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Tropos Networks Receives Funding from Intel Communications Fund

Posted on: Monday, 16 June 2003, 06:00 CDT

SAN MATEO, Calif.--(BUSINESS WIRE)--June 16, 2003--

Intel Joins Investor Team That Includes Benchmark Capital,

Boston Millennia Partners, Hanna Ventures and Voyager Capital

Tropos Networks(TM) today announced that it has received an investment from the Intel Communications Fund. Financial details are not being disclosed. Tropos and Intel also plan to participate in joint marketing activities.

Tropos manufactures systems used to build metro-scale Wi-Fi networks. Tropos' cellular Wi-Fi products enable network operators, service providers and government departments to provide ubiquitous, metro-scale, broadband, wireless data coverage for users in any locale.

The investment by Intel Communications Fund is part of its $150 million commitment to invest in companies whose technologies will accelerate the worldwide adoption of Wi-Fi (IEEE 802.11) wireless networks.

Tropos will use the new capital to fuel its growth in the metro-scale Wi-Fi networks market by augmenting and accelerating engineering, sales and marketing efforts.

In addition to the investment Tropos received from the Intel Communications Fund, the company announced in February that it raised $8.3 million in funding from Benchmark Capital, Boston Millennia Partners, Hanna Ventures and Voyager Capital.

"Intel is committed to proliferating Wi-Fi capabilities worldwide," said Sean Maloney, Intel executive vice president and general manager of the Intel Communications Group. "This investment is part of Intel Capital's strategy of building an ecosystem of complementary technologies that help drive demand for Intel's mobile computing products. Tropos Networks' technology has the potential to significantly increase Wi-Fi coverage and allow wireless connection in places previously unreachable by broadband."

"Tropos and Intel share a vision for Wi-Fi everywhere," said Dave Hanna, Tropos Networks' Chairman and CEO. "Cellular Wi-Fi will quickly accelerate the expansion of Wi-Fi's footprint by moving it beyond hot spots, which are similar to pay phones in the telephony world, to anytime, anywhere availability in coverage areas similar to those of cellular telephone service."

Tropos' cellular Wi-Fi products transform Wi-Fi into a scalable, reliable infrastructure by layering intelligence on top of Wi-Fi to create a new class of products, Wi-Fi cells. Wi-Fi cells self-organize and, using wireless backhaul, forward data to each other along the optimal path to a wired network connection. Tropos' system enables economical, metro-scale Wi-Fi by eliminating the need for each Wi-Fi node to have a wired connection.

About Tropos Networks, Inc.

Tropos Networks, Inc. is a leading supplier of systems used to build metro-scale Wi-Fi networks. Tropos' products enable network operators, service providers and government departments to provide ubiquitous, metro-scale, broadband, wireless data coverage for users in any locale. Tropos' solution creates a truly wireless network, free from the requirement of per node wired connectivity associated with Wi-Fi hot spot deployments using access points. Tropos' products enable larger coverage areas, decreased installation costs and decreased operational costs. Formerly FHP Wireless, Inc., Tropos is headquartered in San Mateo, California. For more information, please visit www.troposnetworks.com, call 650-286-4250 or write to info@troposnetworks.com.

About the Intel Communications Fund

The $500 million Intel Communications Fund, managed by Intel Capital, was established in September 1999 and focuses on accelerating Intel voice and data communications and wireless networking initiatives. The fund targets companies developing basic communications and semiconductor components and boards, real-time operating systems, software tools and utilities, system level hardware and software, and wireless network services and channels. The Intel Communications Fund has made more than 80 investments in 17 countries on five continents. For more information about the fund, visit www.intel.com/capital/portfolio/funds/icf.htm.

Tropos Networks is a trademark of Tropos Networks, Inc. All other brand or product names are trademarks or registered trademarks of their respective holder(s).

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