PRIMORDIAL ANNOUNCES $5 MILLION FIRST ROUND FINANCING

NEW YORK, Oct. 25 - What do nascent e-businesses need today? Newly-minted e-business services provider Primordial has the answer.
With $5 million in first-round funding from Pequot Capital Managements Private Equity Group, Primordial will focus on delivering tactical business consulting, technology, branding and marketing-as well as infrastructure and support services-to the next generation of electronically-enabled businesses.

Jump-starting startups
Most companies in our space are focusing on the Fortune 1000," says Joe Labbe, co-founder and CEO. But with todays market conditions more than ever, start-ups require rapid turnaround, aggressive pricing, and guaranteed delivery-all of which were perfectly positioned to provide."

Primordial has evolved a methodology tuned to the needs of start-ups. These companies have limited cash and limited time," says Labbe. We help them focus their idea, then rapidly begin prototyping. Basically, we can complete a project in the time our larger competitors are still grinding out the strategy deck."

True partnership
A key component of Primordials business model involves taking equity stakes in its clients-a practice virtually unheard-of in todays uncertain stock market. Were not just hired guns, were taking on real companies with real business models," says George Weihs, co-founder and chief technology officer. Clients like to see skin in the game."

Bart Penfold, CEO of Primordial client CareGuide, a next-generation care management company, concurs. We selected Primordial because of the model," Penfold says. We need smarts, speed, and someone willing to share the risk with us."

Experienced team
Though Primordial is a new company, it has been able to assemble a cohesive, experienced team of 30 technologists, creatives, strategists, engagement managers, and operation support personnel. Having an experienced team allows us to move faster," says Mark Silber, the co-founder and chief creative officer. Theres no learning curve."

In 1989, Primordial co-founders Joe Labbe and George Weihs founded Synergetix Systems Integration, a software development company they sold to USWeb (now marchFIRST) in 1997. Prior to forming Primordial, Joe Labbe was the partner in charge of business development for marchFIRST in the New York office, and George Weihs was the partner in charge of technology for the marchFIRST New York office. The third co-founder, Mark Silber, was a partner and executive creative director in marchFIRSTs New York office, and before that, Vice President, Executive Creative Director of Grey Interactive.

About Pequot Capital Management
Pequot Private Equity is the venture capital arm of Pequot Capital Management, Inc., a leading investment firm with more than $10 billion under management in 21 funds. Lawrence D. Lenihan, Jr. and James McNiel of Pequot have joined the Primordial Board of Directors, with Lenihan as Primordials Chairman of the Board.

Leveraging Pequot Capital's in-depth global research, market access and proven lifecycle investment expertise, Pequot Private Equity helps early stage start ups and emerging companies build sustainable competitive advantage in fast-moving technology markets. Pequot Private Equity invests in young and growing companies pursuing leadership in such dynamic market sectors as telecommunications and network infrastructure, eBusiness, and technology-enabled healthcare. Pequot Capital manages investments across all stages of a portfolio company's growth, from start-up to maturity.

Pequot Capital (www.pequotcap.com) is 100% employee-owned and has offices in New York, Westport, and San Francisco.

###

Contact: Kim Fader
Director of Strategic Communications
Primordial www.primordial.com
80 Maiden Lane 19th floor New York NY 10038
(212) 386-7900 x1741 kfader@primordial.com