Mimosa Signs 500th Customer Deal to Ensure the Retention, Preservation, Protection and Recovery of Vital Enterprise Information

Response to Global eDiscovery and Compliance Requirements Fuel Demand for Industry’s Most Comprehensive Content Archiving Solution

Santa Clara, Calif .– July 29, 2008 – Mimosa Systems, a leader in Live Content Archiving solutions, announced today it has crossed the 500 th customer mark to ensure the retention, preservation and recovery of vital enterprise information. In reaching this milestone, Mimosa has solidified its position as the leading pure-play integrated content archiving vendor, with deployments across the globe and triple-digit sales growth.

In today's economic climate, enterprises are looking for ways to squeeze more value and efficiency out of their IT investment. Mimosa NearPoint™ allows organizations to offset the high costs of storage and management due to email and file proliferation. Mimosa's unified content archiving solution allows enterprises to take a proactive approach to eDiscovery that minimizes risk while slashing storage costs more than 30 percent by offloading content from production servers to archive servers leveraging lower cost storage.

More than 500 customers worldwide are leveraging the power of the Mimosa NearPoint content archiving solution to address critical business and global regulatory requirements for content archiving, retrieval, monitoring, data protection, disaster recovery, and storage optimization — all with a single platform.

According to IDC, the worldwide email archiving applications market grew 48 percent in 2007, driven by the need for email archiving to satisfy compliance, legal discovery, and storage optimization requirements. Archiving applications are a critical foundation of the legal discovery infrastructure platform market, which IDC expects to approach more than $22 billion in 2011.1

1Source: IDC, Worldwide E-mail Archiving Applications 2008-2012 Forecast, Doc # 212017, May 2008

“Compliance mandates for electronic discovery have compelled corporations worldwide to adopt and consistently enforce their records retention practice and ensure compliance,” said Vivian Tero, program manager, compliance infrastructure at IDC. “More companies are deploying content archiving applications like Mimosa NearPoint to automate the retention of critical content such as emails and file data, as well as to support their legal hold obligations.”

“Companies around the world are facing stringent eDiscovery and compliance requirements and can no longer afford to take a reactive position to solve these issues — the stakes are just too high,” said T.M. Ravi, CEO, Mimosa Systems. “Hitting the 500 customer mark validates our superior architecture and market leadership in delivering the most powerful archiving solution that addresses critical customer requirements for retention management, eDiscovery, content monitoring, regulatory compliance, business continuity, and storage optimization in a single unified solution.”

Global Compliance Mandates Drive Need for Mimosa's Next-Generation Content Archive

Corporate governance mandates across the globe are forcing companies to take serious action to ensure compliance. In addition to specific U.S. regulations, key Canadian, U.K. and Japanese laws affect organizations that operate worldwide, making deployment of an electronic communication archive and retrieval system essential. These regulations include:

• Canadian Compliance Law IDA 29.7: The Investment Dealers Association of Canada law requires all client correspondence and related documents, including emails, must be retained for five years and readily available for inspection by the Association at all times.
• U.K. Data Protection Act: This act requires organizations to hold and process all historical data, and disclose requested information within 20 days of a discovery event to ensure compliance and minimize risk.
• U.K. Freedom of Information Act: This act, implemented in 2005, gives anyone — any agency, any group or any company — the right to compel any public entity to make available current and historical information for full disclosure. Public authorities are required by law to maintain accurate and appropriate records, or face fines for non-compliance.
• Japanese Version of Sarbanes-Oxley: Similar to their counterparts in the U.S. and the U.K., Japanese companies are facing a new corporate accounting law, dubbed J-SOX, which went into effect for fiscal years beginning on or after April 1, 2008. J-SOX requires that companies bolster their computer systems to retain email and documents, store information for long periods, and keep tabs on employee access to information.

Mimosa Records Triple-digit Growth

In addition to recording triple-digit growth, Mimosa has achieved several other milestones in 2008, including:

• Closed $17 million in mezzanine financing.
• Positioned in Gartner's “Visionaries Quadrant” for Active Email Archiving and identified as the fastest-growing company in this market.
• Introduced content monitoring that provides email alerts for administrators when sensitive content is detected in an email or in files at rest on the file server.
• Launched Mimosa NearPoint File System Archiving (FSA) to retain, retrieve and recover free-range files alongside millions of emails, attachments, instant messages, and content from backup tapes stored in an integrated content-aware archive.
• Announced support of an Extensible Markup Language (XML) standard developed by the Electronic Discovery Reference Model (EDRM) for the easy transfer of electronically stored information throughout all phases of the eDiscovery process.
• Released software development kit that contained programming interfaces and methods to insert, search and export archived content into third-party applications. The SDK is open to all developers and offered at no-charge.
• Introduced the Mimosa Developer Network that offers software, documentation and training of developers to expedite the delivery of connectors to leverage archived content into their applications
• Expanded the company's global footprint by opening new offices in China, Japan and Australia, and increased staff by 100 percent across North America, Europe, Asia and India.
• Secured Microsoft ISV Star Partner Platform Award for the SMS&P NY Metro Area.
• Recognized as a finalist for the Microsoft Partner of the Year Award in ISV/Software Solutions.
• Secured Best in Show Award at Interop Tokyo.

About Mimosa NearPoint
Mimosa NearPoint addresses critical customer requirements around content archiving, eDiscovery, regulatory compliance, business continuity, and storage optimization in a unified solution. Mimosa NearPoint provides legal search workflow, immediate mailbox and message recovery, disaster recovery, email, instant message and file archiving, and self-service search and access in one solution. By leveraging cost-effective storage and advanced classification rules, NearPoint also optimizes content storage and reduces overall infrastructure costs.

About Mimosa
Mimosa Systems, Inc. delivers next-generation content archiving solutions for information immediacy, discovery, and continuity. Mimosa NearPoint is the industry's most comprehensive unstructured information management software solution for email, files, backup tapes, and instant messages, enabling archiving, eDiscovery, storage management, and recovery in a unified solution. Mimosa is a Microsoft Gold Certified Partner, recognized for its competencies in networking infrastructure solutions, ISV/software solutions, and advanced infrastructure solutions. Mimosa is a privately held company whose investors include Clearstone Venture Partners, August Capital, JAFCO Ventures, Mayfield Fund, and Focus Ventures. Mimosa was founded in 2003 and is based in Santa Clara, California, with offices in Germany, the United Kingdom, Japan, China, Australia, and India. For more information, see www.mimosasystems.com.

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

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