Press Releases

RISINGSTARS GROWTH FUND INVEST IN SHIBDEN LIMITED

19 January 2006

Shibden Limited, a new spin-out from Warwick University, formed to exploit new audio technology, has received funding from the RisingStars Growth Fund, managed by EV.

Whilst the company is saying very little at the moment about the new technology, they confirm that it has come from the work carried out previously, looking at ways to improve the sound quality for consumer electronic products.

Roger Green, the founder and Chief Scientific Officer for the company points out, "We're surrounded by electronic devices that produce sound and we want them to sound better".

Nicholas Jones, MD of Shibden, says, "RisingStars has a great track record in backing high tech companies, especially university spin-outs, and a good investor is vital to the success of a company like Shibden".

Edward French, EV Investment Director, added, "This technology is applicable to around two billion products a year, and the team at Warwick have some great technology to make these better and cheaper."

The company has relocated to the Daresbury Innovation Centre near Warrington following the Fund's investment and is planning to remain closed-lipped about its work for the next year or so whilst it completes key developments and is ready to demonstrate the technology.

NOTES TO EDITORS

About Shibden

Shibden Limited was formed in 2005 with the help of Warwick Ventures¹ to commercialise new technology from the University of Warwick. It is based at the Daresbury Innovation Centre (www.daresburyinnovation.co.uk) which is providing support and assistance as well as space to help the company grow.

Tel 0844 856 0000

E-mail info@shibden.com

About RisingStars Growth Fund

The RisingStars Growth Fund is managed by EV (www.enterprise-ventures.co.uk) and provides early stage finance to high growth technology companies located in the North West of England, at the seed or start up phase, and will also invest at the 'proof of concept' stage. It has backed more than thirty early stage companies and its first investment recently floated on AIM. Companies must demonstrate excellent commercial prospects, and are likely to receive the funding in stages against development milestones. In addition to finance, the Fund offers considerable support and guidance in assisting companies with their strategic, technical and market development.

Tel 01772 270570

E-mail risingstars@enterprise-ventures.co.uk

¹About Warwick

Ventures

Warwick Ventures (www2.warwick.ac.uk/services/ventures) is the Technology Transfer office of the University of Warwick (www.warwick.ac.uk). It has formed more than eighteen companies to commercialise university technology, and has completed dozens of technology licensing deals.