Press Release

TEDCO Awards $50,000 to KoolSpan from the Maryland Technology Transfer Fund

COLUMBIA, Md. (March 31, 2003) - The Maryland Technology Development Corporation (TEDCO) (www.MarylandTEDCO.org) today awarded KoolSpan, Inc., $50,000 through its Maryland Technology Transfer Fund (MTTF) program. The funding will support KoolSpan's work to bring to the market a breakthrough authentication and security technology for wireless local area networks (WLAN) that was developed with the University of Maryland MIND Lab.

KoolSpan is working to commercialize the technology of using physical tokens as a way of securely identifying users of WLANs. The portable, tamper-resistant tokens contain encrypted information that identify each participant in the wireless network, solving the security, authentication and network interoperability problems that are found in government, large enterprises and public hotspot providers.

"TEDCO's Maryland Technology Transfer Fund contributes to the vitality of the state's economy by helping to reduce the cost of transferring technology to the business sector," said Maryland State Senator Brian E. Frosh. "The partnerships created between the university research labs and entrepreneurs through this program bring valuable projects to market and ensure that the companies receive the extra funds that they need to grow and thrive long term."

TEDCO, with support from the Maryland Department of Business and Economic Development (DBED), has created a $1 million pool of capital for FY03 for its MTTF program in order to support Maryland companies wishing to develop technology-based products and/or services in collaboration with universities and federal laboratories in Maryland. TEDCO also has created a second capital pool of $1 million for FY03 to support the University Technology Development Fund (UTDF), which provides grants to universities for R&D projects with commercial potential. The UTDF program has been a source of pre-commercial development for university technologies such as that being transferred by KoolSpan from the university to the marketplace.

"This award and the support from TEDCO is significant to KoolSpan, as it will shorten the time to when our product enters the market," said Tony Fascenda, CEO of KoolSpan. "TEDCO's Maryland Technology Transfer Fund is allowing us to accelerate the development of our technology and it will help to expand our commercialization opportunities."

Phillip Singerman, TEDCO's executive director, said, "The MTTF award allows KoolSpan the access, funding and resources to further develop the product it has created with the MIND Lab into a commercially viable product. Part of TEDCO's mission is to foster the development of technology and, through this fund, we are furthering our goal."

Applications for the fund are accepted continually and reviewed monthly by representatives from TEDCO and DBED. Applicants must submit a proposal, a commercialization plan for the technology to be developed and a scope of work and budget.

KoolSpan, Inc., a North Bethesda-based early-stage company, has developed a unique, easy-to-use solution that provides token-based user authentication and Layer 2 security for all wireless local area networks (WLANs). This technology solves the security, authentication and network interoperability problems that are key elements required for the use of 802.11, commonly known Wi-Fi, technology in government, large enterprises and public hotspot providers. KoolSpan's solution can cost-effectively scale from the home and small business user up to carrier-class deployment. Tony Fascenda, CEO, leads an experienced team of wireless industry veterans who bring more than 20 years of experience with companies including Wayport, Aether Systems, Telxon, Mobeo, Newspager Corporation of America and Dataspeed.

The Maryland Technology Development Corporation (TEDCO) was established by the General Assembly as a tool for Maryland to use in maintaining and enhancing its reputation as a leader in technology. TEDCO's mission is to foster the development of a technology economy that will create and sustain businesses throughout all regions in the State of Maryland. Currently, TEDCO has programs that aid and promote state-funded incubators, federal and university laboratories to increase technology transfer and Maryland's eCommerce.

For more information on TEDCO visit www.MarylandTEDCO.org.

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