Marlborough, MA - March 08, 2004 - ProQuent Systems, Inc., a leading provider of intelligent mobile data infrastructure, today announced that it has secured $14 million in Series D venture capital funding. Nokia Venture Partners and St. Paul Venture Capital lead the series with a $12 million investment. An additional $2 million is being kept open for future strategic investments. The funding will support ProQuent's market and business development efforts as it continues to expand its reach into the mobile applications market.

"The mobile market is about to grow unlike anything we've seen for the past five years," said John Malloy, Partner, Nokia Venture Partners. "We believe that ProQuent has tapped into a significant market opportunity for mobile data applications and we're now seeing validation of this among global mobile operators who see the inclusion of these applications as strategic to their growth and future business initiatives."

According to International Data Corporation (IDC), a premier global market intelligence and advisory firm in the information technology and telecommunications industries, global data services revenue is forecasted to grow 16% over the previous year, and will account for one quarter of the total market by the end of 2004. Demand for data services will be strong in all regions, producing a 15% CAGR for total data services worldwide and a 30% CAGR for wireless data services. By 2007, IDC believes worldwide spending on data services will reach $375 billion, led by North America and Asia/Pacific, while wireless data services will grow to more than $150 billion.

"ProQuent is positioned to take advantage of these positive market dynamics because of its ability to understand and manage the complexity and constantly changing requirements of the mobile operator," said Rod Randall, General Partner, St. Paul Venture Capital. "ProQuent has a loyal customer base and it is expanding its core product offerings by developing new applications that are well positioned to address the expansion we see developing for turnkey wireless data applications."

ProQuent's funding comes on the heels of the company's recent launch of ACCESS Mobile, a turnkey solution for managing content on mobile networks. ACCESS Mobile includes a classified content database from SurfControl, the leading supplier of solutions for content control in the broadband and Internet markets. By combining the mobile optimized flexibility and scalable technology in the ProQuent MSSP with the proven content management capabilities of SurfControl, ProQuent is enabling operators to continue redefining their existing infrastructure by expanding control over highly functional and specialized network subsystems.

"I am pleased to be joining ProQuent at such a pivotal time," said Lou Piazza, President and CEO, ProQuent Systems. "ProQuent is positioned to capitalize on the operator focus on how data applications and the Internet are going to change their business. We have the products, partnerships and team to execute."

About St. Paul Venture Capital
St. Paul Venture Partners is one of the most respected and successful venture capital firms in the United States. With $3 billion in committed capital, St. Paul Venture Capital has been an active investor in early-stage opportunities since our founding in 1988. With offices in Boston, Minneapolis and Silicon Valley, St. Paul Venture Capital provides financial capital and strategic support to emerging businesses in the areas of: Communications Technology, Software and Services and Healthcare.

About Nokia Venture Partners
Nokia Venture Partners is a leading global venture capital firm based in Menlo Park, California. Backed by a number of value add limited partners, the fund leads investments in early stage mobile technology companies around the world. Launched in 1998, Nokia Venture Partners has a strong track record of leveraging its combined resources, experience and contacts to help build successful mobile businesses. The firm also has offices in Washington DC, London, Helsinki, Hertzelia, Seoul, Hong Kong and Tokyo.

About ProQuent Systems
ProQuent® Systems is a leading provider of intelligent mobile data infrastructure. The company's flagship product, the ProQuent Mobile Services Switching Point™ (MSSP™) is a carrier-class platform for deploying and managing applications on mobile networks.

ProQuent ACCESS (Authorized Content Control & Electronic Subject Screening) Mobile is the only commercially available solution for operators looking to actively enforce mobile content and access control policies in real-time. With ACCESS Mobile, mobile network operators can filter out and control customer access to inappropriate, indecent and offensive content.

ProQuent TollGate Mobile provides a complete solution suite for IP billing in wireless data networks, both for prepaid and postpaid applications. The core of the solution suite is the ProQuent MSSP, giving operators full visibility and full control over subscriber data sessions in real-time.

ProQuent BitCapture Mobile provides mobile operators the ability to collect highly granular and detailed user and usage information on subscribers, applications and services in a mobile data network. The collected information can be viewed using built-in and third party reporting tools.

ProQuent Systems is headquartered in Marlborough, Massachusetts, with regional sales offices located in the US, Europe and Asia. For more information about ProQuent please visit www.proquent.com or e-mail: info@proquent.com.