Investment in Award Winning Mobile Branch Exchange (MBX™) Technology

November 2003, Cambridge UK. GEIF Ventures, a £2.5 million fund set up within NW Brown Group in April 2003 to co-invest alongside business angels has announced that it has invested £100,000 into OnRelay, alongside Great Eastern Investment Forum (GEIF) business angels.

OnRelay's MBX is a client-server software system that transforms a software-based mobile phone into a fully functional PBX extension. With a highly scaleable software-only solution, MBX allows seemless integration with a PBX, thereby allowing mobile calls to appear as a desk phone call to any PBX-integrated system. MBX puts controlling the cost of mobile calls back into the corporate governance. With demonstrated potential call savings of up to 40%, MBX enables quick payback and continued Return on Investment (ROI).

"We are very pleased to have GEIF on board as an investor," stated Marie Wold, President & CFO, OnRelay. "This investment by GEIF Ventures and GEIF angels is yet another demonstration of confidence in our product and management team. The funding will enable us to continue growing our customer base and increase our portfolio of supported PBX platforms, such as Cisco, Avaya and Nortel corporate voice switches."

Max Bautin, who manages GEIF Ventures, added: "I am delighted that GEIFV is able to add a company with such high growth potential as OnRelay to its portfolio. With the excellent management team, award winning technology and customer need focus, OnRelay is well positioned for continued growth and success in the mobility solutions market."

Cambridge office of Mills & Reeve acted as legal advisers for GEIF Ventures.

For more information on GEIF Ventures, please contact Max Bautin at GEIF Ventures on 01223 357131

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