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June 21, 2001

StorageWay Receives $42 Million In New Equity Investment

StorageWay, the leading storage utility service provider, today announced that it has raised $42 million in new equity investment from leading venture firms and technology companies. This brings the total equity investment to $98 million, with a cumulative total of $150 million in equity and lease financing since StorageWay\'s inception in October 1999. StorageWay will use this funding to expand its service offerings, build on its Liquid ArchitectureSM technology and extend its network infrastructure.

Leading the new investment are Matrix Partners and Redpoint Ventures. Others include GE Equity, Lighthouse Capital Partners, Montreux Equity Partners, Needham Capital Partners, Sands Brothers, Wheatley Partners and Worldview Technology Partners.

Information about StorageWay is available by calling 1-877-438-8998 or on the Web at The equity securities sold by StorageWay in this round of financing have not been registered under the Securities Act of 1933 and have been sold pursuant to an exemption from the registration requirements of such act.

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