May 15, 2003

Panel Discussion Topic:
First Quarter 2003 Venture Capital Financing Legal Terms
——————————————————————————————————

Fenwick & West LLP surveyed and reported trends in legal terms in venture financing in the San Francisco Bay Area for all of 2002. These reports have been a primary source of deal trend information for both investors and entrepreneurs. At this event, the two architects of the survey will present the first quarter 2003 results in depth and from many different perspectives. The other panelists will comment on the survey results and their meaning for both investors and companies seeking investment.

Speakers:
Barry Kramer, Partner, Corporate & Securities Group, Fenwick & West LLP
Michael Patrick, Partner, Corporate Group Fenwick & West LLP
Jim Atwell, Partner, Deloitte & Touche
Amos Barzilay, Ph.D., Managing Director USA, Walden International
Terry Garnett, General Partner, Venrock