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Toronto -- The GATX/MM Venture Finance Partnership ("the Partnership") is pleased to announce that it has completed a $2.0MM venture loan financing with Triple G Systems Group, Inc. ("Triple G"). The proceeds will be used in conjunction with Triple G's May/99 acquisition of intellectual property and other assets of an Australian company and for general corporate purposes.

Triple G develops and distributes laboratory information systems ("LIS") combining software tools and client-server technologies. Triple G's comprehensive laboratory information systems provide functionality and flexibility in all areas of the clinical laboratory and focuses on cost reduction, scalability, and integration.

The worldwide operation of Triple G is headquartered in Markham, Ontario with Lee Green as Chairman and Chief Executive Officer. With its recent acquisition Triple G will operate two divisions, Triple G North America led by Paula Hucko, President and COO, and Triple G Asia Pacific headed by Graham Thomson, Managing Director. Research and Development will operate on a global basis out of two centres in each of the North American and Asia Pacific regions.

"As a result of this transaction (the acquisition), we significantly strengthen our operations, client base and R&D activities," said Green. "We welcome the synergies that will benefit our clients on a worldwide basis. The company will aggressively channel its research and development investments in its products to maintain and grow its customer base in the global healthcare marketplace"

Triple G Corporation now has 167 combined active customers operating in more than 350 sites in seven countries. Approximately 66% of revenues are currently generated within the United States.

"Triple G has positioned itself as the leader in North America for large scale LIS systems with its proprietary software, prestigious client base, strong management team, and excellent track record. With its recent Australian acquisition it now has a global platform to execute on its business strategy. As the healthcare industry worldwide continues to find better solutions to balance the growing demand for its services and pressures to reduce costs there should be substantial opportunities for Triple G to capitalize on." said Minhas Mohamed, Managing Partner of the Partnership.

For further information please contact:

Robert McQuade
Chief Financial Officer
Triple G Systems Group, Inc.
Phone: 905-305-0041
Long Distance: 1-888-874-7534
Fax: 905-305-0046

Mr. Ron Patterson
MM Venture Partners
Phone: 416-977-9718
Fax: 416-591-1393
Posted in: Life Sciences

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