Red Herring & IVA Announce Second Annual Israeli Startup Contest - June 10-11, 2007.

Contest Will Be Held in Tel Aviv as Part of the 2007 Israel Venture Association's (IVA) High-Tech Conference

TEL AVIV, Israel -- Red Herring announced today that it is sponsoring the Israeli Startup Contest 2007 in conjunction with the Israel Venture Association's (IVA) high-tech conference,

taking place June 10-11 in Tel Aviv. This marks the second consecutive year that the internationally renowned American media company will conduct an Israeli competition to evaluate and select the top technology startups of 2007. Registration for the competition opens this week and will be split into three tracks: Software & Internet, Semiconductor & Communications. Three finalists per category will be selected and profiled in Red Herring prior to the conference. The overall winner in each category will be announced at the IVA conference.

Joel Dreyfuss, Editor-in-Chief at Red Herring, will direct the competition. "Israel continues to be one of the world's centers of innovation," says Dreyfuss. "We look forward to finding the technology startups that will change the way we live, work, and communicate."

Independent judges, including prominent Israeli entrepreneurs and the International Editor of Red Herring, Jennifer Schenker, will score companies based on vision, technological achievement and market leadership. The competition is intended for early-stage startups in 2007 that are supported by venture funds associated with the IVA.

The winning startups will receive their awards and present their companies at IVA's annual high-tech conference, June 10-11 in Tel Aviv, in front of investors, senior government officials, Ms. Schenker, and Alex Vieux, CEO and Chairman of Red Herring. They will also gain international exposure in Red Herring and the Israeli media, and receive access to IDC research material.

About Red Herring

Red Herring, Inc. is a global media company which unites the world's best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters and major events for technology leaders around the globe. Red Herring provides an insider's access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. More information about Red Herring is available on the Internet at www.redherring.com.

About Israeli Venture Association (IVA)

The Israeli Venture Association (IVA) was founded in 1996 in response to the extensive development of the hi-tech and venture capital activities in Israel. It is a broad based organization representing the diverse aspects of the venture capital industry in Israel. The many initiatives of IVA include supporting and enhancing the growth of Israeli high-technology industries and providing a dynamic platform for members to present subjects of common interest. More information about IVA is available on the Internet at www.iva.co.il/.