MOOT CORP business competition winners to ring NASDAQ’s opening bell

Aug. 3, 2004

AUSTIN, Texas—Dr. Gary Cadenhead, director of the MOOT CORP® business plan competition at the McCombs School of Business at The University of Austin at Texas, and this year’s winning student team at the competition will be ringing the NASDAQ Stock Market’s opening bell on Friday, Aug. 6.

This year’s MOOT CORP® winners were awarded a $100,000 seed investment for their business proposal for a safe, minimally invasive biopsy procedure that will employ ultrasonic energy to obtain high-quality tissues samples and catalyze earlier cancer detection. EANeedle, the winning concept, is the brainchild of Carnegie Mellon University business students Joshua Gerlick, Yogesh Oka and Mark O’Leary.

“The credibility of winning the ‘Super Bowl of world business plan competitions’ enables a team to raise additional funds,” says Cadenhead. “And the national exposure of opening the NASDAQ Stock Market further enhances the reputation of the winner.”

MOOT CORP®, founded in 1984 by two MBA students, was the first intercollegiate venture competition in the world. Winners from the past two decades include Austin-based start-up companies Isochron Data Corp., Ampersand Art Supply, Halsa Pharmaceuticals, Private Concepts and Partnerware Technologies.

The NASDAQ opening on Aug. 6 will be covered on several networks, including CNBC, Bloomberg and CNNfn, at about 9:38 EDT. The stock market opening also may be viewed via the NASDAQ Market Open Web cam. Web cam viewers must have Windows Media Player to open the link.

For more information contact: Ann Whitt, 512-232-6597; Dr. Gary Cadenhead, 512-471-5289.