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BiTMICRO Networks Raises $9.3M in latest Series F Round of Funding

Fremont, Calif. - Sep. 10, 2007- BiTMICRO Networks, Inc., maker of intelligent flash IDE/ATA, SCSI, and Fibre Channel and SATA solid state disk (SSD) storage solutions, today announced the completion of $9.3 million in Series F funding with a team of investors led by Woodside Investments LP.

BiTMICRO intends to utilize the additional capital to further ramp production, sales and marketing operations, as well as support the company's aggressive R&D initiatives to create a new generation of flash based E-Disk solid state disk and semiconductor storage solutions. With this announcement, BiTMICRO’s total funding now stands at $31.4 million in private funding.

"We are excited to be part of a dynamic organization that has a long and proud history in flash SSD development", said Buck Carson, general partner for Woodside Investments. "The recent entry of a number of global semiconductor and Fortune 500 companies in the SSD market suggests that it is poised to take off in the next few years. Our latest investment in BiTMICRO is testimony to our group's support for the management team and the execution of its business strategies".

BiTMICRO is developing a new generation of solid state storage solutions that defines the company's vision for the much awaited proliferation of flash based storage in the enterprise and consumer markets. These high performance flash SSDs will be available in industry standard and small storage form factors supporting the latest high-speed storage interfaces and high-density memory chips. Most importantly, BiTMICRO’s design leverages proprietary technology with the ever-increasing flash memory densities to create affordable, yet fast and reliable solid state storage alternatives for the enterprise, military, aerospace and consumer markets.

"The global storage market is moving towards solid state, and as one of the pioneers in this industry, BiTMICRO Networks is all set to become a major player in this billion-dollar industry", said Rey Bruce, chairman, president and CEO of BiTMICRO Networks. "We are happy to note that investors such as Woodside Investments have taken cognizance of this fact and are prepared to support the product development efforts that are currently underway at BiTMICRO".

In 2005, BiTMICRO was cited by STORAGEsearch.com in its Solid State Disk Buyer Preferences Market Report as the most recognized brand in the SSD market. The company's long list of technological achievements includes the introduction of the world's first Ultra320 SCSI flash SSD, the world's first ATA/UDMA-66 IDE flash SSD and the world's first Fibre Channel flash SSD.

About BiTMICRO Networks

BiTMICRO^® Networks (http://www.bitmicro.com) is the leading provider of high performance solid state disk and non-volatile semiconductor storage solutions. The Company’s flagship product, the E-Disk^® SSD, is offered with SATA, SCSI Narrow and Wide, IDE/ATA and Fibre Channel interfaces in 2.5-inch and 3.5-inch hard disk drive footprints, and 19-inch rack mount configurations scalable up to several terabytes of pure solid state storage. With a growing workforce of over 250 employees around the globe, BiTMICRO maintains its commitment to invent, design and deliver advanced solid state storage solutions that drive business value.

High-resolution photo images of BiTMICRO’s product line are available at http://www.bitmicro.com/press_multimedia.php.

E-Disk^® and BiTMICRO^® are registered trademarks and trademarks of BiTMICRO Networks, Inc. BiTMICRO Networks acknowledges the trademarks or registered trademarks of other organizations for their respective products and services.

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