Slater Technology Fund Invests in Providence Software Company

New Web Applications Venture Led by Team of Seasoned Entrepreneurs

Providence, R.I., March 26, 2007 – Slater Technology Fund announced today that it has provided funding to local software startup Public Display to expand research and development of its information extraction software system.

Founded in 2006, Public Display’s web application development team works in information extraction, using artificial intelligence and natural language processing to help make it easier for consumers to locate, organize and act upon digital information. This is the company’s first round of financing.

CEO and founder William O’Farrell has more than 15 years experience as a software entrepreneur. Prior to founding Public Display, O’Farrell co-founded SpeechWorks, Inc., a speech-recognition company that grew out of MIT’s computer science lab to go public in 2000. The company was acquired by Naunce in 2003. O’Farrell was also co-founder and CEO of The Company of Science and Art, developer of the video-compositing software “AfterEffects,” which was acquired by Adobe in 1994. Most recently, O’Farrell co-founded and served as CEO of Open Air, Inc., an application service provider of professional service automation systems. O’Farrell is a Brown University and Harvard Law School graduate.

“It’s gratifying having the support of Slater,” said O’Farrell. “We are excited about growing a great software company in Rhode Island and Slater’s investment will help us attract the quality people we need to be successful.”

“We are pleased to help support the Public Display team as they work to bring their technology to market,” said Thorne Sparkman, managing director of the Slater Technology Fund. “Bill has an excellent track record of entrepreneurial successes and a keen eye for opportunity. With Public Display’s innovative technology and Bill’s experience in early stage ventures, we believe this company has great potential.”

About Slater Technology Fund
The Slater Technology Fund provides seed capital investment in support of entrepreneurs who have the vision, leadership and commitment to build substantial business 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, government research laboratories or commercial enterprises located within the region. Investments are premised upon the principals being committed to basing and building their businesses in Rhode Island.

For More Information
Laura Nelson
SVM Public Relations
401-490-9700
laura.nelson@svmpr.com