Baltimore, Md. June 10, 2003 Baltimore Venture Mentors (BVM), a philanthropic organization that coaches early-stage companies, announced today that it has added three executives from the Greater Baltimore area to its leadership team: Ann Lansinger, Chris Foster and Denise Kitchel. Having mentored 22 companies since its inception in late 2001, BVM has also revised its coaching methodology to further assist start-ups seeking counsel on various facets of business, including business modeling, operations, finance, legal, sales, and other areas critical to the growth of young companies.

BVM Expands Leadership Team

Ann Lansinger is the executive director of Baltimore's Emerging Technology Centers and director of technology development for Baltimore Development Corporation (BDC). In this two-pronged role, she oversees Baltimore City's technology incubator network, comprising three facilities totaling close to 125,000 square feet. Lansinger is credited with reorganizing and rebuilding the Baltimore City incubator system into a thriving program. She was also responsible for the launch and sustained growth of the University of Maryland Baltimore County's incubator program from 1989 through 1997.

Chris Foster is the state technology coordinator at the Maryland Department of Business and Economic Development (DBED), where he is collaborating with numerous statewide technology councils, research facilities and the Maryland Technology Development Corporation (TEDCO) to drive entrepreneurial growth in Maryland. With an extensive background in software design, Web applications and engineering, immediately prior to joining DBED Foster was president and CEO of Professional Development Solutions, an online healthcare benefits administration software company.

Denise Kitchel is vice president and director of corporate development for Planit, a Baltimore-based integrated brand communications agency. She helps build client communications strategies and steers the agency's growth. Prior to Planit, Kitchel worked in various public relations and marketing management roles in Atlanta and New York City. As director of marketing for an Atlanta PR and marketing firm, she was a key player in the launch of a business incubator and accelerator that operated as a division of the firm.

"We are thrilled to have such a diversely talented and accomplished threesome join the Baltimore Venture Mentors team. The skills and experience that Ann, Chris and Denise bring to the table will help us take BVM to the next level of coaching and mentoring qualified young companies in our region," commented John Kirby, founder and managing director of BVM.

BVM Unveils New Coaching Methodology

In response to feedback from the 22 young technology companies that participated in BVM's inaugural year, BVM has also implemented a new coaching methodology. In this new program, companies chosen to participate - portfolio companies - will be assigned a mentor whose background and expertise matches the needs of the portfolio company. The mentor is responsible for helping the portfolio company develop milestones and metrics, which are then presented to a broader BVM team that either approves or modifies the goals. With goals in place, the assigned mentor works with the portfolio company to achieve the goals over a six-month time period. Throughout the coaching relationship, the mentor taps BVM team members for assistance as needed. The relationship culminates in a portfolio company final presentation to the BVM team outlining progress and accomplishments.

"Our mission is to help companies either get off the ground or clear hurdles impeding their growth," explained Kirby. "The old coaching methodology was helpful, but we felt there was so much more we could do to help young companies negotiate key inflection points. Our BVM team has incredible intellectual capital and years of hands-on experience. Our new methodology will allow us to more effectively deploy the talents of our team, while taking on fewer companies throughout the year."

BVM anticipates an active portfolio of six to seven companies every six months, totaling 12 to14 companies per year. The number of companies previously served in one year was 22. It is estimated that each portfolio company will receive more than $10,000 of in-kind counsel from the BVM team.

About Baltimore Venture Mentors

Founded in 2001, Baltimore Venture Mentors (BVM) is a pro bono, interdisciplinary team of 25 business executives whose mission is to shape, focus and accelerate early-stage companies for the betterment of the Greater Baltimore business community. BVM advises companies in the biotechnology, information systems and software, wireless, and telecommunications sectors. For more information, or to complete an online application to be considered as a prospective BVM portfolio company, visit www.baltimoreventurementors.com.

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