Bryan, Garnier & Co successfully raised a EUR 8 million Private Placement for esual, a leader in the Executable Internet market

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London – May 16th, 2002 –  Bryan, Garnier & Co (www.bryangarnier.com), a pan-European, independent investment bank focusing on European growth companies, announced today that it has successfully completed a EUR 8 million private placement for esual (www.esual.com), a leader in the emerging Executable Internet market.

The round was led by the European venture capital company b-business partners. As a result of this transaction, b-business partners will now become the lead investor in esual. The other investors in this funding round include existing French investors Ventech, Siparex and CIC.

Created in 1998 and headquartered in Paris France, esual’s software brings desktop application functionality and performance to Internet delivered applications, without the use of plug-ins. By transferring key web application processing from the server to the client and making use of previously under utilized PC processing power, internet, intranet or extranet applications benefit from increased functionality and improved performance at the user end and importantly reductions in bandwidth and close to zero maintenance for IT directors. esual was ahead of the market in recognising the limitations of the browser-based interface to internet applications and the potential of the Executable Internet approach. The Company has successfully built an international installed base of over 100 largely blue chip companies and opened offices in the UK and the US.

Commenting on the announcement, Bruno Saint-Cast, CEO of esual said: “The Company has already built a best in class product portfolio and gained a strong customer base including blue chip corporations such as VW, Peugeot, Xerox, Siemens and Wstore. This investment gives us the resources to further expand our international business and positions us for leadership in the enterprise market.”

Speaking today Gregoire Revenu, a Bryan, Garnier & Co Managing Director in Corporate Finance, said: “In spite of the general economic slowdown that is affecting the software industry, we have succeeded in bringing in an international investor, with the corporate shareholder base necessary to help accelerate esual’s growth. Bryan, Garnier & Co will keep supporting the company in its expansion strategy, in accordance with our commitment to our clients.”

This placement illustrates Bryan, Garnier & Co’s unique positioning and ability to bring together best of breed technology companies with international venture capitalists in order to support growth companies in Europe. Bryan, Garnier & Co has succeeded in developing this know-how through a team that blends experienced investment bankers, former venture capitalists and successful entrepreneurs.

About esual

esual develops software that enables companies to deploy executable programs at the client level in intranet, internet and extranet environments.  Its X-application system allows slices of applications to be loaded onto the user’s PC without the use of plug-ins, thereby maximising the efficiency of both the server and the computer. This allows organisations to offer significantly faster access to an increased number of users and to achieve a far greater return on investment from their e-business infrastructures. The company is headquartered in Paris with offices in the UK and the US.  Esual has over 100 customers including Volkswagen Group (VAG), Peugeot, Wstore, Xerox and Siemens.

(www.esual.com)

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