In the News...

January 11, 2001, SEATTLE, WA -- eTunnels Inc., the technology leader in managed VPN services for service providers, today announced the completion of a $4 million first round of venture capital funding. Participating in the round were Tredegar Investments Inc. of Seattle, WA, and Greenstone Venture Partners of Vancouver, BC. This is the first investment in eTunnels for both groups and brings total investment in the company to $8 million.

"The team at eTunnels has created a unique and elegant piece of technology that opens up a whole new marketplace for VPN services," said Brent Holliday, a Principal of Greenstone Venture Partners. "We are excited by the response of the customer base thus far."

eTunnels CEO, Dimitri Sirota, considers the timing of the investment significant: "This investment comes at a time when the investment community has returned to rigorous standards for evaluating companies. There can be no clearer endorsement of eTunnels, its technology and its business plan than an investment in this climate. Tredegar and Greenstone bring more than just money to the table: both groups have extensive experience with networking and service provider propositions, as well as a local presence in our two cities of operation. We expect their experience and expertise to be instrumental in seeing us through our immediate corporate milestones."

eTunnels will use the proceeds of its first round for further development and marketing of its VPN-On-Demand? service for service providers. VPN-On-Demand? is a managed VPN offering that can be dynamically deployed, centrally managed and implemented across heterogeneous network environments. VPN-On-Demand? Version 2.0 is slated for launch on January 17.

About Tredegar Investments Inc.
Tredegar Investments Inc. is the investment subsidiary of Tredegar Corporation. Tredegar Corporation, based in Richmond, Virginia, is a manufacturer of plastic films and aluminum extrusions and operates two healthcare related subsidiaries.

About Greenstone Venture Partners
Greenstone Venture Partners is a technology-focused venture capital fund based in Vancouver, BC and San Francisco, CA. The fund invests in early-stage technology opportunities in the areas of datacom, Internet infrastructure and wireless. As part of its strategy of building global companies in Canada and the Western United States, Greenstone co-invests with leading U.S. venture funds and strategic partners. Find out more at www.greenstonevc.com.

About eTunnels Inc.
eTunnels Inc. is a next generation VPN and security services company. Its central offering, VPN-On-Demand?, connects anyone, anywhere, anytime, securely using next generation VPN technology. Privately held and based in Seattle, WA, the company is funded by venture capital firms and private investors. eTunnels was founded in 1999 and is rapidly expanding. Visit the company's web site at www.eTunnels.com.