Spencer Trask acquire Computer Aided Decisions

Boston, MA, Feb 24, 2000 – Mirus Capital Advisors, one of Boston’s leading merger & acquisition advisory firms, is pleased to announce the sale of its clients, Computer Aided Decisions, Inc. (CAD) and CAD Research (CADR) to Spencer Trask Securities, Inc., a New York City-based investment firm.

CAD is a software engineering company which has developed a financial record- keeping system that is utilized by a number of major clients, including Citibank and the State of Florida. It also has developed a web-based software engine that facilitates on-line portfolio record-keeping, automating a wide variety of critical record-keeping tasks for the individual investor, including the capability to do fully consolidated portfolio record-keeping, real-time portfolio valuations, performance analytics, and the automatic analysis of all corporate actions, including stock splits, dividend and coupon payments. These extensive product capabilities far exceed those of any other product of its type in the marketplace.

CAD Research, a spin-off of Computer Aided Decisions, Inc., is a licensee of all of the advanced financial record-keeping software of CAD, and is responsible for the marketing of this revolutionary web-based product.

According to Peter Alternative at Mirus, “This transaction represents a key opportunity for Spencer Trask to enter the large and rapidly growing market of individual investor activity on the Internet, and to provide the individual investor with a critically-needed set of tools and capabilities unlike any currently available on the Internet.” According to Forrester Research, the number of on-line individual investor brokerage accounts is expected to increase from 3.0 million in 1997 to 14.4 million in 2002, a compound annual growth rate of 36.9 percent.

Spencer Trask, a private equity firm which has recently invested in such companies as Myriad Genetics and Ciena, purchased both companies as a platform for focusing on individual investor financial activities on the web. The principals of Mirus, retained on an exclusive basis by both Computer Aided Decisions, Inc. and CAD Research, initiated these transactions, acted as financial advisor to the selling stockholders of both companies and participated in the negotiations leading to their successful conclusions.

About Mirus Capital Advisors

Mirus Capital Advisors provides investment banking solutions to corporate clients in technology, business services, manufacturing, consumer products, health care and the resort & hospitality industry. Since 1987, Mirus has provided corporate finance advisory services on engagements including mergers, acquisitions, divestitures, recapitalizations and valuations. For additional information, visit www.merger.com.