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Foundation Capital Promotes Charles Moldow To General Partner

Tellme Networks Veteran Advances, Will Focus on Consumer Internet, Wireless, SaaS and VoIP

Menlo Park, CA, November 6, 2006 — Foundation Capital, a venture capital firm committed to early stage company building, today announced that Charles Moldow has been promoted to general partner. Moldow brings 18 years of early start-up experience to Foundation Capital. Currently in his second year with Foundation, Moldow joined as a venture partner in 2005. Before joining Foundation, Moldow was a senior executive with Tellme Networks, the market leader in business to consumer voice and data communications for carriers and enterprises. Charles joined Tellme as one of the first members of its executive team and led the company's sales efforts, booking more than $500 million in revenue with his team.

"Our focus at Foundation Capital lies in supporting the industry's leading entrepreneurs, using our own similar experience as the basis," said Adam Grosser, general partner, Foundation Capital. "Charles' skills were honed to the highest levels in his years at Tellme and @Home, and are proving to be a clear asset to our firm. As he settles in to his new role as general partner, we expect Charles to tap new pipelines into the nation's newest and most promising entrepreneurs, laying the groundwork for Foundation's growth into the future."

Prior to his time with Tellme Networks, Moldow was founding vice president of business development with Internet access provider @Home Network, where he secured long-term distribution deals with the nation's largest cable operators. He later led the company in building its broadband media business, assisted in the $7 billon acquisition of Excite Network and was general manager of Matchlogic, a $70 million division focused on rich media advertising, customer acquisition programs and targeted marketing campaigns. Previously, Charles co-founded businesses centered on travel information and direct marketing solutions.

"My past year with Foundation Capital has put me back in touch with the young entrepreneurs driving this next wave of innovation," commented Moldow. "Having lived the start-up cycle four times, with both successful and unsuccessful outcomes, I have great admiration and empathy for the passionate entrepreneurs who walk through our doors every day. I feel privileged to have the opportunity to work with this generation's brightest minds, to create the Valley's next wave of great companies."

Moldow currently works closely with a number of Foundation's portfolio companies including TuVox, Traverse, Rinera, DermaCare, an as-yet unnamed stealth search company and Arroyo (recently sold to Cisco). Moldow also serves as a board advisor to teleservices leader LiveOps. Moldow holds an MBA from Harvard Business School and a BS from the Wharton School at the University of Pennsylvania.

About Foundation Capital
Founded in 1995, Foundation Capital is a venture capital firm committed to supporting entrepreneurs and their companies, targeting innovative opportunities in telecommunications and networking; Internet infrastructure; and enterprise software and on demand services. Foundation Capital funds total more than $1.7 billion. For more information, visit www.foundationcapital.com or contact Tim Turpin (415) 392-8282, tim@outcastpr.com.