Mimix Broadband, Inc. Raises $6.7 Million in Series B Round of Institutional Funding Led by 3i and First Capital Group

Investment Allows for Further Development of Mimix’s Highly Integrated and High Power MMIC Devices

September 18, 2003, Houston, Texas – Mimix Broadband, Inc., a fabless semiconductor company for wireless communications, announced today that it has secured $6.7 million in an initial close of its second round of institutional funding. This round of funding was led by 3i, a leading international venture capital company, and First Capital Group of San Antonio, Texas. The majority of existing shareholders also participated in this round. Proceeds will be used to expand Mimix’s product portfolio of highly integrated and high power monolithic microwave integrated circuits (MMICs).

Mimix designs, develops and supplies MMIC solutions for the microwave and millimeter-wave wireless communications markets. Mimix has assembled a world-class team of scientists experienced in the design of highly integrated and high power semiconductor devices, as well as complete communications systems design. Mimix combines this semiconductor expertise with systems knowledge to provide innovative solutions for its customers’ most challenging applications.

“The commitment received from our investors for this round of funding confirms the confidence our shareholders have in Mimix to achieve success as a long-term supplier of MMIC solutions,” said Arthur Epley, Chairman of the Board, Mimix Broadband. “We are pleased with the progress that Mimix is making, and feel fortunate to have these world-class investors supplying deep resources and expertise and supporting our growth efforts.”

“This second round of institutional funding led by 3i and First Capital Group allows us to aggressively continue building out our product portfolio and serving our expanding list of customers,” stated Rick Montgomery, CEO of Mimix Broadband. “Our strategy is to provide industry-leading, high power and multifunction MMIC devices designed for superior performance. We see our MMIC products as revolutionary technology that is enabling market growth.”

With the increasing demand for higher bandwidth, the microwave and millimeter-wave communications markets have tremendous potential for growth. Mimix Broadband is ideally positioned to capitalize on the significant market opportunity for microwave and millimeter-wave MMICs.

"We believe that Mimix’s innovative approach to integrating several functions on a single chip enables the market to achieve significant cost reductions and technological improvements,” stated Marko Maschek, director at 3i and member of Mimix’s Board of Directors. "Our continued investment in Mimix supports our strong belief in the Company’s product development and management team, which is validated by the traction the Company has gained with the world’s largest MMIC customers.”

“As a returning co-lead investor, First Capital Group remains enthusiastic about Mimix’s future and its ability to successfully execute its business plan,” stated Jeff Blanchard of First Capital Group. "Our investment in Mimix reflects how delighted we are with the progress that Mimix has made over the past two years."

About Mimix Broadband, Inc.
Mimix Broadband, Inc., an ISO 9001-registered company, designs, develops and supplies high performance monolithic microwave integrated circuits (MMICs) for microwave and millimeter-wave wireless communications applications. Mimix has assembled a team of world-class scientists that has focused on the development of state-of-the-art millimeter-wave MMICs for the last decade. The Company also leverages strategic partnerships for manufacturing, in order to expedite the time-to-market cycle and meet market requirements. Mimix Broadband combines its design capabilities in complete communications systems with semiconductor device expertise to deliver innovative solutions for its customers’ most challenging applications.

About 3i
3i is a leading international venture capital company with U.S. offices in Palo Alto, CA and Waltham, MA. Operating since 1945, 3i has invested worldwide over $20 billion, including co-investment funds, through its 16-country, 3-continent network of 36 offices. 3i leverages this worldwide presence to add value to its portfolio companies and investment partners. Outside the USA, 3i invests broadly in private equity and venture capital. In the United States, 3i concentrates on technology investments in companies with the potential to be leaders in their markets. Visit 3i and its portfolio at http://www.3ius.com.

About First Capital Group
First Capital Group is a private investment firm that concentrates on companies engaged in a variety of industries throughout Texas and the Southwest. Since its inception in 1984, the principals of First Capital Group have established an outstanding record and reputation for assisting management of its portfolio companies in such areas as planning, capital formation, capital budgeting, merger and acquisition evaluation, and planning and executing exit strategies. First Capital Group's investment objective is to realize a superior return on investments in a diversified portfolio of well-managed companies having the potential to achieve exceptional growth in earnings and value.