Silicon Valley Bank Establishes Seed Capital Practice to Serve Early-Stage Investors and Startups

Santa Clara -- May 31, 2001 -- Silicon Valley Bank (the "Bank"), a wholly owned subsidiary of Silicon Valley Bancshares, announced today the establishment of the Seed Capital Practice. The Practice will operate under the guidance of Vice Chairman Harry W. Kellogg and Professional Services Division Manager Steve Empey, with John P. Flinn serving as director.

The Seed Capital Practice will provide uncompromised personal service and expertise to angels, early-stage venture capitalists, emerging growth technology and life sciences companies and the business and academic communities as a whole. The Seed Capital Practice will facilitate introductions and networking opportunities between quality startup companies and early-stage investors, provide assistance with syndications as well as market intelligence and research to the early-stage investment community, while providing individual credit facilities to angel investors and general partners.

"Silicon Valley Bank provides value to our high tech and life sciences client base not only through our core financial products and services, but through our extensive network and intimate relationships with angels, early-stage venture capitalists, institutional venture capitalists, investment banks and best of breed service providers," said Flinn. "The Seed Capital Practice will strengthen these networks by concentrating on the Bank's relationships with early-stage investors, given the gap in equity funding created by the institutional VCs' success over the last three years."

Flinn has more than 10 years of experience in corporate finance, underwriting public and private securities, syndications, mergers and acquisitions, international cash management and industry trend analysis while with BancAmerica Securities, LLC. Prior to joining Silicon Valley Bank in 1998, Flinn also served as a market maker in the Microsoft Options Pit on the floor of the Pacific Stock Exchange in San Francisco. Flinn earned a bachelor's degree in business and economics from Willamette University in Salem, Oregon.

Silicon Valley Bank serves emerging growth and middle market companies in targeted niches, focusing on technology and life sciences, while also addressing other specific industries in which it can provide a higher level of service and better manage credit through specialization and focus.

The Bank operates throughout the Silicon Valley: Santa Clara, Palo Alto and Sand Hill, the center of the venture capital community in California. Other regional offices within California include: Irvine, Los Angeles, Napa Valley, San Diego, San Francisco, Santa Barbara, and Sonoma. Office locations outside of California include: Phoenix, Arizona; Boulder, Colorado; West Palm Beach, Florida; Atlanta, Georgia; Chicago, Illinois; Boston, Massachusetts; Minneapolis, Minnesota; Durham, North Carolina; Portland, Oregon; Philadelphia, Pennsylvania; Austin, Texas; Dallas, Texas; Northern Virginia; and Seattle, Washington. More information on the Bank can be found at www.svb.com.

SVB Contact: Andrea McGhee, (408) 654-3078, amcghee@svbank.com.