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Gridstone Research emerges from stealth, welcomes new investors

Fremont, California
March 2, 2006

Gridstone Research (known thus far as Perputo, Inc.), a provider of analysis and tools for investment managers, today announced the completion of a financing round led by Charles River Ventures (CRV) and Maverick Capital Ltd (Maverick). In connection with the financing, Izhar Armony from CRV and David Singer from Maverick will join the company's Board of Directors. Funds from this round of financing will be used to expand the company's product offering, ramp up operations in India and for Sales & Marketing.

The company also announced its emergence from stealth with the beta launch of its flagship platform for Investment Managers.

The Gridstone platform analyzes unstructured information, in addition to financials, guidance and operational data. Powerful modeling tools then pull this information through a unique interface into flexible, extensible earnings models. Gridstone's platform therefore frees the investment professional to focus on developing the insights essential to making successful investment decisions.

"Over the last seven months we've proven all the basic concepts in our business model and are now ready to accelerate" said Basab Pradhan, CEO of Gridstone Research. "We're delighted to have on board such a strong group of investors as we move into a phase of aggressive growth."

"While we have been making India-related investments for the past eight years, Gridstone represents a completely new and innovative business model," said Izhar Armony, a general partner at CRV. "By creating intellectual capital and leveraging the India model, this team has created a truly world class platform. From our early investment in Yantra, an Infosys spin-off, we have tracked their careers with interest and admiration. They have all the right capabilities and values to build a great company."

"Gridstone will add tremendous value to Maverick's investing process, which is based on deep, fundamental research", said Steve Galbraith, Principal at Maverick Capital. "We are continuously looking for great investment opportunities, and tools to give us an edge in the market - in Gridstone we found both."

About Gridstone Research
Gridstone Research is a powerful and flexible analysis and modeling platform that helps investment professionals make better investment decisions, faster.

The founders of Gridstone, all alumni of Infosys Technologies (NASDAQ: INFY), bring with them a rich and diverse set of backgrounds - product and domain expertise, sales and marketing, technology, and high quality, scalable, research operations.

Gridstone is headquartered in Fremont, California, with research operations in Mumbai, India.

For more information, please email info@gridstoneresearch.com or visit www.gridstoneresearch.com.

About Charles River Ventures
Charles River Ventures is one of the industry's leading venture capital firms with more than 35 years of experience in investing in great entrepreneurs and building great companies, and more than $2 billion under management. With Offices in Waltham and Menlo Park, the firm focuses on early stage technology investments in the USA, India, and Israel. www.crv.com.

About Maverick Capital

Maverick Capital is a global investment fund founded in 1993 that has over $10 billion in assets under management. The firm employs a 'fundamental' or 'bottom-up' approach to stock selection and has a variety of paradigms and methodologies to analyze different opportunities.

Gridstone Research
P R Ganapathy
Phone: +1 (510) 378-4244

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