US based Red Herring Magazine, the insider's guide to the technology business featuring insight on the emerging technologies, has nominated Carmen Systems as a finalist for the Red Herring 100 award.

Red Herring has a long tradition of discovering new and innovative technology and entrepreneurs. Since 1996, Red Herring editors have selected a group of private companies that are emerging as the brightest stars in the business universe.

"More than a list of private companies with attractive financials, the Red Herring 100 recognizes organizations with the potential to transform current markets or to create entirely new ones," said Alex Vieux, publisher and CEO for Red Herring.

"We are carrying on the tradition of the Red Herring 100 award because it showcases the entrepreneurial spirit and defines the future of technology innovation."

Over the last few months, Red Herring editors have spent hundreds of hours talking with experts and carefully examining over 500 private global companies´ business models, financials, and management teams. Red Herring's unique approach of using both qualitative measurements and quantitative business metrics to assess a company´s potential sets it apart from other lists.

This year´s selection process was weighted to reflect the reality of survival in today's challenging marketplace: generating revenues, establishing a strong customer base and equally strong industry partnerships.

The winners will be announced at the Red Herring Spring Conference on May 18, 2004 in Monterey, California.