Strategic Partners Invest $50 Million in StorageApps; Bowman

 Capital, Dell, Enron Broadband, LSI Logic, 
StorageNetworks and Others Invest  
Business Editors/High-Tech Writers  
BRIDGEWATER, N.J.--(BUSINESS WIRE)--Nov. 13, 2000--StorageApps, a 
provider of network storage appliances and software applications, 
today announced the completion of a $50 million strategic financing 
round led by Bowman Capital. The investment comes from a group of 
investors and customers, including Bessemer Trust, Bowman Capital, 
Dell Ventures, Enron Broadband Services, LSI Logic Storage Systems, 
and StorageNetworks, Inc.  
This round brings the total invested in StorageApps for the year 
to $75 million and adds to the current list of strategic partners that 
includes The Blackstone Group and Soros.  
"We are delighted with the commitment demonstrated by the 
investment of our strategic partners in StorageApps and are pleased to 
have many of them as customers, too," said Dan Petrozzo, president and 
chief operating officer of StorageApps.  
StorageApps appliances and applications enable customers to 
connect virtually any type of storage devices with any servers over 
any connection type. The company provides 24-hour, 7-days a week 
service to worldwide customers that range from Fortune 100 companies 
in financial services to dot.com and hosting companies. More 
information on StorageApps and its Proactive Network Storage Solutions 
portfolio is available at www.storageapps.com.  
Background on the Investors  
The Bessemer Group and its subsidiaries (www.bessemer.com) form a 
wealth-management and investment advisory firm serving high-net-worth 
individuals and select institutions since 1907.  
Bowman Capital (www.bowmancapital.com), an investment firm in 
Silicon Valley with offices in London and New York, specializes in 
both public and private technology growth companies.  
Dell Ventures is the business group at Dell Computer Corporation 
(Nasdaq: DELL) responsible for strategic investment activity and for 
incubating early-stage private companies. Dell Ventures makes 
strategic investments that support Dell's business initiatives 
regarding new technologies, services or customer markets.  
Enron Broadband Services (www.enron.net), a subsidiary of Enron 
Corp. (www.enron.com; NYSE: ENE), is a leading provider of 
high-quality, high-bandwidth delivery and application services. Enron 
Broadband is also creating a market for bandwidth that will allow 
network providers to scale to meet the demands of increasingly complex 
applications. Enron is one of the world's leading electricity, natural 
gas and communications companies.  
LSI Logic Storage Systems, Inc., a subsidiary of LSI Logic 
Corporation (www.lsilogic.com; NYSE: LSI), is a provider of 
high-performance, highly scalable, open storage solutions for the 
enterprise that are available under the MetaStor brand name 
(www.metastor.com).  
StorageNetworks, Inc. (www.storagenetworks.com; NASDAQ: STOR) is 
the world's first Storage Service Provider (SSP). StorageNetworks 
makes managed data storage as accessible as phone or electric utility 
services. This allows enterprises with large and rapidly growing 
volumes of business-critical information to store, protect and access 
it more easily, reliably and efficiently, while allowing them to focus 
on growing their business.  
StorageApps and the "Diamond S" logo are trademarks of StorageApps 
Inc. MetaStor is a registered trademark of LSI Logic Storage Systems. 
StorageNetworks is a servicemark of StorageNetworks, Inc. Other 
tradenames and trademarks used herein are the property of their 
respective owners. 
 
 
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