[May 24, 2005]

TELUS Ventures Funds Brix�s Recent Round

BY JOHANNE TORRES

VoIP performance management provider Brix Networks announced today it scored $1.5 million in venture capital funding from a new investor, TELUS Ventures. TELUS Ventures is the corporate venture capital arm of TELUS Corporation, a long time Brix customer and one of the leading telecommunications companies in Canada. With this investment, TELUS Ventures joins Castile Ventures, Charles River Ventures, ComVentures, Fidelity Ventures, Partech International, and STAR Ventures as one of the backers of the growing VoIP management company.

"We are impressed by Brix Networks' market leadership, range of solutions, customer list, and the strength of its management team," said Mathew George, vice president, portfolio management, at TELUS Ventures. "The company's next-generation network management solutions are an excellent fit with our strategic mandate of investing in high-potential companies whose offerings complement or greatly enhance TELUS' own capabilities, allowing us to better serve our customers' ever-evolving needs."

"As one of Canada's foremost telecom companies, TELUS leverages the benefits of innovative products like ours to deliver high-value, IP-based voice, video, and data services to their residential, business, and mobile customers," said Tom Pincince, president and CEO of Brix Networks.

TELUS Ventures' move tops off Brix’s most recent round of funding at $6.5 million. Brix said it will use the funds to further accelerate its sales, marketing, and product development initiatives. Brix has raised approximately $61.5 million in five rounds of financing since its inception in July 1999.

Today’s news follow Brix’s recent announcement about Richard (Rick) Chavez joining the company as vice president, strategy and corporate development. Reporting to Brix Networks' president and CEO, Tom Pincince, Chavez is now responsible for identifying new market and product opportunities, developing additional revenue streams, enhancing the company's visibility and stature with current and prospective partners, and designing Brix offerings that drive growth opportunities for large systems integrators.

"Rick is an innovative strategist who brings a wealth of operational, analytical, messaging, and entrepreneurial experience to the company," stated Pincince. "With the increased importance and role that partners and systems integrators play in our market, Rick fills a key position at this point in our history and is a strong addition to our already exceptional senior management team."

TELUS
www.telus.com

Brix Networks
www.brixnet.com