News: Portfolio 2005

Early Stage's Incurrent Solutions Acquired by Online Resources Corp.

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PA Early Stage has a strong record of successful portfolio company liquidations, including AANetcom, a fabless semiconductor company, which was acquired by PMC-Sierra (Nasdaq: PMCS) in a transaction valued at approximately $900 million; OraSure Technologies (Nasdaq: OSUR), a leader in oral fluid diagnostics, which merged with a publicly-traded company in a stock deal valued at approximately $255 million; and Half.com, a leading exchange that connects buyers and sellers, which was acquired by eBay (Nasdaq: EBAY) in a transaction valued at approximately $300 million. The management team just recently announced the close of PA Early Stage III, an $86 million fund, raising its total under management to $237.5 million.

About Online Resources Card & Credit Services (formerly Incurrent Solutions, Inc.)

Online Resources Card & Credit Services division was founded in 1997 and is now among the most widely adopted credit card banking systems. Online Resources Card & Credit Services develops and operates advanced online products for financial institutions in the global payment card industry, including issuers of consumer, small business, purchasing card, corporate T&E, and private label cards. Together with Online Resources Banking and eCommerce Services, the Company powers Internet financial services for 700 firms nationwide. The Company's proprietary account presentation, payment and relationship management services are branded to its client banks, credit unions, card issuers and processors, and payment acquirers. The Company serves over 2.5 million consumer end-users and processes over $10 billion in payments annually. Founded in 1989, Online Resources (Nasdaq: ORCC, Website: www.orcc.com) has been widely recognized as one of the nation's fastest growing technology firms.

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