August 16, 2001

Press Release: Bob Whyte Joins Research Triangle Ventures

August 20, 2001, Raleigh, NC - Robert S. Whyte joined Research Triangle Ventures (RTV) on August 1 in the role of Venture Partner. He brings years of experience to RTV, and will help with all areas of Fund operation. Fred Hutchison, a general partner with the Fund said, "Bob is a tremendous addition to our team with his extensive operational and investment experience."

Whyte has worked in the private equity industry for over 30 years in three capacities - private equity investment manager, venture capitalist and entrepreneur. As an investment manager with Mitchell Hutchins Institutional Investors, Whyte shared responsibility for the management of a $400 million private equity portfolio consisting of more than 100 VC and LBO partnerships for institutional investor clients that included AT&T, NYNEX, and United Technologies. While working with Tullis-Dickerson, FORTIS, GE's venture capital group, and Payson & Trask, Whyte made numerous venture capital and leveraged buyout investments, and served as a member of the board of directors for more than 12 companies. His entrepreneurial and operational experience includes interim CEO assignments for troubled companies; founder of two start-ups; and marketing, sales, strategic planning and financial management positions with IBM, FORTIS and GE Capital.

Whyte received an MBA from Harvard Business School and a BS/Electrical Engineering degree from the University of California, Berkeley.

"I'm excited to be part of Research Triangle Ventures, " Whyte said. "I believe RTV has the opportunity to be a market leader in providing venture capital and business development services to early-stage and technology-driven businesses. Working with the Research Triangle Ventures team will be particularly rewarding because of the quality of the people and the opportunity to make a difference in a young and growing venture capital firm."

ABOUT RTV
Research Triangle Ventures is a seed stage venture capital fund based in Raleigh, NC. It invests in emerging, high growth companies located in Research Triangle, North Carolina and surrounding areas. Its initial investments typically range from $250,000 to $500,000. Research Triangle Ventures contributes a unique blend of experience and perspective, as well as an outstanding network of advisors and professional resources.