NZ Companies Score Big on Red Herring Asia Top 100

New Zealand Companies Score Big on Red Herring Asia Top 100

Network Security and Revenue Management are Mission Critical Issues
For Enterprises, Carriers & Service Providers

Wellington, NZ, August 24, 2005 - Leading New Zealand venture capital firm, No 8 Ventures today announced that two of its portfolio companies - Esphion (www.esphion.com) and Argent Networks (www.argentnetworks.com), have been listed on the Red Herring Top 100 Private Companies of Asia. The list is Red Herring's 2005 selection of the 100 most promising private technology companies in Asia.

"To have two companies selected - and the only two from New Zealand - from amongst Asia's hottest technology ventures is fantastic," said Jenny Morel, director No 8 Ventures. "Both Esphion and Argent Networks address urgent problems for Enterprises, carriers and service providers. We're thrilled to be behind both."

"No 8 Ventures has been there since we started Argent Networks and Jenny has been a big supporter of our global expansion plans", said Chris Jones, CEO Argent Networks.

"This is also proof positive of the power of New Zealand's venture capital investment ecosystem to fuel great companies in coming to market", stated Greg Cross, CEO Esphion. TMT Ventures has co-invested with No 8 Ventures in both companies. Both companies also benefited from the support of The New Zealand Venture Investment Fund.

Red Herring's lists of private companies are an important part of the magazine's tradition of identifying new and innovative technology companies and entrepreneurs. Companies like Google and eBay were spotted in their early days by Red Herring editors as those that would change the way we live and work.

Red Herring's editorial staff rigorously evaluated more than 500 private companies through a careful analysis of financial data and subjective criteria, including quality of management, execution of strategy, and dedication to research and development. Red Herring 100 Asia companies will be presenting their business model and strategy at the Red Herring 100 Asia Conference. The conference will take place September 5-7 at the Shangri-La Hotel in Shanghai, China.

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About Red Herring 100 Asia Conference

Red Herring 100 Asia Conference is an invitation-only event for CEOs, select senior executives, and Venture Capitalists. Red Herring 100 Asia will bring together executives from mostly private companies. These executives will be joined by senior executives from public companies and Venture Capitalists. Please contact Yi Cao at 650.585.3524 or email ycao@redherring.com if you would like to request an invitation to Red Herring 100 Asia Conference.

About Red Herring

Red Herring is the weekly magazine technology entrepreneurs, investors and industry observers read to stay ahead of the curve and to be better informed about the global marketplace. Red Herring covers technology, innovation, financial strategies, important personalities and trends that are transforming the world of business with unique insight, opinion and forward-looking analysis. Readers turn to Red Herring for knowledge to make strategic decisions, build companies and create a competitive advantage for their businesses. Red Herring articles, blogs, research and event information can be found online at www.redherring.com.

About No 8 Ventures

Founded in 1998 and with over $60M under management in two funds, No 8 Ventures provides the framework for entrepreneurs to commercialize their technology and create shareholder value. No 8 Ventures actively engages with each investee company to ensure they are geared-up to successfully compete in global markets. For further information, see www.no8ventures.co.nz.

About Argent Networks

Argent Networks designs, develops, integrates, and supports billing and customer care solutions for fixed line, wireless, and next generation service providers. Argent has built its reputation by developing highly flexible, scalable, and cost-effective solutions that support real-time, transaction-based, convergent billing and customer care for voice, data, video, and content services. The company's innovative solutions work behind the scenes to help carriers grow revenue, increase customer satisfaction, control and lower costs, and prepare for future growth. For more information, visit www.argentnetworks.com.

About Esphion

Esphion protects enterprises, service providers and Governments from network disaster. Esphion's breakthrough technology uses neural, behavior-based, real-time analysis to detect known and unknown threats within seconds. It then generates fine-grained signatures, allowing you to stop even the most aggressive attacks and eliminate internal network threats and insider misuse. Launched in 2002 by industry veterans, Esphion is backed by leading venture capital firms. Its customers include Fortune 100 enterprises and major service providers and financial institutions. For more information visit www.esphion.com.

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