Geneva, June 22, 2000

Nascendo Announces a New Acquisition

Nascendo has announced acquiring an interest in TCI Network SA (TCI), the first European Internet portal dedicated to professional asset managers and private investment advisors. The TCI portal will provide an Internet Suite, products and services targeting the needs of asset management advisors (AMAs) in France and Europe. TCI, an Irish company with offices in Paris, was founded in February 2000. They currently employ 8 people.

The Suite will offer a personalized Internet environment, professional space, client space, reference library and a platform for professional performance analysis. AMAs will also be offered exclusive multi-institutional products including life insurance and credit products, specialized policies for smokers and non-smokers, property related products and securities portfolios. The range of services will include selective insurance, banking, investment, auditing, marketing and network support services. TCI's target audience is made up of more than 4,000 professionals, and six to seven hundred AMAs. The growth potential is significant, and will increase with the planned opening of the portal to the public at large in 2001.

TCI's managing partners are each well recognized in their respective fields of investment banking, corporate law and information technology, and their solid reputations have attracted numerous high level institutions. They are currently raising €1.2 million in their first round of financing, and will have a post valuation of €40 million. Nascent owns 5% of the company.

As an incubator for top-flight entrepreneurs in the IT world, Nascendo secures funding for, invests in and advises European Internet start-ups. Nascendo is managed by directors who are closely connected to the financial world and who have an in depth knowledge of the Internet.