Press Release, Dublin, Thursday 9th August, 2007

Intune Networks, a leading developer of technology for telecommunications networks, is pleased to announce that it has raised $17.75m from a consortium of international investors consisting of Amadeus Capital Partners, Balderton Capital (formerly known as Benchmark Capital Europe) and Spark Capital. Intune Networks was formed in Dublin in 1999 by John Dunne, chief marketing officer, and Tom Farrell, chief technology officer. Over the past eight years, the Intune team has developed a global reputation for their expertise in lasers, and this fund-raising will provide the resources to commercialise their innovations for the telecommunications market.

In August 2006, the company recruited Tim Fritzley, a senior executive in Microsoft’s IPTV division, as chief executive to accelerate the build-out of the business. Tim Fritzley said: “The telecommunications landscape is undergoing enormous change right now. New networks are being designed to meet the huge consumer pull for video and other digital entertainment on-demand. Intune has the technology to solve some key problems for the large carriers, particularly with guaranteed service quality and network robustness.” He added: “The proceeds of the funding round give management the resources to accelerate its strategy. We are delighted to be supported by a world-class consortium of venture firms, each of which understands what it takes to commercialise leading edge technology at scale.”

John Dunne, chief marketing officer, said: “We have nurtured our core technology and team over many years and have developed extensive intellectual property. Now the market is demanding the type of optical network innovation we can deliver. We will be announcing new products next year.”

Commenting on the investment, George Coelho, of Balderton Capital said: “The demands of the consumer have evolved significantly over the past decade and the requirement to deliver diverse, high quality content in real-time is paramount to the success of the fixed line telecoms industry. This presents an exciting opportunity for Intune. We are delighted to be involved with Intune and share their vision for the optical networking business.”

For more information about Intune Networks, visit www.intunenetworks.com or email: support@intunenetworks.com