News Release

Cisco Entrepreneur Institute Established at Central European University Business School in Budapest

BUDAPEST, Hungary, November 28, 2007 - Cisco® today
Nov 29, 2007

BUDAPEST, Hungary, November 28, 2007 - Cisco® today announced the launch of the Cisco Entrepreneur Institute in Hungary with the Central European University (CEU) Business School. The first group of 15 entrepreneurs is starting the course this week.

The objective of the institute is to build entrepreneurial capacity by teaching the skills needed for running a small or medium-sized business (SMB) successfully. It also aims at establishing connections between SMBs and the country's most experienced business leaders. The institutes aspire to become the hubs of entrepreneurial development throughout the country.

"New businesses are a key driver of growth in emerging economies and of jobs in local communities. Cisco helps drive entrepreneurship in Central and Eastern Europe through initiatives such as the Cisco Entrepreneur Institute, as well as through project financing, leasing programs and venture fund partnerships," said Kaan Terzioglu, Cisco's vice president for Central and Eastern Europe.

The curriculum includes strategic and business planning, financing, the development of venture capital relationships, and the use of information and communications technologies (ICT) to achieve better business results. Building on the technology-enabled human network, participants not only interact with their workshop facilitators during in-person sessions, but are also introduced to media-rich e-learning content and Web 2.0 tools. The institute will also establish a network of guest speakers who will guide participants in online discussion forums and chat sessions throughout the course. Also, participants will gain feedback on their business plans, growth strategies and technology business cases from experienced entrepreneurs and business coaches.

"As a company dedicated to the development of innovative projects and marketing of inventions, ValDeal is joining the Cisco Entrepreneur Institute initiative by delegating the first attendees to the program. We expect the institute to help enable access to state-of-the-art business education, combined with practical experience of local business leaders. Entrepreneurs will learn how to create a sustainable business plan, access financing, collaborate and build a network of relationships," - said Dr. Norbert Buzas, managing director of ValDeal Innovation Zrt.

Cisco is providing to the institute a state-of-the-art business curriculum based on Cisco's iExecutive Education Program (iExec), developed by Cisco's Internet Business Solutions Group, as well My Own BusinessTM, a third-party educational program developed by My Own Business, Inc., a nonprofit organization in the United States, and endorsed by the World Bank. Cisco also provides the online course management system. The institute builds on Cisco's long history and commitment to IT education. While other Cisco learning programs are providing technology skills, the Cisco Entrepreneur Institute focuses on entrepreneurial skills and promotes SMB development through the strategic use of ICT.

CEU Business School, as a Cisco Entrepreneur Institute Training Center, is adapting the content to local market needs and is establishing contacts to other educational institutions, chambers of commerce and business associations, with the aim of building a network of entrepreneur institutes across the country. Cisco and CEU Business School will also work together with incubator hubs, venture capital funds and government agencies to support building entrepreneurial capacity in Hungary.

About CEU Business School

The Business School of Central European University is a landmark institution in the region since its inception in 1988 by a group of visionary leaders including George Soros. CEU Business School was the first educational institution in Central-Eastern Europe to offer graduate business education leading to an American MBA. Since the beginning, the School has played, and continues to play a pivotal role in linking global management theories with the realities and challenges of the region's transforming economies. Besides the degree courses (such as our IMM, Executive MBA, MBA, MSc in IT, BSc, BA, and HR management course), we also offer for executives special development and training programs that boost business success.