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Conor Announces New Early-Stage Venture Capital Fund

With the First Closing of 46.5 Million Euro, Conor Technology Fund II Starts Investing in Technology Companies Originating from the Nordics and Baltics

Helsinki, Finland – May 5, 2010 – Conor Venture Partners, a leading Finnish early-stage technology VC, today announced the 46.5 million euro first closing of its second early-stage venture capital fund. Operating from Finland and following in the footsteps of Conor’s first fund, the new fund will invest in early-stage technology centric companies rooted in the Nordics and Baltics.

Conor Technology Fund II investors at first closing include the European Investment Fund, Finnish Industry Investment, Etera Mutual Pension Insurance Company, Veritas Pension Insurance Company, Atine Investment Partners, and FoF Growth managed by Finnish Industry Investment and bringing in several major Finnish investors.

“We are very proud to announce our second fund at a size well above its original first closing target,” said Mr. Jari Mieskonen, Managing Partner at Conor Venture Parters. “While working on final closing of the new fund by the end of the year, we look forward to continue investing in great Nordic and Baltic companies such as Imbera, Supponor, and Eniram in our first fund. The technology focus of the new fund remains unchanged, while its geographic reach will be slightly wider. We are looking for world class initiatives to be grown into global success stories. The strong initial investor pool gives wide grounding to build it up to final closing.”

“We are delighted to have a new and large-enough early-stage technology fund in Finland. The new incubation system will provide it with good potential investment targets”, comments Investment Director Riitta Jääskeläinen at Finnish Industry Investment.

“Conor is an established venture capital fund manager and we look forward to starting co-operation with Conor, with potential to develop and commercialize young companies successfully,” said Mr. Esko Torsti, Chairman of the Investment Committee of FoF Growth and Director at Ilmarinen Mutual Pension Insurance Company.

“Being very satisfied with the performance of Conor’s first fund, it was self-evident continuum for Etera to join their second fund at first closing,” said Mr. Tatu Hemmo, Portfolio Manager at Etera Mutual Pension Insurance Company.

“We are delighted to participate in Conor’s new fund,” said Mr. John Holloway, Director, Transaction and Relationship Management at the European Investment Fund. “We have followed Conor since its establishment in 2005 and our investment is proof of our continuing support for this excellent team. It also fulfils the objective of the EU Competitiveness and Innovation Framework Programme by encouraging the development of entrepreneurship and innovation in the region.”

For further information, please contact:

Jari Mieskonen

Managing Partner, Conor

Tel. +358 50 563

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jari.mieskonen (at) conor.vc

Christina Forsgård

Netprofile Finland

Tel + 358 40 571 9192

christina (at) netprofile.fi

Conor press photos available at www.netprofile.fi/pressphotos/conor

Conor Venture Partners is a leading early-stage technology VC investing in Finland, Sweden and the Baltics. With 70 million euros under management Conor invests in disruptive technologies in ICT, embedded systems, electronics, new materials and optics. The Conor portfolio includes companies such as Aito Technologies, Neo Technology, Imbera Electronics, and Supponor Systems. For more information, please visit www.conor.vc

Finnish Industry Investment Ltd is a government-owned investment company that promotes Finnish businesses, employment and economic growth through capital investment. The company invests in growth companies, directly and through funds, together with private co-investors. Capital investments are needed for financing the growth of portfolio companies, internationalisation, spin-offs, major industrial investments, and sectoral and corporate restructurings. The targets are in all sectors. The investments of Finnish Industry Investment amount to over MEUR 640. www.industryinvestment.com

About the European Investment Fund

The European Investment Fund’s central mission is to support Europe’s SMEs by helping them to access finance. The European Investment Fund designs and develops venture and growth capital as well as guarantees instruments which specifically target this market segment. In this role, the EIF fosters EU objectives in support of innovation, research, regional development, entrepreneurship, growth, and employment. At 31 December 2009 the European investment Fund outstanding equity portfolio stood at EUR 4.1bn in some 300 venture capital, growth and mezzanine funds.