RaySat secures 2nd Round Funding w/$27 Million

RAYSAT CLOSES $27 MILLION (USD) INVESTMENT LED BY APAX PARTNERS’ FUNDS

Vienna, VA., July 15, 2005 - Raysat, Inc. a leading global supplier of
in-motion satellite antennas for cars and trains, announced it has closed a
$27 million investment round. Funds advised by Apax Partners led the round
with an $18.6 million investment. The round was supported by existing
investors Benchmark and Seed Partners.

RaySat is a leading manufacturer and supplier of in-motion low-profile
satellite antennas for the automotive, RV, train, and trucking industries.
The Company was first to introduce several products and solutions such as
the TorpedoRay™ and EagleRay™ antennas that provide one-way and two-way
Internet access on high-speed trains; the SpeedRay™ five-inch, low-profile
line to provide Satellite TV and/or Internet for moving automobiles and the
StealthRay™ two-inch Satellite TV antenna designed to be embedded in the
roof of consumer vehicles.

The Company is led by an industry renowned management team:  Chairman Mr.
Yoel Gat spent more than 16 years as cofounder and CEO of Gilat Satellite
Networks , a world leader in very small aperture terminal
satellite (VSAT) communications.  Mr. Samer Salameh, the President & CEO,
has more than 14 years of experience in the telecommunications and high tech
industries.  Most notably, he served as chairman and CEO of Prodigy
Communications Corp., where he grew revenues from $20 million to over $300
million in two years.  Other key executives include Chief Financial Officer,
Mr. Liav Even Chen, former partner at Ernst & Young  and Mr. Niki Bassat,
Chief Operations Officer, formerly COO of Power Paper, COO of Satlynx and VP
of Operations at Gilat.

“We are pleased to welcome Apax Partners’ Funds as lead investors in our B
round.  This financing will provide us with the resources necessary to
accelerate our expansion in this new industry, which is expected to grow to
over $700M by 2009 according to a Frost and Sullivan research published
earlier this year,” notes Mr. Salameh.  “RaySat is already well positioned
as a leading player in this space, and will now be poised to accelerate its
momentum.  We started shipping our SpeedRay 1000 to our partner Audiovox
last quarter, and will now increase our production to keep up with pent-up
demand from other channels.”

Pinchas Buchris, Venture Partner at Apax Partners said: “We believe this is
a unique opportunity to invest in a high-potential company who has an
outstanding management team with proven track record in the satellite and
internet services space.  RaySat is targeting an untapped market, which is
much in line with the newest and most rewarded entertainment trends in the
automotive market”.

Pinchas Buchris will represent Apax Partners on the Board of Raysat.


About Raysat
In business since 1997, RaySat, Inc. is a leading supplier of in-motion, low
profile, phased-array satellite antennas. With the company’s TorpedoRay
product already enabling broadband Internet access on high-speed trains in
Europe, RaySat has positioned itself as a leader in the rear-seat automotive
entertainment industry with the launch of its consumer antennas in the U.S.
and Canada.  Staffed by over 120 professionals, RaySat is headquartered in
Vienna, Va., with R&D and sales facilities in Europe and representative
offices in Japan.
For additional information, see www.raysat.com


About Apax Partners
Apax Partners is one of the world's leading private equity investment
groups, operating across the United States, Europe and Israel. Apax Partners
has raised or advised approximately $20 billion around the world. With more
than 30 years of direct investing experience, Apax Partners’ Funds provide
long-term equity financing to build and strengthen world-class companies. It
pursues a multi-stage equity investment strategy, investing in late venture,
growth capital and buyouts.

Apax Partners’ Funds invest in companies across its 6 chosen global sectors
of information technology, telecommunications, healthcare, media,
financial/business services, retail and consumer. Apax Partners’ Funds
technology and telecommunications investments include Dialog Semiconductor,
DMR Consulting, Digital Fuel, Fractus, Frontier Silicon, Kabel Deutschland,
Inmarsat, Systemonic, Preventsys, Sonim Technologies and Wisair.
For additional information, see: www.apax.com or contact marketing@apax.com.