Myrio Corporation Raises $9 Million in New Investment

Siemens Venture Capital Leads Round Including New And Current Investors

Kirkland, Washington - Myrio Corporation, a leading provider of software, content management and integration services for Internet Protocol based video services, announced today that it has secured $9M in additional funding. New investors include Siemens Venture Capital, which led the round, and individual industry executives. The company’s three existing venture capital investors - Ridgewood Capital, NeoCarta Ventures and Alexander Hutton Venture Partners - also invested in this round.

Myrio intends to use these funds to expand sales, marketing and development of its software suite and associated managed services, which have now been sold to more than 18 network service provider customers worldwide. Myrio’s solution is an integrated suite of client and server software that interoperates across diverse delivery architectures; these delivery architectures span head end, video on demand servers, access equipment and customer premise equipment (e.g. set top boxes). The focus of the client software is to provide an intuitive and extensible navigation experience for consumers; the focus of the server software is to equip operators with a subscriber management system for service packaging, service creation, service provisioning, billing records and content management.

“Myrio’s software is proving to be integral to the delivery plans of network providers worldwide who are launching - or planning to launch - IP based video services,” said Bjorn Christensen, president and CEO, Siemens Venture Capital.

“Myrio brings an impressive track record in the industry for delivering quality software and support services to its customer base, with a compelling business and marketing roadmap. Siemens sees significant potential for Myrio products to become key components in strategic initiatives within our Information and Communications Network (ICN) division.” added Gerd Goette, Investment Partner at Siemens Venture Capital.

“We are honored to have this investment from Siemens Venture Capital and the other new investors, as well as the continued support from Ridgewood, NeoCarta and Alexander Hutton in this time of product and market expansion,” said Chris Coles, Myrio’s president and CEO. “It is important to have this type of investor confidence from notable industry players that view the continued ‘independence’ of the software layer as an important aspect of the delivery architecture. This investment and positioning will continue to benefit service providers with interoperability and choice of hardware suppliers.”

About Siemens Venture Capital

Siemens Venture Capital (SVC) is the corporate venture organization for all Siemens' businesses worldwide.
SVC plays a key role in the Siemens global network of innovation. The goal is to identify and fund investments in emerging and innovative technologies that will enhance the core business scope of Siemens.

The investment focus is to augment the efforts of various Siemens business segments such as Information and Communications, Automation and Control, Medical Solutions, Transportation Systems and Power. To that end, SVC invests in the following technology growth areas:

Wireline and wireless communication
Industrial automation solutions
Healthcare solutions and medical diagnostics
Automotive and networked transportation systems
Energy management

To date, SVC has invested some 500 million euros in more than 70 start-up companies and 30 venture capital funds mainly in the U.S., Europe and Israel.

SVC is located in Germany (Munich) and in the U.S. (San José, CA and Boston, MA).

For more information please visit our Web site: www.siemensventurecapital.com

About Alexander Hutton Venture Partners

Alexander Hutton Venture Partners is a Seattle-based $95 million venture capital firm, focused on actively nurturing early-stage technology companies in the Pacific Northwest. The firm offers its portfolio companies hands-on financial, technology and management experience by a team of seasoned business professionals with successful operating experience at some of the region's strongest technology companies, such as Microsoft, RealNetworks and F5 Networks. For more information please visit www.ahvp.com.

About NeoCarta Ventures

NeoCarta, a private equity company, has $300 million under management, focused on early to mid-stage technology infrastructure companies in the areas of Software, Hardware, Networking, and Wireless. NeoCarta team has strong technology understanding, operations experience, relevant relationships with major corporations, and proven track record, which creates real strategic value for our portfolio companies. NeoCarta has offices located in San Francisco, California, Boston, Massachusetts and New York City, New York. For more information, visit www.neocarta.com

About Ridgewood Capital

Ridgewood Capital, a private equity firm, has built a diverse portfolio of technology companies in sectors where the partners have direct, relevant experience and that promise substantial growth over the next several years including: Semiconductors, Software and Wireless Communications. Ridgewood Capital is part of the Ridgewood Companies, founded in 1982 and with over a 20-year track record across multiple industries. Ridgewood Capital has offices located in Ridgewood, New Jersey and Palo Alto, California. For more information, visit www.ridgewoodcapital.com.

About Myrio

Myrio is the leading provider of software, content and integration services that enable new video revenue opportunities for broadband operators by leveraging their infrastructures. With Myrio's solutions, operators can offer next generation, TV-based services and media to their customers. In turn, operators can protect their valuable residential customer base from competitors, such as cable and satellite companies. A pioneer in the industry, Myrio has commercially deployed its solutions to operators throughout the United States, and is conducting customer trials internationally as well.

Myrio is a privately held corporation funded by Ridgewood Capital, NeoCarta Ventures, Alexander Hutton Venture Partners and Siemens Venture Capital. For more information, please visit Myrio's web site at www.myrio.com.

Contact:

Sabine Zindera, Director Marketing & Communications
Siemens Venture Capital GmbH (SVC)
Tel: +49 89 636 34488, Sabine.Zindera@svc.siemens.de

Paula S. Davis, Director, Public Relations
Siemens Corporation, New York, NY
Tel: +1 212 258 4260, paula.davis@siemens.com

Derek Vogel, Manager, Public Relations
Myrio Corporation
Tel: +1 425 897 7200, derek.vogel@myrio.com