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IN-Q-TEL NAMES DR. MICHAEL D. GRIFFIN AS PRESIDENT AND CHIEF OPERATING OFFICER

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August 5, 2002
Arlington, VA

On August 5th, Dr. Michael D. Griffin joined In-Q-Tel, Inc. - the independent, nonprofit venture group created and funded by the CIA -as its new President and Chief Operating Officer. Dr. Griffin brings over 30 years of expertise in management of information and space technology to further In-Q-Tel's objective of identifying and investing in companies with cutting edge commercial technologies that can help the CIA accomplish its mission.

"We're delighted that someone with Mike's reputation and talent will be playing a pivotal role in the overall strategy and direction of the company," said Gilman Louie, In-Q-Tel's Chief Executive Officer. " His leadership will be instrumental in driving our ability to deliver innovative capabilities that address the CIA's critical information technology challenges."

Dr. Griffin joins In-Q-Tel from private practice as an engineering and management consultant in the aerospace and defense industry. He was previously the CEO of the Magellan Systems Division of Orbital Sciences Corporation, and has also served as General Manager of Orbital's Space Systems Division and as the company's Executive Vice President and Chief Technical Officer. Prior to his tenure at Orbital, he was a Sr. Vice President of Space Industries International, and General Manager of the company's Space Industries Division in Houston. Mike joined private industry following a period of government service in both DoD and NASA, culminating in his role as a team leader for the redesign of the International Space Station.

Dr. Griffin has served as an adjunct professor at the University of Maryland, Johns Hopkins University, and George Washington University. He is the co-author of the textbook Space Vehicle Design, and has received the Department of Defense Distinguished Public Service Medal, the highest award which can be conferred by the DoD on non-government employees.

Mike obtained his B.A. in Physics from the Johns Hopkins University, and holds Masters degrees in Aerospace Science from Catholic University, Electrical Engineering from the University of Southern California, Applied Physics from Johns Hopkins, Civil Engineering from George Washington University and Business Administration from Loyola College of Maryland. He received his Ph.D. in Aerospace Engineering from the University of Maryland.

Dr. Griffin replaces Ronald B. Richard, who resigned as COO in order to establish Stem Cell Preservation Technologies, Inc., a start up biotechnology firm. Mr. Richard remains active as a member of In-Q-Tel's advisory board.

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