xdrivenews12042000

http://www.xdrivetechnologies.com/company/newsroom/pr_20001204_461.html

XDRIVE TECHNOLOGIES SECURES $50 MILLION FROM STRATEGIC PARTNERS IN TURBULENT VENTURE MARKET

Series D Investors Include StorageNetworks, Network Appliance, Aether Systems, Mitsubishi Corporation, NEC Corporation, Goldman Sachs Group, Wit SoundView Ventures, J. & W. Seligman & Co. Inc., Pilot House Associates and SOFTBANK Corp.

Santa Monica, Calif. - 12/04/2000 -- Xdrive Technologies, Inc. (www.xdrive.com), a leading provider of infrastructure software and services that enable intelligent information access and management, today announces $50 million in secured Series D funding. Investors included StorageNetworks [NASDAQ: STOR], Network Appliance [NASDAQ: NTAP], Aether Systems [NASDAQ: AETH], Mitsubishi Corporation [NASDAQ: MSBHY], NEC Corporation [NASDAQ: NIPNY], Amos Hostetter’s Pilot House Associates (co-founder of Cablevision and AT&T director) and SOFTBANK Corp. [Tokyo Stock Exchange: 9984]. Reinvesting in Xdrive Technologies in this strategic round were Wit SoundView Ventures, an affiliate of Wit SoundView Group [NASDAQ: WITC], Goldman Sachs Group [NYSE: GS] and J. & W. Seligman & Co. Inc, among others. The current round of financing brings Xdrive Technologies’ total financing to more than $120 million.

The investment underscores the trend in the investment