Qovia, Inc. Announces $5.5 Million Venture Investment

FREDERICK, Md.-Oct. 21, 2003- Qovia, Inc., a technology pioneer and the sales leader in products for monitoring and management of voice quality, network reliability and enhanced operation of enterprise voice over IP phone systems, today announced that it has closed $5.5 million in total equity financing. The financing will allow Qovia to continue to develop critical hardware and software technologies and offer products that have a broad application as Internet Telephony continues its rapid growth in the United States and around the world.

The private financing was shared by venture investors including: Nokia Venture Partners, Anthem Capital and the Maryland Department of Business and Economic Development Fund.

"Qovia is on the leading edge of a global shift to Internet Telephony," said Richard Tworek, Qovia's Founder and CEO. "Internet phones are considered the next generation of phone systems and Internet Telephony hardware began outselling traditional phone equipment for the first time in early 2003. Qovia's products are playing a key role in this growing market, allowing users to monitor and manage voice quality. With our product sales increasing rapidly and the Internet Telephony market taking off, our ability to attract funding from nameplate investors both validates our business model and allows Qovia to solidify its position in the VoIP industry."

"Qovia stood out because of its ability to look forward and identify a compelling need for efficient Voice over IP monitoring and management tools," said Jonathan Ebinger, general partner at Nokia Venture Partners. "In seeking investment from our fund, the Qovia management team demonstrated the experience and vision to create a product that is already proving to be an essential component of Internet Telephony. We have been very selective in our investments, and Qovia definitely made the grade."

"With a large client base already using their products, Qovia has shown a clear understanding of the business community's desire for voice monitoring and management tools," said Xander Perry, general partner at Anthem Capital Management. "Internet Telephony's growth and the need to monitor and manage VoIP systems will clearly create even more demand for Qovia's product line."

"Qovia looked like a winner from the very beginning," said Aris Melissaratos, Secretary of the Department of Business and Economic Development. "The company has a clear vision, experienced leadership and solid support from the technology and venture capital communities. And it is already selling products into the booming Internet Telephony market. It is companies like Qovia that are proving Internet Telephony is one of the first areas to rebound from the tech recession."

Qovia, Inc. develops computer hardware and software products that monitor and manage voice quality on Internet telephone systems. Internet phones use Internet technology to carry voice traffic and are regarded as the next generation of phone systems. Internet Telephony is one of the first technology areas to show rapid growth following the recent global slump in IT sales. Monitoring and management are needed to ensure reliability and quality and will help Internet telephony gain momentum as the communications medium of choice for business and residential users. Qovia's voice quality monitoring and management hardware and software are already being used by a variety of customers who rely on their Internet VoIP phone systems. Customers include Fortune 1000 businesses, school districts, government agencies, law enforcement agencies, banking and finance, call centers, voice carriers and others.

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. For more information, visit http://www.nokiaventurepartners.com.

About Anthem Capital Management, Inc.
Anthem Capital Management Inc. is a venture capital firm that provides early-stage venture capital to rapidly growing businesses exclusively in the Mid-Atlantic region. The firm was founded in 1994 to create long-term value by partnering with visionary entrepreneurs and their companies. Anthem focuses on those industries that comprise the core of the entrepreneurial and emerging growth companies within this region - Software, Telecommunications, Life Sciences/Medicine and Industrial Technology.

About the Maryland DBED Enterprise Investment Fund
DBED's Enterprise Investment Fund provides direct equity investments in emerging high technology companies with patented or proprietary products or manufacturing processes and a marketing strategy in place. The Enterprise Program works with established companies to move them into their next stage of development as a viable business. A three-to-one co-investor match is required.

About Qovia, Inc.
Qovia's Voice over IP Telephony monitoring and management technologies and products help ensure the quality, network reliability and enhanced operation of enterprise Internet Telephony systems. The company offers a series of technologies that are incorporated into hardware products and software plug-ins that significantly ease management, monitoring and maintenance of Internet phone systems, protect data assets and increase the productivity of IT investments. Qovia was founded in June 2002. Their products fill a key void in VoIP.