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December 13, 2005

WRF CAPITAL NAMES THONG Q. LE MANAGING DIRECTOR

WRF Capital, the venture investment arm of Washington Research Foundation, has promoted Thong Q. Le to managing director.

An employee of WRF Capital for nearly six years, Le focuses on investments in the biopharmaceuticals, medical devices, enterprise software and advanced materials sectors.  He served most recently as manager, venture investments.

“Thong has become well known in the entrepreneur community for identifying and analyzing promising investment opportunities,” said Ron Howell, president and chief executive officer of Washington Research Foundation.  “He is involved in some of our most promising investments, to which he brings solid strategic value.”

Le’s promotion makes him the fourth managing director at WRF Capital.  The others are Howell, Loretta Little and John Reagh.

Le works actively with the boards of Alder Biopharmaceuticals, Teranode Corporation and Vanson HaloSource.  He also was involved with WRF Capital’s investments in Corus Pharma, Lumera (NasdaqNM: LMRA), Point of Careware, and Performant, which was acquired by Mercury Interactive.

Prior to joining WRF Capital, Le was founder, president and chief executive officer of MiniMeals, Inc. and a consultant for Capital Management Consulting, Inc.  Earlier, he was at Raymond James & Associates, Singer & Xenos Investment Management Company, and Capital Management Group LLC, a private investment firm specializing in biomedical ventures.

In July, Le was named Pacific Northwest regional director of the Harvard Alumni Association.  He was also included in the Puget Sound Business Journal’s 2005 listing of “40 Under 40” rising business stars.

Founded in 1981, Washington Research Foundation supports research and scholarship at Washington State research institutions.  Through WRF Capital, it partners with entrepreneurs, universities and research institutions to make early stage investments in technology-based start-up companies.