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Seth Fearey appointed Joint Venture Vice President and COO; Leigh Chronister to direct nano-bio technology initiatives

San Jose, CA, December 7, 2004 - Veteran manager and IT infrastructure expert Seth Fearey has been appointed Vice President and Chief Operating Officer, Joint Venture President & CEO Russell Hancock announced today. He will also oversee Joint Venture’s Smart Valley initiative.

At the same time, Mr. Hancock announced the appointment of Congressional staffer Leigh Chronister as Director of Joint Venture’s Technology Programs.

“With these appointments Joint Venture adds tremendous horsepower,” said Mr. Hancock. “Seth and Leigh bring experience, energy, and intensity to our initiatives, and will position Joint Venture for maximum impact in two priority areas for the organization—our Smart Valley project, and the Technology Convergence Consortium.

Seth Fearey brings 20 years of management experience with Hewlett-Packard to his new assignment, as well as 7 years as a consultant in the area of leveraging technology for economic development. At HP Mr. Fearey worked in finance, product marketing, and strategic planning; at HP Laboratories he held position in university relations, information systems management, and business development. He also represented Hewlett-Packard on the technology policy committee of the Washington D.C.-based Computer Systems Policy Project.

In addition to his management responsibilities, Mr. Fearey will oversee Joint Venture’s Smart Valley initiative, a broad-based effort to promote innovative social applications of the information technologies developed by Silicon Valley companies. Mr. Fearey served on the board of Smart Valley from 1993 until 1998, a time when the group pioneered the earliest applications of the Internet in schools, government, and business.

“Seth Fearey understands we have a unique opportunity—indeed, a responsibility—to leverage our technology for pressing community needs,” said Eric Benhamou, Chairman of Smart Valley board, palmOne and 3Com.

Leigh Chronister served most recently as a staff member in Congressman Mike Honda’s office district office, a position she held since 2002. She worked closely with the Congressman on the formation of the Blue Ribbon Task Force for Nanotechnology, a body chaired jointly by Representative Honda and California State Controller Steve Westly. Her prior experience includes positions in corporate communications and business development.

Joint Venture board member Gary Hooper praised Ms. Chronister’s appointment. “Leigh has an entrepreneurial personality that is well suited to our efforts to build the Technology Convergence Consortium. She also brings strong ties to a wide variety of players in the federal government, which will be crucial as we try to bring federal dollars home to the Bay Area’s major research institutions.”

Ms. Chronister will direct the Technology Convergence Consortium, a Joint Venture initiative bringing together the region’s universities, national laboratories, industry associations, and private sector companies. The group’s aim is to accelerate the convergence of biotechnology, nanotechnology, and conventional information technologies, capturing the economic benefits of this convergence for the Silicon Valley region.

Joint Venture: Silicon Valley Network is a non-profit organization providing analysis and action on issues affecting the economy and quality of life. The organization brings together established leaders from business, government, labor, academia, and community-based organizations to spotlight challenges and work toward innovative solutions.

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