Press Release

Cemaphore Systems Secures $10 Million Series B Financing

vSpring Capital Managing Director Joins Board

San Mateo, Calif. - September 21, 2004

Cemaphore Systems™, a leading provider of Messaging Services Management (MSM) solutions, today announced that it has secured $10 million in Series B funding. vSpring Capital led the round with existing investors Mayfield and Worldview Technology Partners also participating. In related news, the company also announced that Ed Ekstrom, vSpring Capital Managing Director, has joined the company's board. The financing will be used to broaden sales efforts, increase awareness and further enhance the MailShadow™ solution.

"Cemaphore's MailShadow completes the Microsoft Exchange centralization story for remote locations," said Ed Ekstrom, Managing Director, vSpring Capital. "Placing an Exchange transaction cache in the branch office delivers the best performance to Outlook® users while minimizing network bandwidth usage. This is the right solution for distributed enterprises. Combining superior technology with the experienced management team, we believe this will be a great investment."

"No other company has taken a transaction caching approach to support Microsoft Exchange centralization," said Kevin Fong, Managing Director of Mayfield. "We believe that as IT makes the transition from distributed to centralized Exchange operations, they will find MailShadow a compelling value. Cemaphore has the opportunity to become a key component within the Exchange infrastructure."

"Cemaphore has made great progress in building a cost-saving, performance enhancing solution for Exchange deployments," said Michael Orsak, General Partner and co-founder of Worldview Technology Partners. "This financing round provides the opportunity for this company to ramp sales and its market penetration. We look forward to capitalizing on our international business development resources to enable Cemaphore to exploit the global market opportunity for Exchange transaction caching in the US, Europe and Asia."

"Cemaphore has been developing a ground-breaking solution for the way Exchange can be deployed," said Tyrone F. Pike, CEO of Cemaphore Systems. "This investment from three prominent venture capital firms validates the solution that the Cemaphore team is building, and the opportunity to expand our investment in bringing MailShadow to the market."

Cemaphore Systems' MailShadow software optimizes Exchange server centralization performance by lowering network traffic by up to 90% and overcoming the performance problems caused by network latency.

About vSpring Capital
vSpring is a traditional early-stage venture capital firm with over $180 million of committed capital under management. The firm specifically targets information technology and life sciences companies headquartered in the Intermountain West region. Its primary areas of focus include enterprise software, networking and communications, security software, Internet, mobile computing, drug discovery, drug delivery, diagnostics and medical devices, all markets where the firm has deep experience. For more information, please visit www.vspring.com.

Contact: Gena Cecala, 1-801-942-8999, gena@vspring.com

About Mayfield
Mayfield provides Venture Capital with Impact and creates next-generation technology companies in communications and enterprise software. Since Mayfield's founding in 1969, the firm has invested in more than 456 companies and has taken approximately 140 companies public. Mayfield's portfolio of companies includes those that represent the foundation of today's technology economy, as well as companies striving to set the technology paradigms of the future such as Scalix, OuterBay, and Mendocino. For more information, please visit www.mayfield.com.

Contact: Jennifer Jones, 1-650-854-5560, jjones@Mayfield.com

About Worldview Technology Partners
Founded in 1996, Worldview combines a focused investment strategy in emerging IT technologies with international value-added services. Worldview's unique international value-added services team enables Worldview's portfolio companies to more easily penetrate global markets for customer, supplier, and manufacturing relationships. It also serves as a valuable source of market information and customer feedback. Worldview has an investment office in Palo Alto and business development offices in Tokyo, Shanghai, and Frankfurt. Worldview has more than 75 companies in its portfolio with $1.4 billion under management. For more information, please visit www.worldview.com.

Contact: Steve Kaufman, VCPR, 1-408-436-0774, skaufman@vcpr.com

Contact Information

For more information, please contact us:

Phone: 1–800–644–7839
Email: info@cemaphore.com

PR Contact:

L.D. Weller
1–801–805–0350
ldweller@cemaphore.com

About Cemaphore

Founded in April 2002, Cemaphore Systems, Inc., a Microsoft Gold Certified Partner, delivers software solutions for Microsoft Exchange. Cemaphore has built a deep expertise in Exchange transaction technology to develop solutions that ensure the availability, integrity and reliability of messaging services.

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Traditional Challenge

Learn more about the problems that afflict traditional replication solutions in an Exchange environment: