Geneva, October 26, 2000

Nascendo SA, an incubator inaugurated its new offices in Geneva, Switzerland today.

In a vast hall in its location Nascendo gathered about 100 people, mostly European bankers, lawyers, venture capitalists, business angels, and other IT professionals invited to its Kick-Off party. Attendees included senior officers of Area, Arthur Andersen, Baker & McKenzie, Banque Pictet, Bilan, Crédit Suisse, Dresdner Bank, Durlacher, Egon Zehnder, Hewlett Packard Europe, Intel Capital, Lombard Odier & Cie, Lausanne Polytechnic School, LeBoeuf Lamb, Mirabaud & Cie, Moquet Borde, Oracle Europe, PriceWaterhouseCoopers, Swiss Exchange and UBS.

Mr. Marin le Corre, CEO of the firm after greeting the assembly explained that NASCENDO in its short life of less than two years already achieved the recognition of its peers by having been accepted as the Swiss founding member of the European Business Incubator Association. The firm holds 10 participations in start-ups, mainly B2B, has initiated a Reverse Take-Over in Canada, and expects to access full listing on the CNDX after the closing of a current Private Placement. He then outlined the expansion program of the firm mainly geared to hi-tech in the field of interactive TV, and wireless devices. He also introduced the four prestigious members of Nascendo Advisory Board.

His speech was followed by an analysis of the behaviour of the NASDAQ since last March by Professor Didier Cossin of the University of Lausanne. He suggested that in spite of many failures the opportunities are numerous, and he believes that NASCENDO is well designed to capture them in Europe.

Mr. Mike Sills, partner of Arthur Andersen gave the audience a thorough analysis of what makes a company successful which is not only the tangible assets but in many cases the intangibles such as the quality of the staff.

As a fourth speaker Mr. Jean-Pierre Pedrazzini, Consultant with Egon Zehnder, gave his view on the Human Resources focused mainly on CEO's, the finest talents being of course determinant for the success of companies either large or small.

The meeting ended by the presentation of the 15 Nascendo team members working in Geneva, Paris, London and Milan where the company maintains offices. Finally. Marin le Corre invited the attendees to take the time to review the opportunities offered by NASCENDO.