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MIMOSA SYSTEMS REACHES 100 CUSTOMER MARK; GAINS BROAD ACCEPTANCE FOR NEARPOINT EXCHANGE ARCHIVING, DISCOVERY, COMPLIANCE AND RECOVERY SOLUTION

Information Management Software Leader Achieves Landmark Sales Results In
15 Months of Product Availability

Santa Clara, Calif. - October 24, 2006 - Mimosa SystemsT, a leader in unified information management solutions for enterprise content, today announced that it has achieved a major sales milestone with the recent acquisition of Pinnacle Financial Corporation as its 100 th customer. In 15 months of product availability, Mimosa Systems has gained broad market acceptance for Mimosa NearPoint for Microsoft Exchange Server and its distinctive market differentiator: the NearPoint next generation archiving architecture. A single solution which combines email information archiving, eDiscovery, regulatory compliance, recovery and storage optimization, NearPoint delivers the compelling business value and cost savings customers are embracing.

"Reaching the hundred customer milestone tells the world that these guys are on to something," said Steve Duplessie, founder and senior analyst, The Enterprise Strategy Group, Inc. "Reaching it as fast as they have tells the world that the problem they are solving is real, it's bad, and these guys must really have something.  This is an important breakthrough for Mimosa, and it really is impressive at just how fast it happened."

Mimosa is seeing strong demand and adoption across multiple vertical sectors including healthcare, public sector, financial services, education, professional services and manufacturing. This is a true testament to Mimosa's ability to deliver a compelling solution with broad horizontal appeal meeting the growing needs of compliance and corporate governance.

Mimosa has also seen broad acceptance across enterprise, commercial and mid-market customers. Its growing customer base ranges from Fortune 500 organizations with over 55,000 employees to smaller enterprises. Mimosa's recent customer additions include: AAA; Affiliated Computer Services, Inc.; Brookfield Homes Southland; Consolidated Container; Dot Foods; Florida Department of Law Enforcement; Grange Mutual Insurance Company; Halifax Medical Center; Kirton & McConkie Law Firm; Pacific Gas and Electric Company; PeachTree Special Risk Brokers; Space Gateway Support; and TriNet Group, Inc.

"We looked at several products and selected Mimosa NearPoint because it offered us an intuitive, easy-to-use interface our users immediately understood," said Rick Q. Chin, Pinnacle Financial's senior vice president of information technology. "As a fast-growing financial firm, our data is extremely important to us. NearPoint gives us an additional layer of protection and allows us to optimize our Exchange servers for today's email needs while giving us complete access to the rich history of previous emails with the click of a button. The architecture of NearPoint is clearly next-generation thinking. That allows NearPoint to be a product with great features now and lots of growth potential in the future. Some products change the rules of the game. NearPoint is such a product."

"The rapid adoption of Mimosa NearPoint by companies across all segments underscores the value of our unique solution which delivers information immediacy, discovery and continuity for the new generation of critical enterprise information," said T.M. Ravi, president and CEO, Mimosa Systems. "We continue to focus on the relentless execution of our vision to provide information management that goes beyond email to content and other unstructured information types."

Since its first product delivery in mid 2005, Mimosa Systems' product and business execution has been marked by a number of impressive milestones that have led up to the acquisition of its 100 th customer. These milestones include:

• Accelerated Delivery Schedule: Development and delivery of versions 1.0, 1.1, 1.2, 1.3 and 2.0 of Mimosa NearPoint for Exchange Server, featuring next generation architecture for the management of unstructured and semi-structured information.
• Expanded Solution Modules: Release of four add-on application and infrastructure options for Mimosa NearPoint for Exchange Server including NearPoint eDiscovery Option, NearPoint Compliance Storage Option, NearPoint Disaster Recovery Option and NearPoint PST Archiving Option.
• Expanding Sales Organization: Mimosa has developed a broad and growing sales infrastructure that includes a direct sales organization focused on enterprise accounts and a comprehensive channel sales program concentrated on serving the mid-market.
• Focus on Service & Support: The establishment of a world-class, multi-location center of support excellence which features 24x7 services for global customers, regardless of their location.
• High Market Awareness and Acceptance: The creation of a solid, recognizable corporate brand through multiple product awards, positive product reviews, regular industry trade press coverage, highly visible print and online advertising, leading event participation and strong market analyst endorsements.
• Strategic Relationships: Mimosa is a Microsoft Gold Certified Partner and has partnerships with other key storage market leaders.

"Mimosa is working with Microsoft at the corporate, channel and technology levels," said Jeffrey Kratz, Director ISV Sales & Business Development, US Partner Group, Microsoft Corporation . "Together, Microsoft and Mimosa are helping enterprises better manage challenges related to email archiving, discovery, and availability. We are pleased to support Mimosa in celebrating their 100 th customer."

About Mimosa NearPoint
Mimosa NearPoint addresses critical customer requirements around email information archiving, eDiscovery, regulatory compliance, business continuity and storage optimization. Mimosa NearPoint provides immediate mailbox and message recovery, disaster recovery, email archiving, and self-service search and access in one solution. By leveraging cost-effective storage, NearPoint also optimizes e-mail storage and reduces overall infrastructure costs.

About Mimosa
Mimosa Systems, Inc. delivers next-generation information management solutions for information immediacy, discovery and continuity. Mimosa NearPointT for Microsoft® Exchange Server is one of the industry's most comprehensive information management software solution for Microsoft Exchange, unifying email archiving, recovery and storage optimization. NearPoint assures email continuity and regulatory compliance, while leveraging cost-effective disk technologies to optimize email storage growth. Mimosa is a Microsoft Gold Certified Partner recognized for its competencies in Networking Infrastructure Solutions, ISV Software Solutions, and Information Worker. Mimosa is a privately held company whose investors include August Capital, Clearstone Venture Partners, Dot Edu Ventures and JAFCO Ventures. Mimosa was founded in 2003 and is based in Santa Clara, California and Pune, India. For more information see www.MimosaSystems.com.

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Mimosa, Mimosa Systems, Mimosa NearPoint and NearPoint are trademarks of Mimosa Systems. All other product and company names herein may be trademarks of their registered owners.