2008-09-13 23:37:01 -

www.nasvf.org - NASVF Ramona DeNies, 503-234-0558 rdenies@nasvf.org Fourth graph, second sentence of the release dated September 12th, 2008, should read: $1 billion (sted $100 billion).

The corrected release reads:

NASVF VENTURE EVENT IN MICHIGAN SETS STAGE FOR OKLAHOMA

Detroit Attracts Oversold Investors' Conference - Some Think Oklahoma City Can Be an Equal Draw in 2009

Well over 300 national and international seed and early stage investors met in Detroit today at the sold-out annual conference of the National Association of Seed and Venture Funds (NASVF) to discuss the industry's future. Conference host the Michigan Economic Development Corporation (MEDC) attributed the conference's appeal to the momentum of Michigan's multi-tiered approach to economic transformation.

"Through programs like

the 21st Century Jobs Fund, Michigan is helping entrepreneurs turn their innovations into successful enterprises," said James C. Epolito, NASVF Board member and President and CEO of MEDC. "Hosting this year's conference helps promote Michigan as a great investment destination."

Michigan is not the only state working hard to enhance its investment appeal. Oklahoma, where the 2009 NASVF Conference will be held, has also shown that it can secure venture capital for local innovators.

The Oklahoma Capital Investment Board, a venture capital fund of funds authorized by the State of Oklahoma, has attracted over 20 venture firms to prospect in the state since 1993. These firms in turn have catalyzed over $1 billion in economic value for the state, according to Robert Heard, conference participant and Managing Director of Oklahoma-based fund of funds manager Cimarron Capital Partners

"Michigan and Oklahoma are both states that continue to reinvent themselves on the backs of entrepreneurs," Mr. Heard said. "Entrepreneurs build new companies and sometimes whole new industries that can transform states like ours."

According to NASVF Chair Patricia Brasted, President and CEO of the Wichita Technology Corporation, a small but growing number of investors are looking for deals in so-called "mature" economies like Michigan.

"You can find unexpected pockets throughout the U.S. where local talent and new ideas abound," said Ms. Brasted. "I know many communities where this is the case, including in Michigan and Oklahoma."

Roy Williams, President and CEO of NASVF 2009 conference host the Greater Oklahoma City Chamber, agreed with Ms. Brasted's comments.

"Oklahoma is not shy about the progress we've engineered," Mr. Williams said. "We are proud to host NASVF 2009 and expect that our guests will not only experience a great event but also see for themselves the excitement and momentum in Oklahoma City right now."

About NASVF:

The NASVF, a U.S.-based association of private, public and nonprofit organizations committed to building their local economies by investing in local entrepreneurs, was formed in 1993. The NASVF has more than 120 members actively involved in capital formation for entrepreneurs.

Detroit Attracts Oversold Investors' Conference - Some Think
Oklahoma City Can Be an Equal Draw in 2009