AXIGEN Announces 2 Million EUR Investment

Bucharest, November 14th, 2007 – Gecad Technologies, AXIGEN Mail Server developer (http://www.axigen.com) announces today the first round of investment from a consortium of important venture capitals and technology companies such as Global Finance, 3TS-Cisco Growth Fund III and others. The investment amounted to 2 million euro and is equivalent to 11.76% of the Gecad Technologies/AXIGEN shares. “This is the first wave of investment in AXIGEN subsequently targeting an Initial Public Offering (IPO). We are proud that our outstanding technology has caught the eye of first class business investors after only two years of market presence. In short term we are committed to become a worldwide leading messaging solution”, says Radu Georgescu, President of GECAD Group and Chairman of the AXIGEN Board of Directors. The main shareholders after the investment are Radu Georgescu with 88.24% of shares and the consortium with 11.76% of shares. The current share capital of about 3 million...