NetSpira secures funding from Bullnet

15 March 2002 - Madrid, Spain

NetSpira has reached a long-term funding agreement with Bullnet, a Spanish Venture Capital firm specialized in the telecom technology and media sectors. This funding will allow NetSpira to further develop its NetSpira GSN product and to build the sales and support organization required for its international deployment.

Jose Lopez, Netspira's CEO, remarked: "We are very pleased to have secured this funding agreement, and it is encouraging to have obtained it in the current difficult market conditions. We can now fully concentrate on carrying out our business plan". Javier Ulecia, Bullnet's Managing Director, added: "We are fully committed to NetSpira. We believe they have just the right mix of technical excellence, down-to-earth business experience and market knowledge to become a successful player in their sector".