PRESS RELEASEFOR
IMMEDIATE RELEASE
CONTACT:
Doug Mohney
Director of Marketing
Voice: 301-398-0500 x2208
Fax: 301-598-0837
e-mail: moo@skycache.com
SKYCACHE CLOSES $6 MILLION IN EXTERNAL FINANCING FROM CARLYLE VENTURE
PARTNERS
Investment Fuels SkyCache's Market Development Efforts, Overseas Expansion
Laurel, MD, June 10, 1998 - SkyCache, Inc., the pioneering
Internet satellite data delivery company, today announced that Carlyle Venture Partners,
L.P., a $210 million venture capital fund affiliated with the Washington, D.C.-based
Carlyle Group, has invested $6.0 million in the company. This round of financing will
enable SkyCache to aggressively pursue sales and marketing programs in the United States
and overseas, as well as to develop new products. As part of the investment, J. Mitchell
Reese and Brian W. Hayhurst from the Carlyle Group will join the companyís Board of
Directors, adding background and experience to help SkyCache fulfill the opportunities
that the company's new technologies represent.
"We welcome Carlyle Venture Partners decision to invest
in SkyCache," stated Doug Humphrey, founder and CEO of SkyCache. "SkyCache's
technology fundamentally changes the way the Internet works and is the final piece of
Internet infrastructure, adding a true broadcast capability. As a unique overlay network
in combination with the concept of reactive caching, SkyCache improves existing cache
infrastructure performance, and drives better utilization of existing bandwidth."
The Carlyle Group, a global private equity firm, has a proven
track record for investing in rapidly growing industries and companies. Carlyle Venture
Partners, a recently established fund created by The Carlyle Group to invest in
high-growth opportunities, provides innovative management teams with the capital,
strategic advice and industry relationships needed to accelerate company growth.
As the first venture capital involvement in SkyCache,
Carlyle's funding and participation on the Board of Directors will enable and advance
SkyCache's leadership in the emerging Internet datacasting market.
ADVANTAGES OF SKYCACHE
By receiving constant updates of the most popular Internet Web and news
traffic via satellite and bypassing congested Network Access Points, ISPs and Enterprise
WAN/LAN operators experience a dramatic reduction in bandwidth usage, greater Internet
response times, and a substantial reduction in communication costs. End users also reap
faster response times since the most commonly requested Web site pages are stored at local
servers. SkyCache, by virtue of being a true broadcast mechanism to deliver data, also
solves updating and communications problems across distributed caching systems implemented
by Tier 1 ISPs on large backbone networks. Since all caches are constantly and directly
refreshed with the most frequently accessed web pages via satellite, terrestrial leased
line bandwidth is not used for cache communication and data updating, nor is it necessary
to implement a multi-tiered hierarchical infrastructure.
SKYCACHE, INC.
SkyCache is devoted to the implementation of high-speed one way digital
distribution systems, application in the movement of digital audio and video data streams,
World Wide Web content, and the synchronization of distributed data systems. The
corporation is headquartered in Laurel, Maryland and founded by Internet pioneer Doug
Humphrey. Humphrey is the founder of DIGEX, Inc., a 1991 basement startup ISP that was
sold for $150 million to Intermedia Communications, Inc. (NASDAQ: ICIX) in 1997.
Additional information on SkyCache services is available at www.skycache.com. "SkyCache" and its logo
are trademarked throughout the world; worldwide patents pending on certain technologies
used by SkyCache, Inc.