In the News...

July 10, 2002, Vancouver, BC - - Greenstone Venture Partners, a leading Canadian venture fund, announced today that they have partnered with BDC Venture Capital to inject CDN $5-million into Calgary, Alberta and Corvalis, Oregon based ICEsoft Technologies Inc. CEO Brian McKinney said the funding will allow ICEsoft, a Java-based software developer, to create its next generation of products for embedded device and PC Internet applications and to expand its international sales force.

ICEsoft has created several software applications allowing web designers and Internet-enabled device manufacturers to better utilize Java script, the code allowing dynamic on-line sound and video. ICEsoft?s cornerstone product ICEbrowser can be integrated into any Java application or embedded in equipment using Java. ICEbrowser enables secure data transmission and browsing, and allows desktop and server software designers to add easy Java capabilities to their programs. Since launching in 1998, ICEsoft software has attracted more than 300 licensed customers, including names such as Oracle, Cisco, Nortel, IBM, Fujitsu and SAP.

?This is a tremendous vote of confidence in both our team and our strategy for continued growth,? McKinney said. ?In tough economic times, it?s critical to demonstrate you have more than just interesting technology. Our success in attracting competing term sheets for this current round is evidence of our success to date-as well as our prospects going forward. We are very excited to be bringing investors of the caliber of Greenstone and BDC on board.?

Richard Osborn, General Partner with Greenstone Venture Partners, said ICEsoft not only boasts excellent technology, but a strong, proven operating team. ?ICEsoft has excellent management with an established track record, one which has successfully built and sold technology companies. Combined with the unique integration of the Icesoft Java browser and the new generation security technologies we believe Icesoft will become a dominant embedded systems company?.

Greenstone Venture Partners is a Vancouver B.C. based venture fund that targets early stage technology opportunities in Western Canada and the Pacific Northwestern United States. Greenstone has a particular focus on companies with cross border operations, helping firms profit from the regional advantages of each country.

About ICEsoft Technologies Inc.
ICEsoft Technologies develops and licenses Java-based browser technology. Its portfolio includes browsers, browser toolkits, email applications and security products for embedded devices and other software. ICEsoft?s products incorporate a suite a security tools supporting the latest in elliptic curve cryptography, DES, DES3, RSA and AES standards, and use minimal memory, making them unobtrusive. ICEsoft?s cornerstone software, ICEbrowser, is widely used by desktop and server application developers to maintain control of Internet site building within their applications and to easily add Java capability. ICEsoft has more than 300 licensed customers in 30 countries, and has offices in Norway, Canada, and the United States. www.icesoft.com.

About Greenstone Venture Partners:
Greenstone Venture Partners is a venture capital fund based in Vancouver, B.C. that targets early stage technology opportunities in Canada and the Pacific Northwestern United States. The firm invests across data communications, Internet infrastructure, and wireless sectors. For more information on Greenstone Venture Partners, visit www.greenstonevc.com