Monday November 13, 1:03 pm Eastern Time

Press Release

SOURCE: Digital Creations

Digital Creations Closes $12 Million in C Round Financing; Whitney & Co. Leads Strategic Investors Including Intel 64 Fund And Opticality Ventures

NEW YORK, Nov. 13 /PRNewswire/ -- Digital Creations, a leading provider of Open Source web application services, today announced that it has closed a $12 million C round funding. Whitney & Co., a major investor in innovative Internet, e-commerce, business-to-business and software development companies, leads with other strategic investors, including Intel 64 Fund and Opticality Ventures I, LP.

``Zope (Digital Creation's signature development platform) is a leading Open Source web application server that enables teams to collaborate in the creation and management of dynamic web-based business applications such as intranets and portals,'' said Rob Page, co-founder and COO of Digital Creations. ``The market for our technology and services solutions, has dramatically expanded over the last year. Digital Creations possesses the technology and time-to-market advantages customers demand, and is geared to deliver quickly, efficiently and cost-effectively.''

``Digital Creations has executed flawlessly in their quest to deliver premier web applications solutions to an impressive roster of customers that includes the Navy, Zap Media, and HomeGain, leveraging Zope's time-to- market advantage over all competitors,'' says Jeffrey Jay, General Partner at Whitney & Co. ``They continue to innovate and deliver. Digital Creations consistently meets the demands of its customers, and we are delighted to be a part of this team which is helping shape the future of highly dynamic, interactive web-based services.''

Digital's C funding round will be used to scale and build significant strategic partnerships.

About Digital Creations

Digital Creations, based in Fredericksburg, Virginia, with offices in Rochester, New York and Portland, Oregon, combines pioneering ideas and powerful software to deliver definitive web solutions. Doing business with Digital Creations means having next-generation web applications (e.g. content management, portals, workflow, XML engines, and community building). It also means having powerful solutions with premier time-to-market advantages and lower risk, high-performance, scalable, reliable answers for massive websites performed by professionals, executing via standards-based analysis and design. Zope, its world recognized development platform, makes it easy to build features such as site search, news, personalization, and e-commerce into web applications.

Digital's innovations have also attracted a growing list of investors including Intel Capital, and Opticality Ventures I, LP. For information on Digital's innovative solutions, visit http://www.digicool.com. For more information about Zope, the leading open source application server, visit http://www.zope.com.

About Whitney & Co.

Whitney & Co. is a diversified global manager of alternative assets with over $5 billion invested in private and public equity and debt. The Firm, founded by John Hay Whitney in 1946, pioneered the venture capital business and has evolved from a top US venture firm with $10 million under management to what it is today. There are over 130 investment professionals located in the Stamford, Connecticut headquarters, as well as in six other offices in leading financial centers around the world: San Francisco, Boston, London, Tokyo, Hong Kong, and Singapore.

About Intel 64 Fund

The Intel 64 Fund is a quarter billion dollar equity fund that invests in emerging technologies for next-generation servers and workstations utilizing Intel's IA-64 architecture. The Fund is coordinated by Intel with Compaq, Dell, HP, Intel, NEC, and SGI as co-investors. The Fund's other investors, managed by Morgan Stanley Dean Witter, include Bank of America, The Boeing Company, Circuit City, Enron, Ford Motor Company, General Electric, McKessonHBOC, Morgan Stanley Dean Witter, Reuters, Sabre, SmithKline Beecham, Sumitomo Corp., SunAmerica and Telmex. Additional information about the Intel 64 Fund is available at http://www.intel64fund.com.

About Opticality Ventures

Opticality Ventures (OV) is a venture capital firm focused on investments in private technology companies, particularly those involved in the Internet, finance, e-commerce, business-to-business and software development concentrating on programming tools, development environments, distributed object systems and programming languages. OV helps companies succeed as profitable stand-alone private or public entities, refining business strategies, technology implementations, market approaches, building partner and client relationships. Contact Opticality Ventures at http://www.opticality.com .