San Francisco, CA/Hong Kong - November 26, 2001 - Walden International, a leading global venture capital firm, today announced that Lip-Bu Tan, its chairman and founder, was named "Venture Capitalist of the Year" at the prestigious 2001 Asian Venture Capital Awards held in Hong Kong on November 13, 2001.

The awards, the first of their kind, acknowledge venture capital professionals who have made significant contributions to the Asian venture capital industry by fostering its rapid maturity and continued growth in the region.

"As founder of Walden International, Lip-Bu Tan has played a key role in building Walden International as one of the premier equity players in both the U.S. and Asia. in Addition, he has been a terrific ambassador for the Asian venture capital industry," said Scott Thoreau, publisher of the Asian Venture Capital Journal which organised the awards.

"This is not only a great honor to me, this award is also an encouragement to the Asian venture capital industry as it moves forward to face many challenges ahead," said Mr. Tan. "I hope Walden International can continue to help support more Asian entrepreneurs to build great global companies."

Mr. Tan introduced and pioneered the U.S. venture capital investment concept in Asia in the mid-1980s. He has successfully built Walden International into a global venture capital firm by establishing a strong local presence in Asia and the United States. A lead investor and/or board member with more than 50 technology companies, Mr. Tan continues to contribute to the development of early stage technology venture capital industry in the Asian region.

Judging criteria for the "Venture Capitalist of the Year" award were a proven track record of innovative investments with high returns to investors and a reputation for integrity and working effectively with portfolio companies.

Walden International has a successful year with the US$1 billion Pacven V fund closed in March 2001 targeting the communications, life science, semiconductor, electronics, Internet and software, and implementation services sectors.

About Walden International

Walden International is a leading global venture capital firm, providing early stage technology companies with the advantage of an unrivaled global network since 1987. The firm's international venture capital funds comprise more than US$2 billion in committed capital as of April 2, 2001. Walden International's globally organized network of multi-cultural investment professionals spans the United States, Hong Kong, China, Singapore, Japan, Taiwan, India, Malaysia and Philippines. For more information, please visit www.waldenintl.com.

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