Agoura Hills, CA, March 15, 2001 - Internet Machines Corporation, a fabless semiconductor company developing complete network processor and switch fabric solutions, garnered an "Investors' Choice Award" at the Network Outlook conference held this week in Burlingame, California. Judged "most likely to succeed," Internet Machines, along with nine other private networking companies, was selected by an audience of over 600 leading investment and industry professionals from among 89 presenting companies.

Chris Hoogenboom, Internet Machines' president, CEO and founder, said, "We are honored to be singled out by this group of industry investors. We certainly believe that network processors and switch fabrics will fundamentally change the way networking systems are designed, and this award confirms that our approach to this market shift is being well received."

In addition to voting by the audience, selection for the Investors' Choice award was based on recommendations from a panel of distinguished networking investors. The panel included Richard H. Kimball, general partner at Technology Crossover Ventures; Frank McEvoy, senior research analyst for Broadband Access Systems at U.S. Bancorp Piper Jaffray; Naser Partovi, managing director at Enterprise Partners Venture Capital; and Fred Wang, partner at Trinity Ventures.

About Internet Machines
Internet Machines is a fabless semiconductor company that offers the IMpower™ family of highly integrated communications ICs for OC-192c and 10 Gbps optical, metro area network and Internet infrastructure equipment. The protocol independent IMpower family consists of the NPE10 network processing engine, the TMC10 traffic management co-processor, the SE200 switch element, and the Development Workbench software development kit. This powerful array of wire-speed, fully programmable semiconductors and software simplifies development and greatly shortens the system vendor's time to market. The ICs work together or individually to deliver a highly flexible, interoperable, and field upgradeable solution. The company is headquartered in Agoura Hills in Southern California, with design centers located in San Diego and Irvine, and sales offices in San Jose, California, and Boston, Massachusetts.

About the Outlook Conferences and Technologic Partners
Network Outlook is one in a series of annual specialized conferences focusing on the investment and emerging technology markets. Technologic Partners is a business-to-business publisher with a focus on high technology and private capital. More information about Technologic Partners can be found on the company's Web site at www.technologicpartners.com.

For more information, contact:

Kathy Tebben
818.575.2175
[email protected]