Good News For Canada's High-Technology and Private Equity Industries

Red Herring Inc, the international media company that operates Red
Herring.com and publishes its weekly magazine counterpart covering
global technology, finance and entrepreneurial activity, is pleased to
announce the launch of Red Herring Canada and the organisation of the
first-ever Red Herring conference to be held in Canada, from June 13
to 15, 2007 in Montreal. "This decision represents a celebration of
Canadian technology where all of the provinces and their various
technology clusters will showcase Canada's innovation at its very best
to the global investment community," said Tom Sweeney, General Partner
of Garage Technology Ventures Canada and an advisor to Red Herring
Canada.

"Red Herring's mission is to actively monitor and report on
innovation and finance around the world. We are particularly excited
about the ongoing developments in Canada and its emergence as a leader
in research and development around the world. Red Herring is very
excited to be hosting its first ever conference in Canada. This is a
country that has been home to some of the most extraordinary names in
the technology pantheon, from ATI Graphics to Softimage, Research in
Motion, Ballard Power and QLT. In recent years, we've recognized a
number of Canadian companies in our Red Herring 100 North America
list. With Red Herring Canada, we will help shine a light on a whole
new crop of Canadian technology innovators who deserve more
recognition," indicated Mr. Joel Dreyfuss, Editor in Chief, Red
Herring.

Red Herring events have become the most important annual global
meeting places for CEOs from the technology world. These
invitation-only, C-level forums gather leaders from every part of the
global technology and financial community to exchange insights,
discover innovative technologies, establish new alliances, and
solidify existing partnerships. Select private companies also get the
opportunity to give corporate presentations, providing investors,
public companies and potential partners with the ideal platform to
discover the latest innovative and disruptive technologies.

The Chairman of the Board of Directors of Montreal International
and of the Caisse de depot et placement du Quebec, Pierre Brunet, was
delighted by Red Herring's arrival in Canada and its first
international conference in Montreal, which will foster cooperation in
the high-technology private financing industry. "This event will help
solidify and further enrich the venture capital community, as well as
create new business opportunities for Canadian companies operating in
this sector."

Farley Duvall, Vice President of Red Herring, also commented on
the close support given by Garage Technology Ventures Canada and by
Lyne Bouchard, Vice President Information and Communications
Technology of Montreal International, and thanked local companies from
technology and financial sectors as well as Government representatives
for their welcome.

About Red Herring

Red Herring is a sophisticated insider's guide to the business of
technology, featuring unparalleled insights on the emerging
technologies driving the economy, from the Internet to wireless
communications and digital entertainment. Red Herring reports on how
innovation and entrepreneurship are transforming business and how the
business of technology is transforming the world, providing readers
with a deep understanding of venture capital and capital markets.
Recognized as an essential resource in today's fast-changing business
world, Red Herring gets the right answers before anyone else even
thinks to ask the questions. More information on Red Herring is
available on the Internet at www.redherring.com.

About Montreal International

Montreal International was created in 1996 as a result of a
private/public partnership. Its mission is to contribute to the
economic development of Metropolitan Montreal, and to enhance its
international status. Montreal International is financed by the
private sector, the Montreal Metropolitan Community, the City of
Montreal and the governments of Canada and Quebec. Its mandates
include attracting foreign investment, international organizations and
strategic workers, and developing competitive clusters in the life
sciences and information and communications technology sectors.

About Garage Technology Ventures Canada

Garage Technology Ventures Canada is a Montreal-based, seed,
startup and early revenue venture capital fund focused on technology
investing in entrepreneurial teams with globally-oriented business
models that seek to redefine or dominate their target market niches
and products that embrace customers with truly differentiated value.
The technologies of primary interest to Garage Canada include:
enterprise software, Internet media & communications, sensors, medical
devices, cleantech, advanced materials and the emerging field of
quantum computing. The fund benefits from close strategic ties with
Garage Technology Ventures and the Band of Angels in Silicon Valley
and a network of distinguished advisors from world-class North
American and European corporations and universities.
(www.garagecanada.com)