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    Latest News

    PR: SCALI Announces Closure of Second Investment
    Wednesday July 03 2002 @ 09:19AM EDT

    Oslo, 03 July, 2002 - Scali AS is pleased to announce that it has closed the second round of its Series B funding round. New investor Four Seasons Venture III led the round. Intel Capital joined as an investor and existing investors Kongsberg Gruppen and SND Invest also participated. Financial details were not disclosed.

    The Linux-based Scali software is designed to enable companies to create supercomputing capabilities from standard servers, rather than to purchase dedicated large machines. Scali clustering technology can reduce the cost of computing by more than a factor of ten for major high performance applications. Scali has a blue chip customer reference list and proven technology in use with customers in Europe and North America. Current customers include Daimler Chrysler, BMW, deCode Genetics, Lockheed Martin, Norsk Hydro, US Naval Air, PGS and Rolls Royce.

    The funds will be dedicated to further strengthen the underlying technology platform of Scali, to boost sales and marketing efforts and for general corporate development purposes.

    The market for clustering solutions is set to grow significantly over the next 3-5 years, as the monolithic and expensive installations in use today are being replaced by cluster solutions. The cluster market is forecasted by IDC to have a compounded annual growth rate exceeding 30% in the period 2000 - 2005, from a total of $ 613 million in 2000 to $ 2.4 billion in 2005.

    Sverre Kjenne, Chairman of the Board of Scali, said:

    "We are delighted with the completion of this funding round and welcome Intel Capital as an investor. We look forward to continue developing and marketing next generation clustering software technology to further strengthen Scali's position in the exciting and fast growing global market of high performance clustering software."

    Hans Olav Torsen, Chief Executive Officer of Scali, said:

    "Scali, has an outstanding and dedicated team that have been pioneers in the development of high performance clustering for more than eight years. Today's funding announcement is a step in helping our technology to become a foundation as the commercial market for clustering solutions continues its rapid expansion."

    Lars Östmarck, Nordic Regional Manager, Intel Corporation, said:

    "Intel Capital invested in Scali to address the market which wants to move Supercomputer functions to affordable, high performance clusters of servers and workstations based on Intel technology."

    - END -

    For further information, please contact:

    Scali AS +47 901 90 678 Hans Olav Torsen

    Four Seasons Venture +47 918 15 508 Bjarne Lie

    Kongsberg Gruppen +47 322 88 200 Stig Trondvold

    SND Invest +47 900 87 600 Atle H Søvik Notes to Editors

    Background on Scali AS (www.scali.com)

    Scali is a leading supplier of Linux-based clustering software technology to both end users and OEMs. Scali solutions are based on commodity server technology, high performance interconnect and Scali software. The Scali Software Platform offers the highest performance MPI implementation available for clusters and the industry´s most comprehensive cluster management system - Scali Universe. Scali's web site http://www.scali.com contains details about the company and its products for high performance superclusters.

    The Company was spun off from the Kongsberg Gruppen in 1997, and has its roots in a defense research project from the mid-90's.

    Background on Four Seasons Venture (www.fsv.no)

    Four Seasons Venture is the oldest and the leading venture capital fund in Norway focusing on investments within the Internet-, telecom- and general technology sectors. The most recent fund, Four Seasons Venture III, was established in April 2001 with NOK 530 million, bringing total capital under management up to NOK 830 million.

    People are key to Four Seasons Venture's success in building high growth companies. The partners at Four Seasons Venture offer a balance of strong operational start-up and venture capital expertise, along with clear judgment, dedication and integrity. This unique combination has made the firm an effective partner of entrepreneurial teams since its inception in 1985. With a philosophy of active ownership, the six partners aim to deliver results through strategic insight, operating guidance, and business development activities.

    Background on Intel Capital About Intel Capital Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy, including Internet infrastructure, content and services in support of Intel's strategic interests. For more information, visit www.intel.com/capital.

    Please provide

    Background on Kongsberg Gruppen (www.kongsberg.com)

    Kongsberg Gruppen is an international technology corporation; a world leader in several product areas. Maritime activities in the defense and civilian markets account for more than 80 per cent of the Group's overall sales. The two main business areas; Kongsberg Maritime and Kongsberg Defense & Aerospace, possess exceptional expertise in signal processing, engineering cybernetics, systems integration and software development. The Group has 4 012 employees and is represented in more than 20 countries. Roughly 20 per cent of the employees work outside Norway. In 2001, operating revenues came to MNOK 6 176, of which MNOK 4 556 was earned outside Norway. The Group is listed on the Oslo Stock Exchange.

    Background on SND Invest (www.sndinvest.no)

    SND Invest is the largest and most diverse investor environment in Norway, focusing on unlisted companies within the Seafood Industry, Offshore- &Maritime sector, Technology sector and the Services sector (biotech./health/travel). SND Invest's strategy is to invest in companies that have potential and ambitions, and improve their capabilities to succeed through active and professional ownership. The mission is to contribute to long-term value creation. SND Invest focuses on companies in the Venture and later stage financing rounds, and has invested NOK 1.8 billion in 140 companies since its inception in 1993.

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