New Round Reflects Excitement in On-Demand Computing

Ottawa, ON - March 9, 2004 - Trigence Corp. announced today that it has closed $5.5 million CDN ($4.1 million US) in a new round of financing. With this round, Trigence is positioned to move aggressively into the fast-growing market for on-demand UNIX/LINUX computing, particularly distributed application resource management.

VenGrowth Capital Partners and BDC Venture Capital co-led this round, which included a follow-on investment by Axis Investment Fund. This new round of funding builds upon previous financings provided by Axis, Sbemco International, Inc. and several private investors, bringing the total investment to-date to $7.2 million CDN ($5.4 million US). The new funds will be used to fuel sales, marketing and product development.

"Trigence is tapping into the booming growth of both LINUX and on-demand computing by enabling large data centers to achieve guaranteed service levels, manage the application life cycle and reduce operating costs," said Ron Warburton, director, BDC Venture Capital. "The Trigence solution is very useful for IT departments managing mission-critical applications (such as banks and financial institutions) who need their systems up and running continuously."

"This financing enables us to build out our go-to-market strength and boost our technology development," said Chuck Colford, CEO and co-founder of Trigence. "The reactions of our early customers to Trigence's value proposition have been very enthusiastic. With Trigence AE, data center managers can manage applications according to the demand of users, rather than according to the limitations of their infrastructure capacity. The result is applications that are always available on-demand."

"Trigence has all the right ingredients for accelerated success," said Peter Carrescia, general partner with VenGrowth Capital Partners. "They have a disruptive, innovative approach to distributed application resource management for on-demand computing. Trigence is already creating excitement in the industry and among early customers. That excitement combined with a seasoned management team and the support of key financing partners positions Trigence for success."

About VenGrowth Capital Partners

VenGrowth, established in 1982, is one of Canada's premiere venture capital firms and has approximately $1 billion in current assets under management. VenGrowth brings a hands-on investment style and a significant amount of expertise, experience and resources to its investees. VenGrowth focuses on semiconductor, communications, enterprise software, and Internet infrastructure investments. For more information visit www.vengrowth.com.

About BDC Venture Capital

Established in 1983, BDC Venture Capital manages a $450 million portfolio invested in over 130 companies across Canada. BDC targets high growth companies in the telecommunications, life sciences and software fields with investments ranging from seed to mezzanine financing. BDC Venture Capital assists its investee companies with senior executive experience in the areas of sales, marketing, business development, production and research. Notable investments include Tundra Semiconductor, SiberCore, Octiga Bay, Creo Products, PixStream, Philsar and Tarian Software. For more information visit www.bdc.ca.