Enpocket closes funding round and appoints former Ziff-Davis President/CEO to board

June 28, 2002 Enpocket, the UK’s leading wireless media business that represents O2 and other major media owners, has added a strong international media presence to its board with the addition of Mike Perlis of GrandBanks Capital, a Boston-based venture capital firm established in partnership with SOFTBANK and Mobius Venture Capital (formerly SOFTBANK Venture Capital). This broadening of the board coincides with a multi-million Euro round of financing led by GrandBanks Capital and Nokia Venture Partners. Closure of this funding enables the company to build on UK successes and rollout its expertise to new and growing markets in the US and Europe.

Commenting on the development, Jonathon Linner, CEO of Enpocket said: ‘We are delighted to be able to announce Mike Perlis joining the board for the depth of media experience he brings in profitably growing international media businesses. Mike has led several of the world’s foremost media companies including roles as President/CEO of Ziff-Davis Publishing, and top posts at TVSM, Conde Nast, Playboy, and IDG. We are also thrilled with the additional financial support from GrandBanks Capital and Nokia Venture Partners, which ensures Enpocket’s future as an international force in the wireless media market.’

Jonathan Ebinger of Nokia Venture Partners added: ‘Since our initial investment last September, the Enpocket team has established a convincing lead in the sales, delivery and research of wireless campaigns in the UK and is actively setting the standards for how quality in the medium is defined with Carrier Grade Media. This further funding will speed the extension of this expertise to other markets.’

GrandBanks Capital’s Perlis adds: ‘I am delighted to be joining the board. Enpocket is the unrivalled leader in the UK market. The company is beautifully positioned for the task of developing wireless media sales for network operators and other major media owners in Europe and the US. At a time when media budgets are under more scrutiny than ever, we are confident that the exceptional returns ‘carrier grade’ wireless media can deliver will see progressive diversion of budgets to the medium for branding and response-based activity.’

About Enpocket:
Enpocket is the leading provider of ‘carrier grade’ wireless media. Enpocket has a unique mix of sales, technology and research expertise designed to accelerate development of the medium and deliver maximum returns to mobile operators, portals and content providers. Enpocket sells, serves and reports on wireless media. Its goal in so doing is to help marketers target highly valued and effective mobile communications, so wireless can be a great new medium for all. www.enpocket.com.

About Nokia Venture Partners:
Nokia Venture Partners is a leading global venture capital firm based in Menlo Park, California. Launched in 1998, Nokia Venture Partners has USD$650 million under management and leads investments in early stage mobile technology companies around the world. The fund is backed by a number of value add limited partners and 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, Seoul, Hong Kong and Japan. For more information, visit http://www.nokiaventurepartners.com.

About GrandBanks Capital:
GrandBanks Capital is a newly formed venture capital firm, established in partnership with SOFTBANK and Mobius Venture Capital (formerly SOFTBANK Venture Capital). GrandBanks Capital focuses on making early stage technology investments primarily located in the eastern part of the United States. Headquartered in Newton Center, Massachusetts with offices in New York City, GrandBanks Capital seeks to leverage the strength of the strategic relationships provided by SOFTBANK's extensive and worldwide portfolio of companies. www.grandbankscapital.com.