High-profile Canadian Technology Entrepreneurs Join Ventures West’s Entrepreneur in Residence Program

Vancouver, BC, December 2, 2003 - Ventures West, one of Canada´s pre-eminent venture capital investors, announced that it has attracted three new high-profile technology executives to its Entrepreneurs In Residence (EIR) program.

The Ventures West EIR program is one of the largest in Canada. It provides experienced entrepreneurs who have outstanding track records as executives or technologists with the opportunity to join Ventures West as an interim step to their next venture. The EIR program provides these individuals with the network, resources and tools to identify emerging market and business opportunities. Entrepreneurs in the program become part of the Ventures West team and gain access to its operations and deal flow; they also provide specialized management counsel to Ventures West portfolio companies.

The new EIRs include:

Keith Bates, former CEO of Plazmic Inc., a leader in the wireless rich graphics market, which was acquired in 2001 by Research in Motion.

Alan McMillan, former CEO and Director of Think Dynamics, an automated system management firm, which was acquired by IBM in May 2003.

Laurie Wallace, co-founder, President and CEO of Datum Telegraphic, which was sold to PMC-Sierra in 2000 for over $200 million. Following the sale, Mr. Wallace was PMC-Sierra´s global Director of Marketing for wireless products.

They join current EIRs Bob Campbell, founder of the telecommunications group at MDSI and Dr. Michael Albin, former Vice President, Strategic Technologies for Applera Corporation.

"These three entrepreneurs exemplify the type of entrepreneurial talent that will lead the next generation of successful Canadian technology companies," said Robin Louis, President of Ventures West. "Our investment team and portfolio companies will benefit greatly from their proven entrepreneurial skills and expertise in creating and running successful businesses. We expect them to be important contributors to the investment of our new fund."

On November 3, 2003, Ventures West announced that they raised $158 million in a first close of their eighth technology fund. The fund will invest in early stage technology companies in the biotechnology, communication, energy technology and information technology sectors.

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