BERYTECH HONORS DR. CRAIG BARRETT, CHAIRMAN OF INTEL DURING HIS BEIRUT VISIT

Mar Roukoz, April 18, 2007 - Taking advantage of his presence in Beirut, Dr. Craig R. Barrett, Chairman of Intel Corporation visited the technology pole Berytech in Mar Roukoz, where a technology training center was baptized in his honor. Barrett was received by Berytech’s President Mr. Maroun Chammas, the Board and Staff members of Berytech, and a host of entrepreneurs. A plate carrying his name was unveiled during a short ceremony which was followed by a tour of the premises, including the incubator. Upon the conclusion of his visit, Barrett declared “The future is in the hands of the next generation of the entrepreneurs”.

This visit comes in the framework of the “Partnership for Lebanon” and as part of Intel’s efforts to drive a series of new initiatives that aim to help the reconstruction of Lebanon and provide an economic boost. Since the start of the program in 2006, the Partnership for Lebanon has supplied critical resources for reconstruction efforts. The group is focused on job creation, workforce training and education, rebuilding the country's communications and computing capabilities, providing connectivity to communities and government, and responding to crisis.

Earlier in the day, Barrett had publicly announced Intel Capital plans to invest $500,000 in Berytech Fund, an initiative of the technological pole. The purpose of this investment is to help the incubator drive technology innovation in this emerging region and achieve its vision of setting the stage for further equity participation and later stage investments. The Berytech Fund is a seed/first stage investment fund with a stated goal of investing in up to 10 technology companies.
As part of this agreement, Intel will hold a board observer position and help select companies with strong technology and business plans. Intel also retains rights to make follow-on investments in the companies that are successfully incubated.  Experts from Intel Capital, Intel’s venture capital organization, will make periodic trips to Berytech to train the companies in key aspects of management leadership, growing their businesses, and attracting equity investments
Barrett became chairman of the board of Intel Corporation in May 2005, having previously served as president, chief executive officer, member of the board and chief operating officer. He was an associate professor at Stanford University in the Department of Materials Science and Engineering before joining the company.