrom Power Inc., Cellex Power Products Inc., PolyFuel, Inc., Serveron Corp. and QuestAir Technologies, Inc. He is also an observer to the board of NxtPhase Corp.

Mr. Berkowitz earned a MBA from the Kellogg Graduate School of Management and a Bachelor of Applied Science from Queen´s University. He is based in the firm´s Vancouver office.

About Ventures West
Ventures West Management Inc. is a private venture capital investment group that is recognized as one of Canada´s pre-eminent investors in early stage technology companies. Since its founding in 1968, Ventures West has formed eight venture capital funds which total over $600 million and has invested in more than 125 companies. Ventures West has the people, the expertise, and the capital to help develop emerging technology companies into market leaders. Investments focus on four technology sectors: Biotechnology, Communications, Energy Technology and Information Technology. For more information, visit www.ventureswest.com.

For More Information:
Christine Ramsay
Ventures West Management Inc.
(416) 861-2280

David Berkowitz
Ventures West Management Inc.
(604) 688-9495