Features - Financial Plays Of The Week:

CreekPath Systems CLOSES OVERSUBSCRIBED SERIES B FINANCING

CreekPath Systems, a leading software development company setting the pace for the market in delivering integrated Storage Resource Management (SRM) solutions, has announced the closing of its oversubscribed Series B financing with total commitments of more than $16 million, bringing the total raised funds to over $36 million.

CreekPath's second round of equity financing was led by top-tier investment firm New Enterprise Associates (NEA) with participation by A.G. Edwards Capital and original investors TeleSoft Partners and Sequel Partners. The capital raised in this round of funding will be used to expand the company's global sales and marketing efforts, as well as to increase product research and development to enhance the CreekPath AIM Suite.

"Our investment in CreekPath demonstrates our confidence in both the market opportunity for software that manages complex storage infrastructures for large enterprises and the exceptional quality of CreekPath's management team," said Mark Perry, general partner, New Enterprise Associates. "NEA believes the company is at an important inflection point in its growth. This is a great time to gain additional momentum towards becoming a global industry leader, and that is the purpose of this financing."

"CreekPath has quickly established relationships with key companies resulting in solid customer wins. These relationships combined with the oversubscribed Series B round validate the CreekPath AIM Suite as the preferred integrated Storage Resource Management solution," said Chris Redmond, managing director, A.G. Edwards Capital.

"CreekPath has addressed the critical business problem of escalating storage management complexities and decreasing budgets by developing an advanced, active storage resource management solution in the AIM Suite," said Dennis Grant, Chairman of the Board, CreekPath Systems. "Our ability to attract top-tier investors despite challenging market conditions is a strong testament to our ability and commitment to delivering real value to our customers in an area of significant importance."

CreekPath's software Suite reduces capital and operational expenditures through an integrated, policy-based infrastructure. The CreekPath AIM Suite includes the AIM Platform and CreekPath Process Automation Modules. This solution is the industry's first storage management solution that incorporates policy-based management, as well as workflow scenarios across a heterogeneous environment.

About CreekPath Systems

CreekPath Systems is a software development company leading the market in delivering Storage Resource Management (SRM) solutions. CreekPath develops an integrated storage management platform for the global enterprise that reduces capital and operation expenses, while leveraging the complexity of evolving storage infrastructures. The components of the CreekPath AIM Suite consist of the CreekPath AIM Platform and the CreekPath Process Automation Modules. This Suite provides policy-based, process-driven enterprise storage management with policy enforcement for safe automation. For additional information, visit the CreekPath Web site at www.creekpath.com.

About New Enterprise Associates (NEA)

NEA is a leading venture capital firm investing in information technology and healthcare companies. Practicing classic venture capital for over 20 years, NEA focuses on early stage investments, playing an active role in assisting management to build companies of lasting value. With $5 Billion under management, NEA's experienced management team has invested in over 500 companies, of which more than 135 have gone public and more than 150 have been acquired. NEA has offices in Menlo Park, California, Reston, Virginia and Baltimore, Maryland. For additional information, visit www.nea.com.

About AG Edwards Capital

AG Edwards Capital is a private equity firm affiliated with St. Louis-based brokerage firm AG Edwards & Sons Inc. AG Edwards Capital manages approximately $230 million for its limited partners, made up of high net worth individuals and institutions. For additional information, visit www.agedwards.com.

About TeleSoft Partners

TeleSoft Partners, www.telesoftvc.com, is a venture capital firm focused on information technology and communications companies. With $625+ million under management, TeleSoft's principals have invested in 48 portfolio companies, including Bombay Cellular (Hutchison Max), Catamaran (Infineon), Cerent (Cisco), ConvergeNet (Dell), Kymata (Alcatel), Lara (Cypress), Omnipoint (VoiceStream/Deutsche Telekom), OSI (Agilent), Promatory (Nortel), Versatile (Vitesse), and VxTel (Intel).

About Sequel Partners

Sequel Partners, a Colorado venture capital firm, specializes in early-stage funding for technology businesses. Sequel manages $410 million in capital, and invests in information technology, telecommunications and life sciences companies, primarily in the Rocky Mountain region. The firm's investors include leading pension funds, corporations, foundations, university endowments and entrepreneurs from the United States, Japan and Europe. Colorado organizations represent more than 25 percent of the partnership's capital. For additional information, visit sequelvc.com.

Contact: Jennifer Dunlap of CreekPath Systems, 303-845-1069.