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CANDERA ANNOUNCES DEVELOPMENT AGREEMENT WITH IN-Q-TEL

Candera Inc, a developer of network-based storage management platforms, has announced that it has entered into a joint product development agreement with In-Q-Tel, a private, non-profit venture firm funded by the Central Intelligence Agency (CIA). Under the agreement, Candera and In-Q-Tel, which identifies and invests in cutting-edge information technology (IT) solutions that serve U.S. national security interests, will jointly develop and test enhanced security and management features for Candera's storage management platform that meet In-Q-Tel's strict requirements.

In-Q-Tel's decision to work with Candera was shaped in large part by Candera's keen focus on key issues in the storage management market today. "We believe that Candera is addressing issues that are essential to knowledge-based enterprises," said In-Q-Tel CEO Gilman Louie. "We value products that improve the efficiency of existing systems, provide enterprises with flexibility to select their storage products from multiple vendors, and enhance management capabilities. Financial services, health care and national security organizations are all seeking these advantages, plus added security. Candera's approach is right on target."

Candera is developing an enterprise-grade, fully integrated storage management platform featuring purpose-built hardware and optimized software that will deliver improved control and ROI to today's heterogeneous storage area networks. Through the partnership with In-Q-Tel, Candera will develop comprehensive and robust management and security features that meet strict government and enterprise standards. "The U.S. government's national security networks are mission critical. They must work, they must be efficient, effective and economical," said Louie. "Candera's solutions aim at our customer's key concerns. We have confidence in Candera's world-class team, which includes proven industry veterans with considerable experience at leading companies in the storage space." These companies include IBM, EMC, Brocade, Veritas, Sun, and Cisco.

"In-Q-Tel's commitment to work with us shows that Candera is on the right track," said Candera president and CEO S. "Sundi" Sundaresh. "Being in the trenches and engaged in dialogue with our customers regarding their real-world storage management pains is enabling us to build the right solution."

About Candera

Candera Inc, a development stage, stealth-mode company founded in 2000, is building the first of a new generation of systems that will enable customers to unleash the ultimate value of networked information storage. Candera is headquartered in Milpitas, Calif. and can be found on the Web at www.candera.com.

Contact: Mike Manuel, Voce Communications, 650-322-6966, mmanuel@vocepr.com.