OZ COMPLETES US$27.3 MILLION INVESTMENT FROM VANTAGEPOINT VENTURE PARTNERS

Silicon Valley, CA and Montreal, Canada - September 21, 2004 - OZ today announced the completion of a US$27.3 million investment from VantagePoint Venture Partners of Silicon Valley. This financing sends a strong message of investor confidence in the fast-growing mobile IM market, and reinforces OZ’s leadership position in developing standards-based mobile instant messaging (IM) client and gateway products for handset vendors and mobile operators around the world.

“OZ’s track record in gaining new major customers each quarter and forming significant strategic partnerships has already positioned the Company as the preferred developer of mobile IM clients and gateways,” stated Eric Ver Ploeg, Managing Director at VantagePoint Venture Partners. “The OZ team has a proven ability to take charge of the mobile messaging market opportunity with innovative products, vigorous momentum and advanced thought leadership that defines OZ as the clear leader in the mobile IM industry.”

“Based on the early success and market reaction from our existing deployments, we know that branded mobile IM in North America has the opportunity to become what SMS is in Europe,” stated Skuli Mogensen, CEO and President of OZ. “The magnitude of this investment is a strong endorsement and recognition of OZ’s strategy and will allow us to continue to work closely with the IM providers, mobile operators and handset vendors to offer consumers innovative ways to keep them connected with friends, family and associates. We are dedicated to realizing our vision of providing the global market with the best possible mobile messaging experience.”

Today there are over 4 billion PC-to-PC instant messages being sent everyday around the world. With OZ’s client and gateway products, mobile operators, handset vendors and IM providers can now capitalize on this phenomenon by offering subscribers embedded and branded IM clients that give consumers easy access to their existing favorite desktop IM service.

OZ’s solutions enable mobile operators and IM providers to bring instant messaging services to operators’ subscribers, and allow handset manufacturers to provide users with a rich and fully integrated IM experience on mobile devices. According to a recent IDC Research report(1), the US mobile instant messaging market alone, is poised to reach US$365 million in 2004, and is expected to reach US$1.2 billion by 2008. OZ is at the forefront of this messaging evolution with its proven products, existing customer base and strong ties to all of the leading IM providers

The proceeds from the investment will be used to continue to execute on the Company’s vision and product road map, as well as to fuel OZ’s growth into new messaging markets beyond mobile IM. Furthermore, this financing will be used to expand OZ’s customer service organization, as well as develop OZ’s presence in the European and Asian markets.

About OZ
OZ is leading the development of standards-based mobile instant messaging (IM) solutions that enable mobile operators and IM providers to bring instant messaging services to operators’ subscribers. Furthermore, OZ works closely with leading handset manufacturers to provide users with a rich and fully integrated IM experience on mobile devices. Visionary companies such as AOL™, Microsoft, Nokia, Siemens, SonyEricsson, T-Mobile USA and Yahoo!®, have partnered with OZ to empower people with a seamless, always-on mobile IM experience. OZ is a privately held company headquartered in Montreal, Canada. The Company also has regional offices in the US and Europe. For more information, visit the OZ website at www.oz.com.

About VantagePoint Venture Partners
VantagePoint Venture Partners is one of the nation's largest venture capital firms that actively works with management teams and its strategic partners to build technology leaders. As an active multi-stage investor, the firm provides funding and resources for all stages of a company’s lifecycle from seed round through late stage and privately negotiated investments in public companies. Founded in 1996, VantagePoint has more than $2.5 billion in committed capital in four funds supported by 28 investment professionals. VantagePoint is based on a full-service ‘Partner-Team’ approach that provides entrepreneurs with a blend of technology, venture capital, operations, and corporate-finance expertise. The Firm is focused on technology investments in CleanTech, Communications, Healthcare, Semiconductor & Components, and Software sectors.

1 -US Wireless IM 2004-2008 Forecast: Real-Time Messaging Moves Mainstream – June 2004

For more information please contact:

Beverly Wilks
Director, Corporate Marketing & Communications
Tel: +1 514 390 2906

Christine Hinton
Vice President, Marketing, VantagePoint Venture Partners
Tel: +1 650.866.310

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