EGAR Technology Capital Sets New Industry Standard for Venture Financing

TechRules.com Graduates From Incubated Start-Up to Stand Alone E-business in Just 90 Days

New York, New York, October 3, 2000-EGAR Technology (www.egartech.com), a leading capital markets firm, announced today that TechRules.com (www.techrules.com), EGAR Technology Capital's premiere incubation project, has completed its first round of financing in record time.

Just 90 days after TechRules.com launched as the preeminent website for technical analysis of global equities, they were able to secure first round funding valuing the company at more than $11 million. This was a rare feat in the financing world where obtaining initial funding can take more than a year if achieved at all. In addition to its equity stake in TechRules, EGAR Technology Capital will join these new investors in naming a representative to the board.

TechRules.com, based in Madrid, Spain, is the leading source of institutional quality technical analysis and data on the web and has been an essential tool in the growing revolution of self-directed investors. TechRules.com uses proprietary technology and algorithms to generate daily, weekly, or intraday buy and sell signals and full technical reports. The site also features a simulation laboratory for personal portfolios and a full range of charting functions. TechRules.com has already partnered with both Spain's largest online broker and one of its leading portals to give its users soup-to-nuts capabilities, from research to execution. TechRules.com has experienced unprecedented success and media recognition for its highly sophisticated analytics and user-friendly interface-all powered by EGAR Technology.

Jorge Bolivar, CEO of TechRules.com, says, "The success of TechRules.com has been made possible by the technology capital, strategic guidance and business relationships of EGAR Technology."

While the technical and mathematical complexity of TechRules.com handicapped several other firms, EGAR Technology was able to rapidly develop a sophisticated database and provide other business solutions such as strategic guidance, management assistance, and crucial business alliances.

"EGAR Technology was absolutely vital to our development, allowing us to focus on building a management team and negotiating funding while they developed our core technology and helped form key business relationships which undoubtedly culminated in faster time-to-market and a higher valuation during our first funding round," says Bolivar.

A crucial element to EGAR's success is its ability to provide e-businesses and financial services concerns with state of the art technology infrastructure. By providing a company with such a sophisticated infrastructure, a business is able to get up and running faster and secure a higher valuation in the marketplace. Businesses that partner with EGAR are also able to tap into its operational experience, capital support, and vast resource of strategic relationships in e-finance and the capital markets.

"EGAR Technology and TechRules.com have proven that Internet companies need not spend millions of dollars to get institutional strength e-business solutions," says Michael Aiken, senior vice president of EGAR Technology. "We expect to continue to change the e-business landscape by making available at a fraction of the cost, much of the infrastructure and development expertise that was only available to companies with large IT budgets."

Ravi Jain, President and co-founder of EGAR Technology, adds, "The success of TechRules.com should enable us to reach our goal of launching and nurturing four financial technology startups in year 2000. By combining EGAR Technology capital markets expertise, business relationships and technology resources, we give our partner companies an unparalleled advantage."

With EGAR's platform as a base, TechRules.com now stands ready to capitalize on that advantage and continue its rapid growth. "EGAR will now support our expansion in the U.S. and in developing relationships with strategic U.S. e-brokers and financial portals," Bolivar says.

About EGAR Technology

EGAR Technology is a New York and Moscow-based financial software, consulting, e-business and incubation firm. EGAR Technology provides complete consulting and development services for complex web systems and capital markets software, so clients can confidently and cost effectively expand their IT capabilities. EGAR Technology is widely recognized to have some of the foremost capital markets expertise in technology. The predominant part of this expertise comes from its fast growing team of more than 75 developers-virtually 100% of which have advanced degrees, and more than 50% of which have PhDs or are PhD candidates. EGAR Technology has clients throughout the US and Europe.

For more information on this press release or any other EGAR Technology related news, please contact:

Michael Aiken
(+1) 212-223-3552
maiken@EGARTech.com