Contact Information

Steve Poppe Matthew Kraft

Fifth Generation Systems, Inc. Spector and Associates

516.625.8900 x224 212.943.5858

steve.poppe@5g.com mkraft@spectorandassociates.net

Fifth Generation Systems, Inc. Secures $5.3 Million in Series B Funding

VisiCalc Co-Creator Dan Bricklin Joins Board of Directors

Roslyn, N.Y., January 17, 2008 – Fifth Generation Systems, Inc. (5g), creators of Zude, the social computing platform that provides users an unprecedented level of freedom and design customization, announced today the completion of Series B financing, totaling $5.3 million. Investors include Irwin Lieber and Barry Rubenstein of Wheatley Partners, Persistency Capital, and Gund Investment, LLC., with additional funding by Bergstein, LLC. 5g will use this new round of financing to accelerate product development and expand its user base.

In addition, 5g announced the appointment of Dan Bricklin, co-creator of VisiCalc, and Barry Rubenstein of investment firm Wheatley Partners, to its board of directors. They join current board members: Stephen Winningham, Managing Director and Global Head of Financial Institutions for Lloyds TSB; Daniel Bergstein, chair of Hastings, Janofsky & Walker’s International Telecommunications and Media Practice Group; and Warren Thaler, president of Gund Investment Corporation; in addition to co-founders Jim McNiel and Steve Repetti.

“These new additions to the board will help keep 5g at the forefront of business and technological innovation.” said Jim McNiel, 5g CEO. “Dan Bricklin brings incredibly deep software expertise to the table. Barry Rubenstein brings a wealth of experience with tech ventures. Together, they add invaluable tech leadership to our company.”

McNiel also announced the appointment of technology entrepreneur Brian Young as senior vice president of business development. Before joining 5g, Young was founder of Hampton Technology Ventures, an early stage technology investor, as well as founder and CEO of Thor Technologies, Inc. a pioneer in enterprise-provisioning and access rights management software.

“With this new round of financing, the addition of new board members and the appointment of a business development veteran, an already fast-growing 5g is better positioned than ever for greater growth and expansion,” said McNiel.

Board Members Enhance 5g’s Tech Leadership

Board Member Dan Bricklin is currently president and founder of Software Garden, Inc., a small consulting firm and developer of software applications. He is best known for co-developing VisiCalc, the first electronic spreadsheet, while he was a student at the Harvard Business School. Mr. Bricklin also co-founded Trellix Corporation, a provider of website publishing technology, Slate Corporation, a developer of application software for pen computers, as well as Software Arts, the developer of VisiCalc.

Barry Rubenstein is general partner and co-founder of Wheatley Partners. He has been a founder of several technology companies. He co-founded Woodland Venture Fund in 1976 and Seneca Ventures in 1979. Together, these partnerships have invested in more than 200 private and small capitalization public technology companies. Mr. Rubenstein was also a general partner of 21st Century Partners, a private equity partnership.

Zude – A Platform for Personal Expression

5g’s social computing platform, Zude, provides users an unprecedented level of freedom and creativity. Zude’s groundbreaking drag-and-drop technology lets users build countless web pages and place video, pictures and text anywhere. Offering a complete set of networking tools, Zude connects users in ways never possible before.

In addition to making it easier to create a personalized Web presence, Zude provides a unique drag and drop interface that frees users from having to use the rigid forms, profiles and templates that constitute most social networking applications. This flexibility empowers them to fully express themselves on the Web and develop deeper connections between themselves and their friends and family.

About Fifth Generation Systems, Inc. (5g)

Fifth Generation Systems, Inc. (5g) is a Roslyn Heights, New York-based company whose mission is to give everyone a voice on the Web.

The company’s Web 2.0 application, Zude, is a new social computing platform offering users an unprecedented level of freedom and design customization. Using an endless supply of free web pages, groundbreaking drag-and-drop technology and a complete set of social networking features, users can create a media-rich website experience to share with the world.