Private Equity Week Wire for Thursday 3-7

DALLAS — Hicks, Muse, Tate & Furst Incorporated today announced that Charles W. Tate, a Partner of the firm and one of the four members of its Management Committee who played a key role in its growth, success and global expansion over the past decade, will retire from the firm as of June 30, 2002. Mr. Tate will continue to represent HMTF as a board member with respect to four of the firm’s investments: Emergent Genetics, Inc., a private equity investment firm focusing exclusively on hybrid seed and related biotechnology; International Wire Group, a leading manufacturer of bare and insulated copper wire and wire harnesses; and two of the firm’s investments in Mexico, Minsa, a leading corn flour miller; and Vidrio Formas, a supplier of proprietary glass containers to the Mexican tequila, food and pharmaceutical industries.

Mr. Tate, 57, joined the firm as a Partner in 1991, two years after its formation, when it was known as Hicks, Muse & Company. In 1994, the firm was renamed Hicks, Muse, Tate & Furst Incorporated in recognition of the significant contributions of Mr. Tate and of the firm’s fourth name partner, Jack D. Furst.

TUCSON, AZ — NewMonics, Inc., a leading supplier of advanced Java-based solutions for embedded systems, today announced it has completed a $2.6 million preferred round of investment from Tucson Ventures. Other investors include Arch Venture Partners, APV Technology Partners, Dynafund Ventures, Venture Investors and Intel Capital.

FRANCE — Ipanema Technologies, a leading provider of systems for the complete management of the applications performance over IP networks, today announced the completion of a 10 Million Euros financing round led by Net-Partners. Ipanema Technologies has been recently selected by venture capital firms as one of the top 10 most promising companies.

New investors for Ipanema Technologies include worldwide leaders in capital investment: Net-Partners (European venture capital firm) and DrKW (Dresdner Kleinwort Wasserstein), the investment bank of Dresdner Bank AG. Committed since the first round of financing in August 2000, investors 3í, a European leader in venture capital; Vertex, a high technology fund based in Singapore; and T-Venture, a Deutsche Telekom capital venture subsidiary, have renewed their confidence in the future of Ipanema Technologies by participating in this second round of financing.

FLEMINGTON, NJ — Flemington Pharmaceutical Corp. (OTC Bulletin Board: FLEM) (“Flemington” or “the Company”) announced today that it closed on an additional $2 million investment by Dr. Lindsay Rosenwald through Biomedical Investment Group LLC.

CHICAGO — The Illinois Venture Capital Association (IVCA) announced that it has elected Bret Maxwell as chairman of its board of directors, replacing Carl Thoma, who was named chairman emeritus.

Maxwell is the managing general partner of MK Capital (Chicago) and managing general partner of the ‘Productivity Funds (Chicago). He has been with the IVCA since its inception in January of 2001 and was its vice- chairman. Thoma is a partner and founder of Thoma Cressey Equity Partners, Inc. (Chicago). He currently manages the venture capital portfolio of the former Golder, Thoma, Cressey, Rauner and Thoma Cressey Equity Partners.

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