America Online CTO Barry Appelman Joins Index Ventures Advisory Board; AOL Invested in Index Ventures II, L.P. Earlier this Year

| Source: Index Ventures

GENEVA, Switzerland, Nov. 16, 2001 (PRIMEZONE) -- Index Ventures (SWX:IND), a leading pan-European venture capital firm, announced the addition of Barry Appelman, CTO of America Online, Inc. to the Index Ventures Technology & Scientific Advisory Board. The Index board includes Mike Volpi of Cisco Systems, Thomas Kurian of Oracle and other technology and scientific experts. Earlier this year, AOL Time Warner Ventures joined other leading technology firms as an investor in Index Ventures II, L.P., a $300 million fund. The total amount under management at Index Ventures is $500 million.

Index Ventures' strong track record and deep technology focus has convinced these companies to not only invest in Index Ventures' funds but also to devote significant time in working with the firm. "We view our relationship with Index Ventures as providing an important window into technology opportunities in Europe," commented Barry Appelman, CTO, America Online, Inc. "Index Ventures has assembled a first-class team. I have been impressed with both their technical savvy as well as their understanding of emerging technology markets."

Index has a history of building and leveraging world-class technology and scientific expertise. The pan-European fund not only has solid relationships throughout Europe but also has strong transatlantic ties, which have been built over the past decade. "We are delighted that Mr. Appelman has agreed to join our Advisory Board. His input and expertise will be invaluable to Index Ventures as well as to our portfolio companies. We look forward to working with him as well as our newest strategic investor, AOL Time Warner Ventures," stated Neil Rimer, General Partner, Index Ventures.

"Index Ventures seeks to maximize the value they provide to their portfolio companies and the advisor network is part of that strategy," commented Erik Froberg, CEO of Digiquant. "During the Index Ventures Annual General Meeting this year, they set up strategy workshops for us with the Index team and technology advisors. The discussions were invaluable to me and the other CEOs."

About Index Ventures

Index Ventures is a leading pan-European venture capital fund with $500 million dedicated to investments in high technology and biotech. Index began investing in European technology in 1992 and its core team has been working together to make venture investments in technology companies for over five years. Index is dedicated to working with entrepreneurs to build companies that can become global leaders in their sector. Index Ventures investors include leading technology firms and institutional investors. To learn more about Index Ventures visit

Index Ventures, Geneva
Karen Wilson, Director, Marketing & Business Development
+41 22 737-0000