February 24, 2010

(Herndon VA) - The Center for Innovative Technology (CIT) touted the achievements of its GAP
Funds, which has helped create 36 early stage high-tech and biolife companies, as part of
National Entrepreneurship Week established by Congress in 2006 “so that the people of the
United States are reminded of the contributions of entrepreneurs.”

Pete Jobse, CIT President and CEO, said, “Innovation is the key to maintaining our standing in
the global economy. Despite the current economic challenges, CIT is finding many
entrepreneurial opportunities that will make Virginia the leader in the new innovation economy.”

An entrepreneur, Jobse said Virginia receives low scores in providing sufficient capital for seed
stage company formation. Jobse’s last company, ArcSight, Inc (NASDAQ:ARST), was started in
Sunnyvale, Calif., because of its access to capital and an innovation culture. “I want
entrepreneurs here to have the same positive experience we did in raising capital and starting the
company, and I certainly don’t want to export to other states smart entrepreneurs and innovation
grown in Virginia. So, we created the CIT GAP Funds to fill a developing market need,” Jobse
said.

The CIT GAP Funds is a family of seed stage investment programs that leverage public and
private investments to launch new high expectation companies. Its due diligence and investment
process is overseen by an Investment Advisory Board, comprised of CIT officials, and
experienced entrepreneurs and venture capital investors. Since its launch, CIT GAP Funds has
invested almost $3.5 million to create 36 companies that, in turn, were able to attract an
additional $41 million in private equity. (For a list of portfolio companies, please go to
http://www.citgapfunds.org/.)

Tom Weithman, Managing Director the GAP Funds, said, “We have a proven model that offers
superior economic returns for entrepreneurs and co-investors, while providing a significant
economic development contribution to the Commonwealth.”

In addition to the GAP Funds, CIT helps entrepreneurs in other ways. Its Federal Funding
Assistance Program identifies and accelerates opportunities for small technology firms to obtain
federal R&D awards – about $120 million in federal funds annually.

The CIT Connect and CIT R&D service lines work with entrepreneurs by linking them to large
purchasers of innovation and technology and bringing them into teams of university and
commercial partners to develop research projects that solve societal challenges in areas like
homeland security, alternative energy exploration, e-learning and electronic health records.
Also, the CIT Broadband service line helps local and regional jurisdictions develop and find
funding for broadband deployment, a key infrastructure requirement in Southside and Southwest
Virginia, and the Eastern Shore that strengthens economic development for entrepreneurs and
innovators in those areas. (For more details about CIT service lines, go to
http://www.cit.org/about-us/annual-reports.)

Lastly, CIT is working with Virginia’s ten regional technology councils to develop the first
Commonwealth Innovation Index, a strategic road map to the Innovation Economy that more
carefully targets public and private investments in innovative and emerging technology clusters
that will yield sustainable job growth. (For a copy of the Phase I Report, go to
http://www.cit.org/innovation-index.)

About the Center for Innovative Technology, www.cit.org
CIT is a nonprofit corporation that accelerates the next generation of technology and technology
companies. CIT creates new technology companies through capital formation, market
development and revenue generation services. To facilitate national innovation leadership and
accelerate the rate of technology adoption, CIT creates partnerships between innovative
technology startup companies and advanced technology consumers. CIT is now listed on the
GSA MOBIS Schedule, Special Item Numbers (SINs) SIN 874-1 for Consulting Services and SIN
894-2 for Facilitation Services. Its CAGE Code is 1UP71.

Press Release