XP Technology Receives $8 Million In Funding

Lime Rock, Kinetic Ventures, Siemens Venture Capital and Siemens Power Transmission and Distribution Provide First Round of Funding

Jackson, MS — June 20, 2000

XP Technology, a leading provider of end-to-end fixed wireless solutions, today announced that it has formed strategic alliances with three venture capital firms and one corporate partner and received $8 million in first round funding. The partners include: Lime Rock Partners, Kinetic Ventures, Siemens Venture Capital and Siemens Power Transmission and Distribution.

XP Technology, based in Jackson, Mississippi, connects customers with their remote devices and assets using a combination of proprietary Web-based software, wireless networks and intelligent interface hardware. In March, the company partnered with Siemens Power Transmission and Distribution to launch a new wireless automated meter reading product and service for commercial and industrial customers.

Lime Rock Partners led the first round of funding that supports XP Technology’s growth. Kinetic Ventures, Siemens Venture Capital and Siemens Power Transmission and Distribution also invested in the company. This round of funding will be used to expand XP Technology’s end-to-end fixed wireless architecture for application in several new vertical markets, extending the software platform for operation as an application service provider (ASP) and expand connectivity to personal mobile devices.

We are delighted to welcome each of these partners to our team,” said Mark Rodgers, CEO of XP Technology. “In addition to their financial commitment, each of these firms brings unique industry insight, experience and strategic vision that will enable XP Technology’s positioning as the leader in the emerging fixed wireless industry.

XP Technology offers an unbeatable mix of value and performance for utilities looking to provide their customers with real time information on their energy consumption,” said John Clarkson, Lime Rock Partners Board Appointee.

"Kinetic Ventures is pleased to partner with XP Technology in developing the ability for businesses to communicate wirelessly with important assets,” said Jake Tarr, Managing Director. “Enhanced automated meter reading capability delivered to utilities and their commercial and industrial customers is the first of many applications. XP Technology's product line fits well with Kinetic Venture's focus on infrastructure and Internet application companies."

In addition to their investments, Siemens Venture Capital and Siemens Power and Transmission & Distribution give XP Technology strategic partners with access to a worldwide network of companies, sales channels and R&D facilities.

XP Technology has put together a strong management team able to execute its business strategy,” said Naveed Khan, president and CEO, Siemens Venture Capital LLC. “We have full confidence in this team’s ability to take XP Technology to the highest levels of success.” Thomas Dollhopf, Investment Manager, stated that Siemens Venture Capital is investing in XP Technology's ability to work with businesses to open lines of communication with their assets.

About Lime Rock Partners
Lime Rock Partners of Westport, Connecticut, is a private equity firm focused on providing growth capital to small and mid-capitalization companies in the energy sector worldwide. Lime Rock’s principals, with backgrounds from Goldman Sachs & Co., have extensive experience in an advisory capacity to small capitalization energy companies. For more information, contact John Clarkson, (403) 215-2415 or jgc@telusplanet.net .

About Kinetic Ventures
Kinetic Ventures is a leading provider of capital to entrepreneurial companies addressing growth markets related to communications, Internet and customer service. The principal focus is on investments in technology segments critical to deregulating utility companies. Kinetic Ventures’ strong track record includes investments in Ciena, Cerent, Corvis, NetCore Systems, Peace Software, Ramp Networks and VerticalOne. Kinetic Ventures has offices in Chevy Chase, Maryland; and Atlanta, Georgia. For more information, contact Mark Blafkin, (703) 556-6300, blafkin@merrittgrp.com , or visit the Web site at www.kineticventures.com.

About Siemens Venture Capital
Based in Munich, Siemens Venture Capital GmbH (SVC) is the umbrella organization of all Siemens venture activities. Its charter is to identify innovative start-up companies and technologies, fund them, and bring them to the attention of Siemens operating business units. SVC invests with minority equity in the high-growth areas of network infrastructure, multimedia communication, wireless, and e-business as well as industrial automation, medical engineering and automotive technologies. SVC has offices in Munich, Boston, Silicon Valley and Tel Aviv. For more information, contact Anita Giani, (408) 492-6917, anita.giani@icn.siemens.com or visit the Web site at www.siemens.de/svc.

About Siemens Power, Transmission and Distribution
Siemens Power, Transmission and Distribution, Inc., headquartered in Wendell, N.C., manufactures and markets equipment and energy service solutions for electric utilities, independent power producers, co-generators and other energy-intensive industries. Along with SVC, it is part of Siemens AG, based in Munich and Berlin. With sales totaling $75 billion, Siemens is a leading manufacturer and supplier of systems for energy and power, information and communications, industry and automation, health care, transportation, microelectronics and components, and lighting and precision materials. For more information, contact Steve Morgan, (770) 751-2477, steve.morgan@sea.siemens.com or prod.info@ptd.siemens.com .

About XP Technology
XP Technology connects remote devices and assets to the Internet, corporate intranets and information management systems through public networks. XP Technology is headquartered in Jackson, Mississippi. For more information, contact Angelyn Bush or Nola Nicholas, (601) 206-9313, abush@xptechnology.com , nnicholas@xptechnology.com , or visit the Web site at: www.xptechnology.com.

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