Slater Technology Fund Expands Investment in Providence Software Company

Joins with Internet Entrepreneur to Provide Funding to Creative Circle Advertising Solutions, Makers of adQ and communityQ

Providence, RI, June 30, 2008 – The Slater Technology Fund today announced that it has committed another $250,000 to Creative Circle Advertising Solutions (CCAS), a developer of software for media companies, bringing the total amount it has invested in the company to $750,000.

Veteran Internet entrepreneur Bill Daugherty also participated in the round. Daugherty, a well-known figure in the industry, is the former founder of Interactive Search Holdings, which was acquired by AskJeeves for $350 million in 2004. Daugherty is also joining CCAS’s board of directors.

CCAS builds best-of-breed software for user-generated content and advertising for media companies. Its products include adQ: Intelligent classifieds, which is the only classified entry system that actually helps users write an effective ad, and communityQ, the leading citizen journalism software in the United States. The company’s clients include NBC, The Chicago Tribune, CNHI, North Jersey Media Group, and Media General.

“Creative Circle brings a unique combination of industry expertise and user-friendly software to create solutions for media companies that are struggling to find new ways to generate revenue in the digital age,” said Daugherty. “The company has emerged as a leader in this space, with a rapidly growing customer base and expanding suite of products. I look forward to working with them to continue to build on their success.”

“We have had another record year, as we continue to add customers and products,” said Bill Ostendorf, co-founder and CEO of CCAS. “With this latest round of funding, and Bill coming on board, we will further our reach in the media market, and bring even greater value to our customers and stakeholders.”

In Rhode Island, users can see the company’s software driving sites for Providence Business News (pbn.com), mytowncommon.com, a new citizen journalism site by NBC10, the Rhode Island Catholic (thericatholic.com), the Rhode Island Jewish Voice and Herald (jvhri.org) and classified sites for the Valley Breeze and The Sun in Westerly. Next month, the company will launch a new site for East Bay Newspapers.

About Slater Technology Fund
The Slater Technology Fund is a state-backed venture capital fund that invests in new companies committed to basing and building their businesses in Rhode Island. Slater focuses its resources on the support of entrepreneurs who have the vision, leadership and commitment to build substantial commercial enterprises. Slater typically invests at the inception stage in the development of a new venture, often based upon ideas and technologies originating in academic institutions and/or government research laboratories located within the region. In most cases, investments are premised upon the possibility of raising substantial follow-on financing, from venture capital investors or from strategic partners, with a view toward accelerating the generation of significant numbers of high-value, high-wage jobs over the intermediate to longer-term. For more information, visit www.slaterfund.com.

About Creative Circle Advertising Solutions, Inc.
CCAS was founded in 2004 to create software that will help print and broadcast media outlets expand and improve their web content and revenue through user interaction. Unlike most technology companies, CCAS has a strong grounding in consulting, content and design and produces user interfaces that entice more users to participate and engage. CCAS now offers a suite of software solutions for newspapers including a flexible content management system and tools for social networking, polls, citizen journalism, subscriptions, classifieds, directories, sports statistics and high school sites as well as syndicated user sites on for moms and other target demographics.

For More Information:

Laura Nelson or Kaycee Roberts
SVM Public Relations
401-490-9700
laura.nelson@svmpr.com
kaycee.roberts@svmpr.com