USD 1 million round VC funding in Softlib completed

Nicosia, Cyprus - June 21, 2004. Athena High Technology Incubator announces the completion of a USD 1 million round VC funding deal in Softlib. Funding will be used to broaden its operations by opening a European subsidiary, establishing an international channel partner program in Europe and the United States and continuing product development. Additionally, the company will be relocating its headquarters from Jerusalem to the Tel Aviv metropolitan area.The funds were raised from co-investors Docor International B.V. and Athena Cyprus Investment Fund. Softlib was identified by Athena High Technology Incubator (AHTI) during the company's roadshow to Israel in late 2002. Since then, AHTI has followed up with the company's progress and worked on the deal along with Docor International B.V. from the beginning to the end.

Softlib’s flagship product, iDoc v2.2, enables technology staff to quickly find needed information frequently buried in volumes of cumbersome vendor documentation. “There is a staggering amount of documentation maintained by technical support and development staff in today’s enterprise. " says Tsahala David, Softlib CEO " These departments are under constant pressure to control costs and improve service levels; iDoc enables the staff to be more productive sooner by quickly and efficiently providing them the information they need via an intuitive interface; all without the costs and complexity of deploying and maintaining traditional search engines. This is just one reason iDoc is the solution of choice for some of Israel’s most complex technology environments.”

About Softlib
Founded in Jerusalem, Israel in 2000, Softlib is an innovative provider of customized technical libraries for the enterprise. The company’s iDoc application is a customized technical library housing all technical and reference manuals used by the enterprise. iDoc v2.2 is currently available in either client/server or web-based versions. Softlib’s clients include Bezeq Telecommunications, several of Israel's largest banks and Israel’s Ministry of Social Affairs. Since its founding in 2000, Softlib has received research and development funding from the Israeli incubator Docor-Shalem Technology Entrepreneurship Center. This early stage involvement and confidence in Softlib and its executives lead Docor to continue its association and facilitate the first round of venture funding.

About Docor International B.V.
Docor International B.V. is a fully owned subsidiary of Crecor B.V. Both Docor and Crecor were formed as wholly owned subsidiaries of the Van Leer Group Foundation to promote and participate in commercial activities in Israel. Currently, these activities include partnerships in two venture capital companies, Inventech and Gemini, and direct investments in twelve companies. Docor's strategy is to become actively involved in the management of the companies in which it invests. While investing in young companies with post-seed technology that is nearly proven, Docor provides an international business network and leverages investments. While staying involved with the companies through their initial stages of growth, Docor provides skilled management support and models professional business conduct.

About Athena Cyprus Investment Fund
ATHENA CYPRUS INVESTMENT FUND LTD (ACIF) was incorporated as a public limited company on February 8, 1996 and was established as a closed-end approved investment fund investing primarily in Cyprus. The company’s shares and warrants were first traded on the Cyprus Stock Exchange (CSE) on May 21, 1996. ACIF, on August 2, 2000 amended its corporate charter expanding from the “Approved Investment Companies” sector to the “Other Companies” sector of the CSE. This provided the company with greater flexibility in its investment policy enabling it to participate in Initial Public Offering funding, venture capital projects, and other forms of investments aiming at high returns.

Athena High Technology Incubator Ltd. (AHTI) is an international for profit business incubator with focus on seed and early stage companies in Information & Communication Technologies (ICT). Through its infrastructure, provision of value added services, close ties with venture capitalists and partnerships with internationally acclaimed organizations, AHTI steers the tenant companies operationally and strategically so as to accelerate their development and drive them to sustained, profitable growth. For more information, please contact Svetlana Kalogera.