Tsunami Research Announces New Executives and Advisors, Close of Banner Year

Software company achieves significant milestones in 2003

St. Louis, MO – January 12, 2004 – Tsunami Research, Inc., the software company pioneering Hive Computing, today announced the close of a landmark year in the company’s history. In addition to closing its Series A funding round, the company added to its executive team and board of advisors, and made notable progress in its efforts to bring Hive Computing and its HiveCreator product to market.

“2003 will go into the history books as a breakthrough year for Tsunami,” said founder and CEO Bob Lozano. “The company made outstanding progress in every area this year, and we are extremely well positioned entering 2004.”

Lozano attributed the company’s success in 2003 to the growing market need for an affordable computing fabric upon which to build and redeploy enterprise applications.

“Companies building transactional and service-oriented applications are attracted to Hive Computing because it can slash the cost of developing, deploying, and maintaining these applications,” said Lozano. “In some cases by an order of magnitude or more.”

New Advisors Selected

Tsunami increased the breadth of its advisory board in 2003 with the addition of Dr. Jerome Cox, John Cronin, and Kevin Haar, announced today.

Dr. Jerome Cox is a senior professor of computer science in the Department of Computer Science at Washington University in St. Louis, Missouri. Dr. Cox, who joined the faculty of the university in 1955, left the university in 1999 to co-found Growth Networks, which produced advanced networking chipsets. Dr. Cox served the company as vice president of strategic planning until it was sold to Cisco in March 2000, after which he returned to Washington University.

John Cronin is an industry advisor with over 25 years of experience in the design, engineering, and implementation of new technologies. Currently serving as a consultant with one of the industry’s leading professional services firms, Mr. Cronin is active in helping large enterprises understand the impact of emerging and maturing technologies and deploy these technologies to create competitive advantage. Mr. Cronin has served on advisory boards for Borland International, InfoWorld, and the University of Missouri, and regularly volunteers his time and talents to help non-profit and small businesses with their technology planning.

Kevin Haar is a software, technology and management consultant currently residing in St. Louis, Missouri. An experienced software industry executive, Mr. Haar held the position of senior vice president of worldwide field operations for Rational Software prior to IBM's $2.1 billion purchase of the company. One of Rational's early employees, Mr. Haar served in a variety of positions at the company, including management positions overseeing field sales, consulting, support, and business development.

Cox, Cronin, and Haar join J. Carter Williams (program manager, Chairman's Innovation Initiative, Boeing) and Mark Dunkel (managing partner, Southeastern Technology Fund) on the Tsunami Research board of advisors.

“We’ve sought to create an advisory board with both broad entrepreneurial experience and deep technical and industry knowledge,” commented Lozano. “We look forward to leveraging their know-how as we continue to build Tsunami Research into a world-class enterprise software company.”

New Executives Appointed

Tsunami made significant progress in developing its leadership capacity with the addition of two new executives. The company announced today the appointment of Samuel Charrington as vice president of customer development and Harry Orchard as vice president of partner development.

Mr. Charrington, who leads the company’s marketing and direct sales efforts, formerly served as director of business development at San Francisco-based Plumtree Software. While at Plumtree, he made pivotal contributions in a variety of sales and marketing roles as the company grew from pre-revenue to over $80 million in annual income. Most recently, Mr. Charrington has served as a management and technology consultant, advising high-growth technology firms on corporate, product, and marketing strategy.

Mr. Orchard, responsible for the company’s channel sales and strategic alliances, has served in a leadership capacity for two Silicon Valley software companies. As head of business development for Envive, Mr. Orchard helped build the company into a leader in its field. Prior to Envive, Mr. Orchard co-founded Net-Re, an Internet-based exchange serving the reinsurance market. Before Net-Re, Mr. Orchard held several roles at Silicon Graphics, Inc., ultimately managing the company’s business development activities.

“The expertise and experience that Harry and Sam bring to Tsunami will be extremely valuable as we work to expand our market presence,” Lozano noted. “Tsunami’s ability to attract such high-caliber talent is a true testament to the significance of the company’s technology and its ideas.”

New Funding Secured

Tsunami Research announced separately today that it has closed a $2.3 million Series A private placement.

About Tsunami Research

Tsunami Research is the software company pioneering Hive Computing. Hive computing enables customers to achieve dramatic reductions in the cost, time and complexity associated with developing, deploying and maintaining transactional and service-oriented applications. HiveCreator, the first Hive Computing solution, is a software product which enables large numbers of dedicated commodity computers to collectively form a computing environment called a Hive. A hive, inspired by biologic systems, is self-organizing, self-healing and self-maintaining, and is designed to host applications in a highly reliable and extremely affordable manner. The Tsunami Research core team, led by CEO Bob Lozano, previously founded PaylinX and built a real time enterprise payment processing application for handling credit card and other transactions. PaylinX was acquired by CyberSource in 2000 in a deal valued at more than $130M.

Tsunami Research and HiveCreator are trademarks of Tsunami Research, Inc. All other trademarks are held by their respective owners. The aforementioned securities have not been registered under the Securities Act of 1933 and may not be subsequently offered or sold by the investors absent registration or an applicable exemption from the registration requirements.

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Bryan Oekel
Patrick Davis Communications
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