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Clearwell Systems Named Among Red Herring North America’s 100 Most Promising Companies

Innovation and Leadership in E-Discovery Fuel Recognition as a Top Company Driving the Future of Technology

MOUNTAIN VIEW, Calif.—May 22, 2008Clearwell Systems, Inc., a leader in Intelligent E-Discovery, today announced that Red Herring has named the company to it’s 2008 Red Herring 100 North America list, an honor awarded to the top 100 private technology companies. With deployments of the Clearwell E-Discovery Platform® across hundreds of enterprises, law firms and service providers, Clearwell consistently demonstrates innovation and market tractionqualities that are required for consideration as a Red Herring 100 company.

“Having received more than 800 submissions, it is clear that we are witnessing a new outburst of creativity,” says Joel Dreyfuss, editor-in-chief of Red Herring. “With venture capital flowing again, it’s exciting to see technology innovators and business investors collaborate to create disruptive technologies. The Red Herring 100 North America companies are impressive up-and-comers, and definitely the ones to watch.”

Due to the growing numbers of lawsuits and regulatory inquiries, and tremendous growth in electronically stored information (ESI), more enterprises and law firms are turning to Clearwell to streamline their e-discovery process. Clearwell reduces the cost, duration, and complexity of e-discovery, enabling customers to achieve significant return on investment within days of their deployments.

“E-discovery is fast becoming a core business process, very much like finance or HR,” says Aaref Hilaly, president and CEO of Clearwell Systems. “As a result, more and more companies are adopting in-house e-discovery technology platforms to lower costs and manage risk. We are delighted to see the e-discovery market recognized by Red Herring, and are honored to be identified as the leader in the space.”

This year’s Red Herring 100 North America event marked the 11th anniversary of the Red Herring 100 Awards, which have bestowed past honors on Google, Salesforce.com, YouTube and numerous other companies that have gone on to significantly change the technology landscape. Red Herring’s annual lists of top private companies are an important part of the company’s tradition of identifying new and innovative technology companies and entrepreneurs. Red Herring’s editorial staff rigorously evaluated more than 800 private companies through a careful analysis of financial data and subjective criteria, including quality of management, execution of strategy, and dedication to research and development.

About Clearwell Systems
Clearwell Systems is transforming the way enterprises perform e-discovery in response to litigation, regulatory inquiries, and corporate investigations. By automating the processing, analysis and review of all electronically stored information, Clearwell enables enterprises to accelerate early case assessments, lower processing costs, reduce review workload, and gain control of e-discovery. Clearwell was ranked a “Top 5” e-discovery software vendor for corporations in the 2007 Socha-Gelbmann Electronic Discovery Survey. For more information, visit www.clearwellsystems.com or read the E-discovery 2.0 blog at: http://www.clearwellsystems.com/e-discovery-blog/.

About Red Herring
Red Herring is a global media company which unites the world’s best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters, and major events for technology leaders around the globe. Red Herring provides an insider’s access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. More information about Red Herring is available on the Internet at www.redherring.com.