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Subject: OASIS Member News: Vordel secures second round funding of up to $10million

Vordel secures second round funding of up to $10 million

Elderstreet, DrKW, ICC, Intel 64 Fund & Powerscourt invest in Vordel

September 4, 2001, Dublin, Ireland and Boston, Massachusetts – Vordel,
whose flagship product TalkXML™ provides a secure framework for web
services, today announced that it has successfully completed a second
round of funding of up to $10 million. The round was led by
Elderstreet and includes new investments from DrKW (through a fund
managed by its OM Investments team), ICC Venture Capital, Intel 64
Fund and Powerscourt Nominees Limited, who is an existing investor in

Vordel also announced the appointment of Simon Cook of Elderstreet and
Anne Bannon of ICC to the company's Board of Directors.

TalkXML™ is designed to enable companies to quickly integrate with the
systems of their business trading partners in a secure environment.
Therefore they can safely extend their business processes over public
networks.  Optimized for speed, TalkXML™ increases returns on existing
investments and provides cost savings.

"This investment will allow us to extend the reach of TalkXML™, which
makes security and cost reduction a reality across diverse vertical
markets,” said David Ryan, CEO at Vordel.

"In the current economic climate," Ryan continued, "companies of all
types are demanding technology that will allow them to extend and
secure their business processes, yet is flexible enough to fit into
their existing security and infrastructure set-up, with minimal
extra investment. TalkXML™ fulfills this wish."

“The Intel 64 Fund invested in Vordel because the company has
developed technology that is designed to address some critical
enterprise computing challenges,” said Mr. Damien Callaghan of Intel
Capital Ireland.

“We will work with Vordel to optimize and market their products for
the IA-32 and IA 64 families beginning with the Itanium™ Processor
Family,” said Callaghan.

Simon Cook, partner at Elderstreet, said “Vordel’s proven XML solution
delivers their customers the long sought after goal of achieving
inter-enterprise interoperability, using open web service standards
with total security and authentication.”

Nick Gregg, of DrKW’s OM Investments team, said “This investment is
consistent with our vision for the next-generation of integration
solutions which will be critical to growth in electronic trade,
particularly within finance. Vordel is now positioned at the forefront
of secure web services and we look forward to helping contribute to
their continued growth."

Anne Bannon, Investment Director at ICC Venture Capital, commented on
the announcement “ICC is pleased to invest in Vordel, who have
demonstrated the ability to deliver solutions for enabling the
framework for flexible and secure inter-enterprise communications.”

About Dresdner Kleinwort Wasserstein (DrKW)
Dresdner Kleinwort Wasserstein is the marketing name for the
investment bank of Dresdner Bank AG, a member of the Allianz Group.
Headquartered in London, Frankfurt and New York, DrKW provides a full
range of investment banking products and services to European and
other international clients including corporates, institutions and
governments through its Investment Banking, Global Equities, Global
Debt, Online Markets and Private Equity business lines. DrKW adds
value for its clients by utilizing its strengths in European debt and
equity markets and its leading position in European distribution, risk
management, derivatives and international M&A and advisory work. For
more information, please visit www.drkw.com

The fund managed by the OM Investments team has an investment focus on
private emerging technology companies whose innovations will impact
the evolution of the financial services industry or where a large
proportion of revenue may be derived from financial clients.

About Elderstreet
Elderstreet DrKC Limited is one of the UK's leading venture capitalist
houses, specialized in investing in venture capital for growing
businesses with a particular expertise in software, internet and
computer services companies. Elderstreet became part of Dresdner
Kleinwort Capital (the private equity arm of DrKW) in November 2000.
Elderstreet's investment team, comprising of over 10 investment
executives manages Ł150 million of committed funds and has existing
investments in over 35 technology companies. The company is headed by
its founder, Michael Jackson, who is also the Chairman of the Sage
Group plc. For more information, please visit www.elderstreet.co.uk

About ICC Venture Capital
ICC Venture Capital is the specialist venture capital arm of ICC Bank
plc, which is wholly owned by Bank of Scotland. ICC VC is Ireland's
largest venture capital/private equity company, with over 80 minority
shareholdings in a wide variety of some of the most successful Irish
companies. Some 50% of these investments are in Irish technology
companies. For further information see www.icc.ie

About Intel 64 Fund
The Intel 64 Fund is a quarter billion dollar equity investment fund
that invests in technology companies developing innovative enterprise
solutions for Itanium-based server and workstations.
The fund is coordinated by Intel with Compaq, Dell, Hewlett-Packard,
Intel, NEC, and SGI as co-investors. The Fund's other investors,
managed by Morgan Stanley Dean Witter, include Bank of America, The
Boeing Company, Circuit City, Enron, Ford Motor Company, General
Electric, McKessonHBOC, Morgan Stanley Dean Witter, Reuters, Sabre,
SmithKline Beecham, Sumitomo Corporation, SunAmerica and Telmex.
Additional information about the Intel 64 Fund is available at

About Powerscourt Nominees Ltd.
Powerscourt Nominees Limited is a wholly owned subsidiary of
Powerscourt Capital Partners Limited, which is an investment
management organization based in Dublin but with an international
Powerscourt provides a premium investment management service to its
private client and institutional investors by way of investment in the
public and private equity market places. For further information see:

About Vordel
Vordel provides the security framework for web services.

Vordel's flagship TalkXML™ product immediately raises the bottom line
of any business by allowing existing systems and people to communicate
securely using XML. TalkXML™ secures business communications, and
extracts additional value from existing IT infrastructures by allowing
inter-enterprise integration.

Vordel Limited is a privately held Irish company headquartered in
Dublin, Ireland with sales offices in London, Boston and New York.
Institutional investors in Vordel include DrKW, Elderstreet VC, ICC
Venture Capital, the Intel IA64 fund, and the Powerscourt Fund.
Additional information about Vordel is available at www.vordel.com

Vordel Press Contact (Europe):
Hugh Carroll
T: +353-1-215 3333
F: +353-1-215 3334
E: press-info@vordel.com

Vordel Press Contact (USA - West):
Julie Bassett
Bassett PR & Marketing
T: (949) 481-8801
F: (949) 488-7706
E: juliebassett@earthlink.net

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