Mitsui & Co. Global Investment (MGI) - Venture Capital, Start-Up

NEWS 2007

[03/27/2007]

Tom Berquist Joins Laszlo Systems' Board of Directors

Finance Industry Veteran Adds New Dimensions to Board

San Mateo, Calif. (March 27, 2007) - Laszlo Systems, the leader in rich Internet application (RIA) software, announced today that Thomas P. Berquist has been elected to its Board of Directors. Berquist currently serves as Chief Financial Officer of Ingres Corporation, a global leader in providing open source business services and solutions. As CFO of Ingres, Berquist leads the functions of business development, finance, human resource, information technology, legal, and product management.

Berquist joined Ingres last year after spending 10 years covering software companies as an equity research analyst. Most recently, he was a managing director at Citigroup and covered large capitalization software companies including Microsoft, Oracle, BEA Systems, Intuit, Symantec, CA, and BMC, among others. Previously, he was a managing director at Goldman Sachs with responsibility for its infrastructure and security software franchise.

"Tom brings new dimensions to Laszlo's board, not only with his perspective as a leading industry analyst, but also with his immersion in the rapidly evolving world of open source strategy at Ingres," says Steve Ciesinski, Laszlo's Chairman and CEO. "We're pleased to tap Tom's knowledge and experience as Laszlo's customer base and revenues continue to grow rapidly."

Berquist ranked individually as a top-five analyst multiple times in two different categories and he was involved in more than 30 software transactions, including IPOs, secondaries and convertible debt financings.

"Having analyzed enterprise software for over a decade, I know that success results from both innovative technology and innovative business strategies, including open source; Laszlo has both," comments Berquist. "By building on its global OpenLaszlo community with new commercial products like Laszlo Webtop, Laszlo is poised to be a foundation for the next generation of web applications-inside and out of the enterprise."

"Having Tom on its board instantly puts Laszlo on the map of the financial community,"adds Claude Leglise, a Laszlo Systems board member and Managing "Tom's impressive reputation and industry insights will be invaluable, both financially and strategically, as Laszlo charts its course going forward."

About Laszlo Systems

Laszlo Systems is a global leader of rich Internet application (RIA) solutions. Its flagship commercial product, Laszlo Webtop, provides the industry's fastest path for delivering multiple Web 2.0-based RIA applications that seamlessly interact across popular browsers and devices. Laszlo is also the original developer of OpenLaszlo, the premier open source RIA development platform used by tens of thousands of developers worldwide. Laszlo's software and solutions have been universally adopted by corporations and service providers, ranging from the Fortune 100 to smaller-sized businesses, and extend across the consumer, enterprise, education and government industries. For more information about San Mateo, Calif.-based Laszlo Systems, visit www.laszlosystems.com.