Press Releases

PA EARLY STAGE FUNDS VIPDESK.COM

A Safeguard Scientifics Affiliated Fund Provides Additional Capital

Alexandria, VA, March 10, 2000 – VIPdesk secured additional institutional funding from PA Early Stage Partners, a Safeguard Scientifics' affiliated venture fund. The additional capital investment of $750,000 from PA Early Stage, topped off the first round of funding for VIPdesk at $3.75 million. The round was led by Women's Growth Capital with support from Scripps Ventures, LP, The Dinner Club and other private investors.

VIPdesk provides "live" concierge agents who coordinate personal services and purchases for users on the Internet. The business-to-business-to-consumer service has developed a blue chip partner/client list with a customer base of more than two million people and expects to launch its new Web-based live personal assistance service site this quarter.

"PA Early Stage makes critical early stage investments in promising technology ventures and our team brings to the table an extremely strong network of strategic alliances and relationships that can benefit VIPdesk and our venture partners," said Stephen Amsterdam, managing director, PA Early Stage Partners. "The VIPdesk model that includes providing a network of 'live' agents via the Internet, uniquely enhances the service experience in this industry and we're very excited to be a part of it," Amsterdam continued.

Cal Simmons, chairman of VIPdesk, said the funding would partially be used to support the recruitment effort for VIPdesk's "live concierge" service. "Busy people using our concierge service often want to be able to access a "live" person on the Internet to arrange the details of their request. We believe we are the first to offer this extraordinary service and we are pleased that PA Early Stage recognizes the value of what we are developing," Simmons said.

VIPdesk is leveraging a dozen years of experience in building customer networks to launch the new, 24-hour, robust Internet service that will be supported by concierge agents based in home offices throughout the country. These trained agents, backed by a Web-enabled call center, will use their knowledge and expertise regarding specific geographic areas and regional content. Users can access the service via phone, e-mail, Web or chat, 24 hours a day, seven days a week.

The company offers an unusual employment opportunity for people from varied backgrounds to work from home in an exciting service environment. "We never know what we are going to be asked to find," VIPdesk CEO Mary Naylor commented, "but the speed and efficiency of the Internet combined with this unique personal service will enable us to fulfill our service objective - 'anything, anywhere' - even better than before."

Naylor is also focusing on co-branding with major corporations and organizations that want to offer life-style enhancement benefits to their employees and end-user customers. In addition to e-commerce capabilities for users who want to buy tickets, flowers and gifts, VIPdesk offers reminder services as well as a full range of business and personal request fulfillment features. About PA Early Stage Partners (www.paearlystage.com)

PA Early Stage is a Safeguard Scientifics, Inc. (NYSE: SFE) affiliated venture fund, focused on start-up and early stage investment opportunities. The primary areas of interest for the fund are Information Technology companies focused on software, services, communications and Internet infrastructure. The fund also considers technology companies in microelectronics, life sciences, environment, manufacturing and materials.

About the Women's Growth Capital Fund (www.womensgrowthcapital.com)

The Women's Growth Capital Fund, based in Washington, DC, invests equity capital primarily in early and expansion stage women-owned and/or managed businesses. The Fund has $30 million under management. In addition to VIPdesk, the fund has invested in six other e-commerce companies: womenCONNECT.com, Women.com, BuyerZone.com, Destiny, iDolls and Enfish.

About Scripps Ventures (www.scrippsventures.com)

Scripps Ventures, a $150 million venture fund created by The E.W. Scripps Company, finances early-stage Internet companies in well-defined consumer and business-to-business segments. Since its inception in 1996, the fund has invested in 25 companies focused primarily on e-commerce, content/community and Web-related education.

About The Dinner Club (www.thedinnerclub.com)

The Dinner Club is an early-stage private equity investment club. It joined Silicon Valley's Band of Angels, North Carolina's Tri-State Investor Group and northern Virginia's Capital Investors Group, as non-traditional venture pools. The members of The Dinner Club are active "angel" investors. They range from netpreneuers to venture capitalists and lawyers.

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