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Ecrio Announces a New Investment From Diamond Capital

$3M investment to drive market expansion of 3G mobile software provider.

CUPERTINO, Calif., July 29 /PRNewswire/ — Ecrio Inc., a global provider of advanced software for mobile phones today announced that Diamond Capital Company Ltd., the venture capital arm of Mitsubishi Tokyo Financial Group Inc., has invested $3M in its new strategic investment round. They join current investors Nexit Ventures, Cypress Ventures/CIR Ventures and CDB Webtech.

"We are very impressed by Ecrio's technology and the traction the company has generated in the mobile phone software market for advanced 3G services," said Mr. Tetsuya Mori, Director of Diamond Capital. "Ecrio fits perfectly in our cross-border technology investment strategy. With products for Push To Talk and IMS we believe Ecrio will be a leading player in the global market for 3G applications."

"We are very excited that Diamond chose to participate in this round," said Nagesh Challa, CEO of Ecrio. "They have a long history of investing in successful mobile software companies and we believe they will be of tremendous strategic value for the company both in Japan and globally. This strategic round of funding will help us expand our sales, marketing and development capability to meet our customer demands."

About Diamond Capital

The Diamond Capital Company Limited (DCC) is one of the oldest leading venture capital firms in Japan, established in 1974 by the Mitsubishi Bank Limited (the present Bank of Tokyo-Mitsubishi Limited) together with other Mitsubishi group companies. DCC has financed 970 companies in a variety of industries worldwide. About 270 of those companies have completed initial public offering on local and international stock exchanges.

About Ecrio

Headquartered in Cupertino, California, Ecrio is the leading vendor of real time commerce and communications software for mobile phones. Ecrio provides interoperable and standard compliant software to mobile phone manufacturers and mobile operators. Solutions include mobile commerce applications, including NFC and MoBeam mobile barcode redemption, along with 3G communications applications such as Instant Messaging and Presence Services (IMPS), VideoShare, Voice over IP (VoIP), and Push to Talk over Cellular (PoC). Ecrio's customers include industry leaders such as ASUSTeK, NEC, NTT DoCoMo, Panasonic and Visa. Visit www.ecrio.com

Ecrio and MoBeam are trademarks of Ecrio Inc. All other brands, products, and company names mentioned herein are trademarks of their respective holders.

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