To: Sarmad Y. Hermiz who wrote (118833 ) 2/28/2001 12:06:48 PM From: Glenn D. Rudolph Respond to of 164684 Argoquest Completes $40 Million First Round Financing PR NEWSWIRE - February 28, 2001 09:58 LOS ANGELES, Feb 28, 2001 /PRNewswire via COMTEX/ -- Argoquest Holdings, LLC, a private U.S. Holding Company that is actively engaged in identifying, funding, and managing a network of over 60 Israeli-based technology companies, announced it has completed a $40 million first round of financing. The principal investors in this round include Broadcom Corporation (Nasdaq: BRCM), HSBC Holdings plc, the international banking and financial services group, and Shamrock Holdings of California Inc. Israel has emerged as a world leader in the global technology community and is referred to as the "Silicon Valley of the Middle East." Moreover, after the U.S. and Canada, Israel is responsible for the largest number of initial public offerings on Nasdaq. Since its founding in 1997, Argoquest's focus has been early-stage, Israeli start-up technology companies involved mainly in Internet infrastructure, enabling technologies, wireless and telecommunications. "Argoquest has unique ties and connections with the Israeli technology community and enjoys superior access to this community," said Argoquest's President Jim Hamilton. "The funds raised from this financing, as well as our strong partnership with our investors will allow Argoquest to continue its quest of Israeli technologies and the growth of our partner companies." "With technology moving so rapidly in high-growth regions like Israel, Broadcom realizes the need to establish closer ties to the Israeli start up community," said Dr. Henry Samueli, co-founder and chief technology officer of Broadcom. "Argoquest has an impressive management team in both Israel and the U.S. and is in a unique position to succeed in bringing cutting-edge, Israeli technologies to the global marketplace." Argoquest provides its partner companies with strategic guidance in planning, finance, business strategy, business development, marketing, public relations and human resources to facilitate their entrance international markets. Argoquest Holdings, LLC's corporate headquarters is located at 11777 San Vicente, Suite 550, Los Angeles, CA 90049. For additional information, see www.argoquest.com. SOURCE Argoquest Holdings, LLC CONTACT: Lou Ann Blaylock, Managing Director Corporate Communications, 817-415-4955, for Argoquest Holdings, LLC URL: argoquest.com prnewswire.com (C) 2001 PR Newswire. All rights reserved. -0- KEYWORD: California Israel INDUSTRY KEYWORD: FIN CPR MLM SUBJECT CODE: FNC