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New Members Complement Company Founders With Strong Management, IT, and Financial Expertise

LONDON, UK and RALEIGH, NC - February 16, 2005 - Accipiter Solutions, Inc., an online advertising technology leader since 1996, today announced it has named two new members to its board of directors. Dr. Donald (Don) Telage, 35-year IT veteran, and Michael Ramich, principal with Frontier Capital, join Accipiter’s co-founders Brian Handly and Jeff Wood, contributing a valuable outside perspective to the company’s board of directors.

Accipiter recently secured a $2 million round of funding from Frontier Capital, a Charlotte, North Carolina-based private equity investment firm that specializes in providing expansion capital to high growth companies. With the support of the newly-formed board, Accipiter plans to use the funding to hire additional sales, development, product management, and business development staff as well as accelerate the development of new technologies and increase industry awareness throughout the year. Accipiter recently hired a Director of Marketing and has plans to further increase employee growth by 30% in 2005.

The funding from Frontier and formation of the Board of Directors follows on the heels of a strong year in 2004 for Accipiter, with continued profitability and 40% revenue growth over 2003. With customers in more than 28 countries, over 49 billion ads are served each month using Accipiter innovations, including site-side (AdManager) and hosted (AdBureau) ad management solutions, as well as VIBE, Accipiter’s behavioral targeting solution.

“We are very pleased to have Don and Michael join our board,” said Brian Handly, Accipiter CEO. “Their breadth of knowledge, experience, and industry insight will be invaluable as we continue to focus on developing superior technology and building a better business for the future.”

With a career spanning 35 years and including ventures such as executive management, technical operations, and academics, Dr. Telage’s current interests involve mentoring and investing in venture-funded technologies. “My experience with high tech software and service companies has afforded me the opportunity to mentor up-and-coming all-stars such as Accipiter,” said Telage. “I look forward to helping Accipiter prove that any business with an online presence can experience real ROI using proven tools and services like those offered by Accipiter.”
Michael Ramich has spent many years developing, analyzing, executing and monitoring sound investment opportunities. “As new board members we are optimistic of the future direction of online advertising and want to support Accipiter’s position as the ad management industry leader,” said Ramich.

Don Telage
Don’s professional career spans 35 years of executive management and technical operations in high technology software and services plus several academic positions in computer science and mathematics. Don helps Frontier evaluate, monitor and manage technology-delivered service businesses. Don had 10 years of service with VeriSign and Network Solutions Inc. including the role of President and Chief Operating Officer of NSI, prior to, and through, it’s IPO. He was the key company spokesman on commercial Internet issues and a regular speaker at the Brookings Institute, the Heritage Foundation, the State Department, and he advised numerous U.S. congressmen and senators on Internet matters. In the area of public service, Don served as Chairman of the Child Online Protection Act (COPA) Congressional Commission (www.copacommision.com) through a bipartisan appointment. The controversial COPA statute was argued twice before the U. S. Supreme Court in 2001 and 2004 with the COPA report being used to justify the majority decision in 2004. As a result of this work he is often asked to speak on the role of architecture in solving complex online social problems.

Michael Ramich
Michael is a Principal at Frontier and is responsible for developing, analyzing, executing and monitoring investment opportunities. Prior to Frontier, Michael was with General Electric. Through roles in corporate mergers & acquisitions, internal consulting, and operating finance, Michael gained strategic and financial experience in a number of GE’s industrial and financial businesses. In addition, Michael gained growth capital investing experience with Whitney & Company in Stamford, CT. He currently serves on the boards of Accipiter Solutions and Plan Express. Michael holds a Bachelor of Arts in Economics from Duke University and an MBA from Harvard Business School.

Brian Handly, CEO and co-founder
A true online advertising veteran, Brian brings years of technical, operational and executive management experience to his role at Accipiter. As a co-founder and CEO, Brian's role is to manage the vision and strategic direction of the company. He is responsible for the overall management and development of all aspects of the organization, ensuring that everything from technological innovations to marketing initiatives continue in Accipiter's tradition of bringing bleeding-edge online advertising solutions to the marketplace. Brian's many years of experience include his previous position as vice president of technical services at Engage, Inc., where he led the team that initially developed AdManager, the well-renowned technology that Accipiter was founded upon. Brian also enjoyed significant success in several other small business start-ups and entrepreneurial activities. Brian holds a BS/BA in Marketing from the University of Missouri and also attended North Carolina State University.

Jeff Wood, VP of Sales and Account Management and co-founder
An industry veteran with over 18 years of experience, Jeff has been involved in the online advertising world since its inception. Jeff has been responsible for significant revenue growth and new customer wins that have helped make Accipiter the leading developer of online advertising solutions and services since 1996. Jeff oversees the needs of hundreds of customers worldwide, who serve a combined total of over 49 billion ads per month using Accipiter innovations. With eight years of ad management experience and over 6 years of experience helping customers implement Behavioral Targeting technology, Jeff continues to be at the forefront of this industry. He has written extensive white papers on Behavioral Targeting and other ad management topics and is often asked to comment in the press and at industry events. Prior to Accipiter, Jeff was the top grossing sales manager for Engage's Interactive Solution Division. Before joining Engage, Jeff held management positions at CIGNA HealthCare and Citizens Insurance Company. Jeff holds a BA in Computer Sciences and Industrial Technology from Central Michigan University. He is an active member of the Internet Advertising Bureau and currently sits on its measurement task force committee. Jeff is also an associate member of the Online Publishers Association.

About Accipiter
Based in Raleigh, North Carolina and London, UK, Accipiter has been a pioneer and leading developer of online advertising solutions and services since 1996. With more than 350 customers worldwide, over 49 billion ads are served each month using Accipiter’s technology. Accipiter executives strive to be industry thought leaders through work with the Internet Advertising Bureau and Online Publisher’s Association. Accipiter offers a site-side ad management software solution, AdManager V7, and a hosted solution, AdBureau. Accipiter leads the industry with over six years of experience in implementing behavioral targeting technology, and recently introduced the new Visitor Information Behavioral Engine (VIBE). For more information, please visit www.accipiter.com.

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Media Contact:
Shawn Ramsey-Kroboth
SRK Communications for Accipiter
Phone: +1 919-359-0947
Mobile: +1 919-621-0737
shawn@srkcommunications.com

Published on: 12:00AM on 16th February 2005