NewMonics receives an additional $2.6 million of expansion capital from Tucson Ventures and existing investors

NewMonics, Inc., a leading supplier of advanced Java-based solutions for embedded systems, today announced it has completed a preferred round of investment from Tucson Ventures. NewMonics addesses the needs of systems architects designing and implementing real-time embedded applications within the factory automation, telematics and telecommunications infrastructure categories. With an impressive customer list including Nortel Networks, Intel, Xata/Qualcomm and Parker Hannifin, Tucson Ventures believes that this additional investment will enable NewMonics to take market share away from other solution providers in the complex and high-end embedded space.

Tucson, Arizona, March 7, 2002—NewMonics, Inc., a leading supplier of advanced Java-based solutions for embedded systems, today announced it has completed a preferred round of investment from Tucson Ventures. Other investors include Arch Venture Partners, APV Technology Partners, Dynafund Ventures, Venture Investors and Intel Capital.

NewMonics was founded by Dr. Kelvin Nilsen, a 1988 Ph.D. graduate of the University of Arizona computer science department. Dr. Nilsen is a recognized expert in the field of real-time Java for embedded applications and holds several commercial patents.

In 2002 and beyond, we see significant opportunities for NewMonics to address the needs of systems architects designing and implementing real-time embedded applications within the factory automation, telematics and telecommunications infrastructure categories," says Jim Thornton, Venture Partner at Tucson Ventures. NewMonics has built an impressive customer list and is poised to take market share away from other solution providers in the complex and high-end embedded space."
This investment will provide NewMonics the necessary capital to increase sales and marketing activity, thus accelerating our revenue growth. Participation by Tucson Ventures improves NewMonics ability to utilize all the available resources in the Tucson community," says David McCrabb, Chief Executive Officer of NewMonics.
NewMonics is the creator of the PERC Platform, a Java-compatible embedded virtual machine and libraries expressly made for complex embedded systems such as those found in network infrastructure devices, telematics and industrial automation products. PERC has a customer following that includes Nortel Networks, Intel, Xata/Qualcomm and Parker Hannifin.

About NewMonics, Inc.

NewMonics provides advanced Java-compatible solutions for todays complex embedded systems, enabling equipment developers to realize substantial improvements in overall system capabilities while reducing time and cost to market. NewMonics products and services center on patented embedded Java technology that delivers performance, predictable timing and reliability while introducing ease of development, reusability and openness. At the heart of this is NewMonics PERC virtual machine, which revolutionizes the JVM to meet the exacting standards of fields such as network infrastructure, advanced industrial automation and fleet telematics. NewMonics offers expert professional services as well as a suite of components comprising compilers, tools and libraries for Intel and Power PC microprocessors running with a variety of popular real-time operating systems. For additional information, see www.newmonics.com.

About Tucson Ventures

Tucson Ventures manages a $13 million venture capital fund focused on early-stage investments in Information Technology, Optics, Genomics/Proteomics and Medical Devices. Tucson Ventures limited partners include leading institutions and entrepreneurs within Arizona. For more information on Tucson Ventures, please visit www.tucsonventures.com.

MARKETING CONTACT:   PRESS CONTACT:
Peg Herbst           Janice Hughes
NewMonics, Inc.           Hughes Communications,Inc.
630-689-5508           860-434-3782
mherbst@newmonics.com   janice@hughescom.net