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University of Iowa News Release

July 18, 2003

Ramaanchar Technologies Locates At UI's Technology Innovation Center

At its meeting July 17, the Board of Regents, State of Iowa approved a lease for Ramaanchar Technologies as the newest tenant of the University of Iowa's Technology Innovation Center (TIC).

Ramaanchar Technologies provides information technology and software development services. The company will be located in Suite 212 in the TIC, the UI's business incubator for new technology-based ventures on the Oakdale Campus in Coralville.

The company focuses on custom software application development using web/Java technology, database management systems and software engineering. It has developed software applications for a wide range of fields including insurance, magazine fulfillment, sales and marketing, hospitals, computer-aided learning and many others.

Company founders are Iowa City residents Raman Aravamudhan, chief executive officer and R. Subathra Aravamudhan, president. Subathra Aravamudhan is a student in the UI Henry B. Tippie College of Business. Raman Aravamudhan received bachelor's and master's degrees in engineering from Regional Engineering College and PSG College of Technology (India) and has worked in technology businesses since 1987. He is a senior member of the Institute of Electrical and Electronics Engineers. Their company was formerly located in Iowa State University's business incubator.

Ramaanchar Technologies becomes the 74th new technology-based business venture admitted to the TIC since the UI incubator was established in 1984.

With the addition of Ramaanchar Technologies, the TIC will have 16 tenant companies. Twenty-six TIC "graduate" firms have expanded their business or met other business goals after leaving the incubator and a half-dozen other companies remained in business after leaving TIC.

STORY SOURCE: University of Iowa News Services, 300 Plaza Centre One, Suite 371, Iowa City, Iowa 52242-2500.

CONTACTS: Media: George McCrory, University of Iowa News Services 319-384-0012, TIC: Tom Bauer, associate director 319-335-4067 or Ramaanchar: