California, 25th July 2006: Linguamatix has been named as a finalist for the 2006 Red Herring 100 Asia Award. The award recognizes companies which have shaped the future of technology innovation and transformed markets.

Red Herring recognizes that innovation primarily comes from entrepreneurs, but that success comes from a combination of innovation, management, money, strategy and execution. All these factors are taken into consideration when evaluating the potential of companies and technologies to succeed. This year Red Herring assessed more than 600 private companies on both quantitative and qualitative criteria such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their competitive environment. Linguamatix was selected for the business opportunity represented by its new and innovative technology.

The Red Herring Awards are an important part of the magazine's tradition of identifying new and innovative technology companies and entrepreneurs. Companies like Google and eBay were spotted in their early days by Red Herring editors as those that would change the way we live and work.

Linguamatix develops high-throughput translation systems that enable real-time communication across the language barrier. "Our technologies operate 100 times faster than current best-of-breed technologies," says Robert Hercus, MD, Linguamatix. "As a result it has become possible to enable searching and surfing of the whole Internet in a non-English language, and even to enable trans-lingual chat. We are honored to be selected by Red Herring as one of Asia's most promising technology companies."

Linguamatix is a R&D company pioneering a new paradigm in the field of automatic translation. Various applications are being developed for commercialization in a range of areas that require global access to information such as trans-lingual communications, real-time monitoring, and professional translation. Linguamatix technologies have been tested and their capabilities verified by industry experts, by Netizens, and by newcomers to the Internet. Further information is available from www.linguamatix.com. To experience Linguamatix technologies you can visit www.linguamatix.com/linguaweb.

Red Herring, Inc is a media company whose mission is to cover innovation, technology, financing, and entrepreneurial activity. It is staffed by award-winning journalists who work in offices around the globe. The Red Herring magazine is the weekly magazine technology entrepreneurs, investors and industry observers read to stay ahead of the curve and to be better informed about the global marketplace. Red Herring covers technology, innovation, financial strategies, important personalities and trends that are transforming the world of business with unique insight, opinion and forward-looking analysis. Readers turn to Red Herring for knowledge to make strategic decisions, build companies and create a competitive advantage for their businesses. Red Herring articles, blogs, research and event information can be found online at www.redherring.com.