Fios' CFO Retires; Industry Veteran Joins Executive Team

Former New Edge Networks CFO, John Hesse, Joins Fios as Chief Financial Officer

PORTLAND, Ore., August 15, 2007 — Fios® Inc., the leading provider of electronic discovery readiness and response services, today announced that former New Edge Networks' chief financial officer (CFO), John Hesse, has joined the executive team at Fios. He replaces Lyman Potts as CFO, who retired after more than seven years of service with Fios and more than 35 in the industry.

John Hesse brings deep financial expertise to Fios, including more than 20 years as a CFO of both public and private companies. He has led numerous public and private financing activities, including initial public offerings (IPOs). Most recently, Hesse served as CFO of Vancouver-based New Edge Networks, building the company from the start-up phase to revenue of more than $130 million. New Edge was acquired by Earthlink in 2006.

"As one of the leading electronic discovery service providers for corporations and their law firms, Fios is committed to investing in our human capital and meeting market demand for our services," said Gerald Massey, president and CEO of Fios. "In this high-growth e-discovery market, targeted to reach $4 billion by 2009¹ , we are fortunate to have John's financial and business expertise as we enter the next phase of the company's development."

About Fios, Inc.

Serving the legal community since 1999, Fios Inc. is committed to helping corporations and supporting outside counsel reduce the costs, risks and time associated with electronic discovery. Fios' IT-enabled readiness and response services are based on an in-depth knowledge of litigation and information technology. Headquartered in Portland, Ore., Fios is backed by top investors, including 3i, Fluke Ventures, FBR CoMotion, Digital Partners and Banyan Capital Partners, and has offices throughout the continental United States. Fios is also the principal sponsor of the leading Internet portals: DiscoveryResources.org, ComplianceResources.org and TechnologyCounsel.org. For more information about the company and its services, visit http://www.fiosinc.com.

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For more information, contact:

Debbie Caldwell
Public Relations Manager, Fios Inc.
503-265-0775
dcaldwell@fiosinc.com

Fios and Fios products are trademarks of Fios Inc. Other product or service names mentioned herein are the trademarks of their respective owners.

1. 2007 Socha-Gelbmann 5th Annual Electronic Discovery Survey - www.sochaconsulting.com/2007surveyresults.php#SurveySize [back]