LOCUS PORTAL CORPORATION RECEIVES EQUITY INVESTMENT FROM EFICOR VENTURES

First round of outside financing will fund the start-up of a new product line

Helsinki, Finland, August 15, 2001 — Locus Portal Corporation (Locus Portal) announced that it has received an equity investment from Eficor Ventures, part of Eficor plc. This was the first round of outside financing for Locus Portal, which was founded in late 2000 with seed capital provided by its founders.

Locus Portal has developed technology that can radically improve the accuracy and the capacity of geographical positioning of mobile phones.

“Our patent pending technology and the products, Locus Accuracy Server and Locus Capacity Server, close the gap between the wireless operators’ and service providers’ business expectations from the location based services and the limitations of the existing technologies”, says Locus Portal founder Mr. Tero Heinonen.

“This is our first round of outside financing, and we are delighted to have received it from a strong and respected partner like Eficor”, says Mr. Samuel Salmenlinna, co-founder and seed investor. “We have been resource limited, and now when our product development has started paying off, this investment will allow us to begin the expansion we have been looking forward to”, Salmenlinna continues.

Mr. Ari Torpo, Eficor Partner, is pleased with Locus Portal’s choice of investor. “Acquiring this equity position in Locus Portal allows us to participate in the Location Based Services market, that has been estimated to exceed cumulative USD 20 Billion by 2006. Locus Portal’s products are based on unique technology and address a well defined niche in the Location Based Services market, and the founders have extensive experience of both related technology and business” says Mr. Torpo, who will serve on the Locus Portal board of directors.

About Locus Portal

Locus Portal is specializing in innovative technologies for the positioning of mobile phones. Locus Portal enables global telecommunication operators to capitalize on the value-added services utilizing the geographical position of the mobile user. Locus Portal’s products bring the quality of network positioning information to a level required by the high business value mass-market services. Established in late 2000 in Helsinki, today Locus Portal has proven track record of successful customer deployments, partners with the leading global vendors, and participates in the standardization of the industry.

About Eficor

Eficor is a technology focused investment bank operating in Helsinki, Finland. Eficor offers services in the areas of Securities Trading, Asset Management, Corporate Finance, Venture Investments and Business Development Consulting, with Internet and mobile solution capabilities.

Eficor offers to both private and institutional investors the most sophisticated Internet and mobile financial services for corporate finance, venture investment and stock trading activities. Eficor currently employs over 60 investment and technology professionals.

For more information, please contact:

Mr Tero Heinonen, CEO, Locus Portal
Tel +358-40-502 3134, Email: tero.heinonen@locusportal.com
www.locusportal.com

Mr Ari Torpo, Partner at Eficor Ventures
Tel +358-50-338 0697, Email: ari.torpo@eficor.com
www.eficor.com