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August 13, 2000

DICOM, Adobe Systems & Harborvest Partners Invest $12m In Cardiff

COMPANY PRESS RELEASE: DICOM Group Plc announces that it is the lead investor in Cardiff Software Inc. ("Cardiff"), investing US$5m (GBP3.5m) to accelerate the sales of Cardiff's new online eForms and personalization products.

By CBR Staff Writer

HarborVest Partners LLC, a global private equity investment firm and an existing shareholder in Cardiff, is investing in the San Diego California-based company, which delivers Information Capture, eForm and Personalized Interaction solutions, as is Adobe Systems (NASDAQ: ADBE) which has formed a strategic relationship with Cardiff around eForms and Adobe ePaper Solutions.

The $12 million total in new investment funding by the three companies in Cardiff will be used for late stage development and product development.

Cardiff’s Information Capture, eForm and Personalized Interaction solutions work together to replace manual processing with automated online systems, putting information to work more quickly and affordably than ever before. Cardiff’s eTransaction products improve productivity and reduce the operating costs of more than 20,000 corporate and government clients, including leading Global 2000 organizations.

It is the second investment by DICOM in a California-based company this year, the first being the acquisition of the NASDAQ quoted Kofax Image Products, Inc., at the end of January 2000.

The investment by DICOM in Cardiff establishes a strategic relationship between two of the most successful companies that deliver automated information capture and processing solutions. As part of the strategic relationship, DICOM also announced that it has selected Cardiff TELEform as its data collection standard, and will distribute the Cardiff product through its European and Asian channels.

Cardiff has a unique place in the information capture market and is truly complementary to DICOM’s current document capture business, said Otto Schmid, Chairman and CEO of DICOM. He added: This relationship represents an immediate opportunity for DICOM to increase revenue generated by our sales and consulting organizations and we will continue to explore additional ways of working more closely in the future.

HarborVest Partners, an investment group that specializes in high-growth technology companies, closes out this round of investors through continued support of Cardiff.

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We are very pleased with the increase in shareholder value generated by the Cardiff team in the past two years, said Robert M. Wadsworth, Managing Director of HarborVest Partners. He added: The new eForms and personalization products are already showing excellent adoption rates, and promise to keep Cardiff on a strong upward trajectory.

The participation of DICOM and Harbor Vest in this investment round is a combination that significantly validates our business model, said Dennis Clerke, co-founder, President and CEO of Cardiff. He added: DICOM validates our revenue success in the traditional data collection space, while HarborVest validates that the company continues to deliver on the growth in shareholder value.

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