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Coopers & Lybrand Survey

March 07, 1997

In its annual Money Tree Survey of venture firms, Coopers & Lybrand, which also tracks venture capital activity, reported greater growth in 1996 than Price Waterhouse did. According to this survey, venture capital investment reached $10.1 billion in 1996. Surveyed venture firms participated in 2,163 deals during 1996. The average size of each financing rose in 1996 to $4.7 million, up from the $4.3 million average investment reported in 1995.

Coopers & Lybrand, which reported information only for the top 12 states, ranked the states in the following order:

State (millions of $) California 3,211.3 Massachusetts 1,067.4 Texas 595.3 Colorado 392.7 Florida 375.9 Illinois 343.9 Connecticut 314.7 Pennsylvania 307.0 Washington 294.7 Virginia 275.7 New Jersey 264.3 Tennessee 261.5

From an industry standpoint, technology- based companies received approximately 60 percent of total venture capital investment in 1996. The industry sectors with percentage of total investments were:

Industry Sector Percentage Communications 16% Software 16% Healthcare 11% Medical devices 7% Electronics 7% Biotechnology 6% Retail 6% Consumer products 5% Radio/TV 3% Multimedia 2% Other 21%

The surveys also indicate the most active venture capital firms in 1996.

For more information on the Price Waterhouse survey, call Don McGovern at 203/358-0001 or visit their Web site at http://www.pw.com/vc/ For more information on the Coopers & Lybrand survey, call 617/478-3457 or visit their Web site at http://www.colybrand.com/industry/ vcwwwq4.html#chart2