Dixon Doll of DCM Elected Chairman of NVCA Board of Directors, Six New Directors Also Named to NVCA

Santa Clara, CA (May 7, 2008) – The National Venture Capital Association (NVCA) has named
Dixon R. Doll, co-founder and general partner of Menlo Park-based DCM, as its 2008-2009
chairman. Dr. Doll’s chairmanship was announced today at the 2008 NVCA Annual Meeting at
the Hyatt Regency in Santa Clara, CA.

He succeeds Ted Schlein, partner, Kleiner Perkins Caufield & Byers, who has completed his oneyear
tenure as NVCA chairman. Mr. Schlein’s leadership was instrumental during the past year
when public policy issues critical to the health of the venture capital industry, such as the carried
interest tax rate, were actively debated on Capitol Hill. Dr. Doll is looking forward to assuming
this important role.

“As the NVCA celebrates its 35th anniversary, we remain dedicated to our core mission – to
support and encourage policies which serve America’s entrepreneurs and innovators,” said Dixon
Doll, co-founder and general partner, DCM, and chairman of the NVCA Board of Directors. “In
the next year we will continue to focus on high impact areas such as clean technology policy,
patent reform, tax policy and regulations which support a healthy capital market system and
overall U.S. competitiveness,” Doll added.

“Dixon is a seasoned investor with vast experience in the global venture capital arena. His
perspective will add great value to the association and the constituents and audiences we serve,”
said Mark Heesen, president, National Venture Capital Association. “His vision, combined with
the expertise of our incoming board members, promises to move the venture capital industry
forward in a meaningful way,” Heesen added.

The six new NVCA Board Members are: James Fleming, Columbia Capital; Stephen Holmes,
InterWest Partners; Deepak Kamra, Canaan Partners; Jack Lasersohn, The Vertical Group;
Trevor Loy, Flywheel Ventures; and Ray Rothrock, Venrock Associates. Each will serve a four
year term.

Retiring from the NVCA Board of Directors after successfully completing their respective four
year terms are Peter Barris, New Enterprise Associates; Michael Cronin, Weston Presidio; Rob
Ketterson, Fidelity Ventures; Joanna Rees, VSP Capital; Ted Schlein, Kleiner Perkins Caufield &
Byers; and Chad Waite, OVP Ventures.

About Dixon Doll
Dixon Doll joined the NVCA Board of Directors in 2005 and served as the 2007 annual meeting
chair. A telecom and Internet venture capital pioneer, Dr. Doll co-founded DCM, an early stage
technology venture capital firm which currently has more than $1.6 billion under management,
with offices in Beijing, China and Menlo Park, California. DCM has backed such well known
entrepreneurial companies as About.com, Clearwire(NASDAQ:CLWR),
51job(NASDAQ:JOBS), Foundry Networks(NASDAQ:FDRY), Internap(NASDAQ:INAP),
Neutral Tandem(NASDAQ:TNDM), Sling Media and VanceInfo(NYSE:VIT). The firm has
become widely recognized as one of the top Silicon Valley venture funds actively investing in
China and Japan. In the mid-1980’s, Dixon co-founded the venture capital industry’s first fund
focused exclusively on telecom.

Prior to becoming a venture capitalist, Dr. Doll founded and ran an internationally recognized
strategic consulting firm focused on telecommunications and computer networking. From 1972 to
1980, he also served as a faculty member of the IBM Systems Research Institute in New York
City, and then served on the IBM Networking Systems Organization’s External Advisory Board
from 1983 to 1991.

Dr. Doll received his B.S.E.E. degree (cum laude) from Kansas State University as well as M.S.
and Ph.D. degrees in Electrical Engineering from the University of Michigan, where he was a
National Science Foundation scholar. He serves on numerous non-profit boards including the
Asian Art Museum of San Francisco (where he is Chairman), the Stanford Institute for Economic
Policy Research (SIEPR), the Hoover Institution at Stanford, and the San Francisco Symphony.

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The National Venture Capital Association (NVCA) represents approximately 480 venture capital
and private equity firms. NVCA’s mission is to foster greater understanding of the importance of
venture capital to the U.S. economy, and support entrepreneurial activity and
innovation. According to a 2007 Global Insight study, venture-backed companies accounted for
10.4 million jobs and $2.3 trillion in revenue in the United States in 2006. The NVCA represents
the public policy interests of the venture capital community, strives to maintain high professional
standards, provides reliable industry data, sponsors professional development, and facilitates
interaction among its members. For more information about the NVCA, please visit
www.nvca.org.

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