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THEGRAFNETWORK LLC SELECTED AS INNOVATOR
EVENING ANGEL AWARD WINNER

Data Extraction Software and Data Provider Deemed the Most Compelling
Business Proposition in Early-Stage Business Competition

New York, May 22, 2002 –thegrafnetwork LLC (“TGNTM”) (www.thegraf.net), a developer and licensor of universal enterprise software solutions providing real-time data extraction from financial/SEC filings and other documents and a provider of data via value-added end-user applications, has been selected as the latest iNNOVATOR Evening Angel Award Winner.

The iNNOVATOR competition provides early-stage businesses with the opportunity to present their businesses in a competitive format to venture capitalists, angel investors and other interested parties. Following the submission of business plans, finalists are selected to present their businesses in greater detail to a panel of three experienced venture capitalists. Critiques are provided by the judges’ panel and a winner is selected, with the ultimate aim of identifying new investors/funding alternatives for the winning business.

Following the competition, iNNOVATOR described TGN as “a solid business developed by a real player with a strong background in the field. The need is obvious and the return secure....”

“We’re very excited to have been selected as the iNNOVATOR winner,” said James Graf, Chief Executive of TGN. “The iNNOVATOR competition serves as an excellent forum for up and coming businesses to gain valuable exposure to potential investors and to receive an unbiased evaluation of their business.”

About TGN

TGNTM is a developer and licensor of universal enterprise software solutions providing real-time data extraction from financial/SEC filings and other documents and a provider of data via value-added end-user applications. Utilizing proprietary text-mining automation, the TGN Data Extraction PlatformTM (the “TGN DEPTM”) automatically extracts predetermined numeric figures and text from semi-structured electronic documents, while retaining “Source LinksTM” (hyperlinks to precise locations in underlying source documents) for absolute data transparency. Based in New York, TGN was established in 2000. TGN has approximately 30 employees located in New York, Kiev and Kuala Lumpur. For more information about TGN or the TGN DEP, visit the company’s website at www.thegraf.net.