Hamburg, Munich, November 6, 2007. Earlybird is pleased to announce two more successful exits: Tipp24 AG and AbaXX Technology AG. These two exits follow the sale of Alantos Pharmaceuticals to Amgen (NASDAQ: AMGN) for $300m in June 2007 and the sale of the remaining shares of Interhyp at the beginning of this year - Interhyp returned more than 50x the original Earlybird investment.

At the end of October 2007, Earlybird sold its remaining shares in Tipp24 AG, which is listed on the Prime Standard in Frankfurt, Germany. Tipp24, Germany’s leading Internet provider of Lotto, Oddset, and other government licensed gaming products, floated in October 2005 which was 15x oversubscribed. Earlybird provided the early stage financing to Tipp24 in 1999 and led the second round of financing in 2000. Earlybird went on to further support the company by selling 45% of its shareholding when the company floated. Following the IPO, Earlybird held about 20% in Tipp24. Overall, Tipp24 returned more than 20x the original Earlybird investment.

At the beginning of November 2007, the Dutch software company, Cordys, acquired the Earlybird portfolio company, AbaXX Technology AG. Earlybird provided the early stage financing in 2000 with 3i as co-investor which was followed by three more financing rounds in which 3i and Bay Tech also invested.

“Over the last eight years, AbaXX not only developed a technologically leading process management platform but also established a significant customer base including BMW Financial Services, DKB Bank, EADS and DaimlerChrysler Bank”, comments Roland Manger, Managing Partner of Earlybird.

Please see further information on www.earlybird.com and the attached press release issued by Cordys.

About Earlybird:
Earlybird Venture Capital, established in 1997, is one of Europe´s leading technology investors. With approximately €370 million under management, Earlybird seeks to invest in European technology enabled high growth companies which are driven by outstanding management teams backed by international syndications to broaden the access to customer and capital markets. Earlybird invests primarily in early stage technology companies which have their origins in Europe and the current investment focus on software, semiconductor, communication, cleantech, medtech and biotech platform technologies.

The Earlybird team creates value by understanding their target investment sectors well and working closely with each management team. Earlybird strongly supports the development of each company by professionalizing and shaping management teams, providing strategic and product advice, creating international investor syndicates, effecting corporate introductions and being closely involved in achieving appropriate exits.

Six of Earlybird’s high-tech investee companies have floated on various European stock exchanges over the last two years: Interhyp, Tipp24 and Wilex (all Prime Standard, Frankfurt), Esmertec (Swiss Exchange, Zurich), Entelos (London Stock Exchange) and NoemaLife (Borsa Italiana, Milan). In addition, Earlybird supported element 5 in its acquisition by Digital River, Identify in its acquisition by BMC Software, Alantos in its sale to Amgen for $300m and AbaXX in its sale to Cordys.

For further information, please contact:

Daniela von Wedel
vonwedel@earlybird.com
Earlybird Venture Capital
Van-der-Smissen Str. 3
22767 Hamburg
Germany
Telephone: +49 40 432941-0
Fax: +49 40 432941-29

www.earlybird.com

    Cordys-abaXX press release_FINAL.pdf