IN-Q-TEL NAMES WILL JOHNSON PARTNER

May 17, 2006

In-Q-Tel, the independent strategic venture capital fund that identifies innovative technologies to support the mission of the Central Intelligence Agency (CIA) and the larger Intelligence Community, today named Will Johnson a Partner.

“This is great news for our team,” said Scott Yancey, President and CEO of In-Q-Tel. “Will brings a valuable mix of entrepreneurial and early stage technology investment experience to In-Q-Tel and has a rare talent to see where technology is moving and how it will impact markets. This promotion capitalizes on the collective expertise of our venture team and reflects In-Q-Tel’s ongoing commitment to its end game – delivering cutting-edge technologies to our government partners.”

Prior to joining In-Q-Tel as a Principal on its venture capital team based in Silicon Valley, California, last year, Mr. Johnson was with JP Morgan Partners, where he focused on enterprise software and was a founding member of the firm’s software investment practice. Formerly, Mr. Johnson worked in the technology consulting practices of both Andersen Consulting and Ernst & Young.

“I am delighted to be named Partner,” said Johnson. “In-Q-Tel has a strong and well-respected venture team, and I look forward to continuing In-Q-Tel’s success of identifying, developing, and deploying innovative technologies that meet present and future intelligence needs.”

As a Principal at In-Q-Tel over the past year, Mr. Johnson sourced and researched dozens of prospective deals and led In-Q-Tel’s investments with Nextreme Thermal Solutions, a pioneer in embedded thermoelectric components; and Initiate Systems, the leading provider of customer data integration (CDI) and enterprise master person index (EMPI) software. He will continue to actively participate in their board-related activities. In his new role as Partner, Mr. Johnson will also source new opportunities for In-Q-Tel and its strategic partners in addition to helping In-Q-Tel’s portfolio companies execute their business plans.

Mr. Johnson holds a BS in Finance with Distinction from the University of California, Berkeley, and an MBA with High Honors from the University of Michigan Business School, where he was a Dean’s Fellow and a founder of the Wolverine Venture Fund. He serves on the advisory board for the Wolverine Venture Fund at the University of Michigan.