PolyTechnos Funds invest EUR 3.5 million in NemeriX, a provider of GPS chipsets, as part of EUR 9.0 million Series-B fundraising

Munich, Monday, 12 July 2004 − PolyTechnos Venture-Partners, a leading European venture capital firm headquartered in Munich, Germany, announces its advised funds’ participation with EUR 3.5 million in the EUR 9.0 million Series- B funding of NemeriX S.A., a provider of GPS chipsets, located in Manno (near Lugano), Switzerland. Co-investors include Atila Ventures (CH), Auriga Partners (F), and Venture Incubator (CH).

Founded in April 2002, NemeriX is a fabless semiconductor company based in Manno, Switzerland. NemeriX specialises in the development of low power, high performance Global Positioning System (“GPS”) receiver and baseband chip-sets for applications in rapidly growing markets, such as Location Based Services (“LBS”) for mobile handsets and other applications, including automotive navigation, telematics, logistics and people tracking. These markets are expected to exceed EUR 4.5b in 2006.

NemeriX’s unique selling proposition lies in its proprietary architecture which delivers significant reductions in power consumption and size or “foot-print”, while providing very rapid positioning. NemeriX’s solution is compatible with all mobile handset hardware and software architectures, including the new A-GPS standard.

NemeriX’s renowned technical team originates from the ETH Zurich. Its CEO, Ken Hawk, is a successful Silicon Valley serial entrepreneur. The proceeds of this fundraising will be used for production ramp-up, expansion into new markets, and release of a new chipset with deep-indoor capabilities.

“We are delighted to be a part of this exceptional team. NemeriX has proven the attractiveness of its products and is well-positioned to become a leading GPS chipset provider in rapidly expanding LBS and logistics markets”, says Eric Achtmann, Managing Partner at PolyTechnos Venture-Partners.

Customer interest in NemeriX is growing rapidly. “Our revolutionary architecture enables our customers to reduce power consumption by over 60% and footprint by 90% compared to alternative solutions. These compelling advantages will significantly reduce cost and improve performance of our customers’ devices. Our breakthrough, low power GPS chipset is now in full volume production and we are shipping to multiple high volume customers. Our vision is to make the word ‘lost’ obsolete”, states Ken Hawk, CEO of NemeriX. Stephen Rees, Chairman of NemeriX and President of Atila Venture Partners, adds: “PolyTechnos brings a wealth of operating experience to NemeriX and we believe Eric Achtmann will provide a significant contribution to our board”.

About NemeriX

NemeriX S.A. is a venture backed fabless semiconductor company specialising in ultra low power RF and baseband chipsets and software for GPS and wireless applications. NemeriX’s devices and system software enable battery-powered location determination anywhere, anytime, facilitating the design and manufacture of truly differentiated products for both consumer and professional markets. NemeriX is based in Manno (near Lugano), Switzerland. For more information, please visit www.nemerix.com.

About PolyTechnos Venture-Partners

PolyTechnos Venture-Partners is an independent European venture capital firm focusing on early to expansion stage, technology and life science investments predominantly in German-speaking Europe. Areas of expertise comprise Information Technology & Communications, Industrial & Engineering, Energy, Drug Development, Diagnostics & MedTech, and the respective interfaces. PolyTechnos helps companies turn technology into business by providing support in areas such as strategy, business development, and organisation building. PolyTechnos, located in Munich, Germany, was founded in 1998 and currently advises funds totaling approximately EUR 200 million. For more information, please visit www.polytechnos.com.

About Atila Ventures

Atila Ventures was founded in 1999 with the goal of providing capital, operating and other value adding resources to entrepreneurs in Europe. The experience gained in Silicon Valley, Europe and Asia in the high growth technology sector is used to provide entrepreneurs primarily in Switzerland, France, Germany, Austria, and other European countries with venture capital in the segments of micro-electronics, data communications, and information technology. All professionals at Atila Ventures have operational experience in one of the segments in which the company operates, in order to provide the right level of advice to entrepreneurs and their companies. Atila Ventures has offices in Lausanne (Switzerland), Bermuda, and Vienna, and has a consulting office in Munich (Germany). For more information, please visit www.atilaventures.com.

About Auriga Partners

Auriga Partners is an independent venture capital firm. Based in Paris, it invests in information technologies and life sciences, in innovative high potential ventures, in seed or early development stages, in Europe, North America and Israel. Auriga Partners manages three funds for a total of more than EUR 180 million. Along with investing the necessary capital, Auriga Partners brings also its savoir-faire in developing and solidifying executive teams, organising companies, broadening their networks and forming strategic and corporate partnerships. For more information, please visit www.aurigapartners.com.

About Venture Incubator

Venture Incubator is a CHF 100 million fund dedicated to financing and supporting startups in Switzerland and neighbouring regions. It has invested in 12 promising companies in life sciences, medical technologies, software, material sciences and semiconductors. The investors are Swiss blue-chip companies active in industry and finance. The management team is composed of industry experts and successful entrepreneurs, who bring a hands-on contribution. For more information, please visit www.ventureincubator.ch.