Press Release: North-by-South Closes Investment Round

Open Source Software Company Provides Near-Shore Services from the Latin American Free Software Movement

FOR IMMEDIATE RELEASE:

NORTH-BY-SOUTH CLOSES INVESTMENT ROUND

Open Source Software Company Provides Near-Shore Services from the
Latin American Free Software Movement

Contact: Ryan Bagueros (details below)

San Francisco, CA, 05/14/2008: North-by-South, the open source software
services company that near-shores development to Latin America,
announced today that it has closed a round of investment with Launch
Capital LLC.  This infusion of capital builds on North-by-South's
success in boot-strapping their operations to date.

"We've been able to build a significant developers network of open
source programmers throughout Latin America from our hubs in San
Francisco, California and Sao Paulo, Brazil but this additional capital
gives us the opportunity to really accelerate," explained Ryan Bagueros,
founder of North-by-South.  "The investment from Launch Capital will
help us make more companies aware that there is an incredible open
source phenomenon happening in the Americas and we can provide
businesses access to this talent."

North-by-South is a unique near-shoring business that specializes in
open source, free software solutions based on Linux, PHP, MySQL, Ruby on
Rails and other cutting-edge technology.  "Open source software has
proven itself as the most cost-efficient, secure and scalable platform
for developing network and Web 2.0 applications," said Bagueros.  "By
tapping into the free software phenomenon happening in Latin America,
we're able to further sweeten the cost/benefit advantages of open source."

Backed by government support of open source software in Latin American
countries like Brazil, Argentina, Ecuador and others, a wave of free
software enthusiasm is sweeping across the southern hemisphere.  A
generation of tech-savvy Latin American programmers exhibit all the best
qualities of open source programmers: passion for software development,
meticulous attention to detail and a thorough understanding of the
inner-workings of operating systems, databases and web platforms.

This level of technology excellence, combined with the advantages of
working with teams that are only 3 or 4 hours ahead of Pacific Standard
Time, is positioning Latin America as the new choice for businesses that
need relief from bloated engineering budgets and low-quality code from
far-away off-shoring companies.  By working with top open source talent
from Latin America, North-by-South provides cost-efficient development
that meets the highest standards of quality.  North-by-South's customers
include internet start-ups, web development agencies and enterprise
businesses who want to benefit from the adoption of open source technology.

North-by-South is leading this off-shoring transition to Latin America
with a solid management team that includes Ryan Bagueros, former
Director of Engineering of Jumpstart Technologies (which launched
Tagged.com and incubated Hi5.com), Natalie Ammirato, former
owner/founder of the boutique software development firm Mighty Assembly,
and Isabela Fernandes Bagueros, who formerly worked with the Brazilian
federal government on their migration to open source software.  The
combined experience of this San Francisco-based management team provides
North-by-South's customers with the assurance that their application
will be properly designed to scale, delivered on time with appropriate
use of open source technology.

Elon Boms, Managing Director of Launch Capital, explains his firm's
interest in supporting North-by-South: "The strength in this company
lies in the quality, passion and rigor that their team approaches with
each project.  Ryan and his management team have done an outstanding job
recruiting and developing top programmers from Latin America and Launch
Capital is excited to be at this convergence of several maturing trends:
near-shoring technology development to Latin America, enterprise
adoption of open source software and leveraging the advantages of
geographically-distributed development."

Launch Capital LLC provides capital funding for early stage concepts and
businesses.  By getting involved in the earliest stage of business
development, Launch Capital's quick access to capital allows
entrepreneurs to turn their business concepts into reality.  This quick
turnaround allows portfolio companies to focus on their business
development goals rather than on their financial needs.  Launch
Capital's focus spans multiple industries, including software, consumer
products, internet and energy.

North-by-South is proud to announce this next level in the growth of
their company and international network of developers.  The founders of
North-by-South believe in the pragmatism, methodologies and philosophies
of free software and while they are creating a profitable business, they
are also supporting the explosive momentum of free software throughout
Latin America.

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For further information, please contact:

Ryan Bagueros, Principal

Tel:   415-887-7690
Cell:  415-706-6007
Email: ryan@northxsouth.com

For more information about North-by-South on the web, visit:
http://www.northxsouth.com/

For more information about Launch Capital, visit
http://www.launch-capital.com/

For more information about the open source phenomenon in Latin America,
visit http://news.northxsouth.com/

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