For Immediate Release                         

WRIGHT STEENROD TO BECOME PRINCIPAL
AT CHRYSALIS VENTURES

LOUISVILLE, KY (July 27, 2005) – Chrysalis Ventures, LLC, today announced that Wright Steenrod, most recently a Senior Associate, has been promoted to Principal. Mr. Steenrod, 38, joined the firm in June 2001 with a focus on the media and communications sector. He has worked closely with various Chrysalis portfolio companies including Ygnition, Genscape, and Appriss, and currently serves on the boards of bCatalyst, Inc. and Information Outfitters.

“This promotion reflects not only Wright’s stellar work as a Senior Associate, which we believe has helped both our partner companies and the firm create significant value, but also the confidence that the Chrysalis management team has in Wright’s judgment, people skills, and leadership ability,” said David A. Jones, Jr., Chrysalis Chairman and Managing Director. “In this capacity, Wright will begin to take the lead role on behalf of Chrysalis and its investors in sourcing, negotiating, and managing new investments.”

Prior to Chrysalis, Mr. Steenrod was Vice President of Business Development for Darwin Networks, a former Chrysalis portfolio company. From 1995 to 1998, he worked at SunTrust Bank in Atlanta as an Associate in Mergers & Acquisitions. Prior to SunTrust, he served five years in the US Marine Corps from which he was honorably discharged as Captain.

A Louisville native, Mr. Steenrod earned a BA in Economics from Princeton University. He currently serves as a member of the Entrepreneurship Council at the University of Louisville's College of Business and Public Affairs, and as a board member of the Kentuckiana Boys and Girls Clubs.

About Chrysalis Ventures
Founded in 1993, Chrysalis Ventures is a leading source of equity capital for young growth companies in the Southeast and Midwest. Chrysalis invests primarily in early-stage and expansion-stage companies in healthcare information technology and services, media and communications, and business services. Based in Louisville, Kentucky, Chrysalis has more than $200 million under management and has made investments in over 45 companies. For more information, please visit www.chrysalisventures.com.

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