Compellent Technologies Named as Tekne Award Finalist

Awards recognize Minnesota's companies and individuals who have shown technology innovation and leadership

Minneapolis, September 17, 2003 - Compellent Technologies announced today its selection as a finalist for a 2003 Tekne Award, Minnesota's annual awards program that recognizes the individual and company leaders in the innovation, development, commercialization and management of technology.

The Minnesota High Tech Association (MHTA) and Minnesota Technology, Inc. (MTI), in partnership with Medical Alley, MNBIO and Minnesota Project Innovation, join together in this effort to recognize the companies and individuals who have demonstrated technology innovation and leadership in Minnesota.

"Compellent is honored to be named as a finalist for the Tekne Award and recognized for our innovation. The overwhelming response from our customers and business partners to date indicate that this is going to be our biggest success yet" said Phil Soran, president and CEO, Compellent Technologies.

"The MHTA commends Compellent Technologies for making the commitment to technology in Minnesota," said Kate Rubin, President of the Minnesota High Tech Association. "We are proud to honor Compellent as a 2003 Tekne Award finalist and are pleased to recognize their outstanding work."

Dr. James Benson, Chair of the Board of Directors for Minnesota Technology, Inc. added: "These Tekne Award finalists are the cream of the crop. Minnesota is fortunate to have many outstanding companies, but to be named a Tekne Award finalist is truly special. These companies show that Minnesota continues to be a great place to do business."

The fourth annual Tekne Awards will be held on Oct. 23, 2003, at the Minneapolis Convention Center with special guest speaker, Gov. Tim Pawlenty. Forty-seven finalists have been named in 15 categories. A list of all finalists and categories can be found at www.tekneawards.org. The 2003 Tekne Award recipients will represent technology innovators who have made lasting contributions to enhancing the quality of life and competitiveness of Minnesota.

About Compellent Technologies
Compellent Technologies is developing a new storage architecture delivering the utmost flexibility to store, manage, and recover mission-critical data. Headquartered in Eden Prairie, Minnesota, Compellent has raised over $23 million in financing from leading investment teams including Cargill Ventures, Crescendo Ventures, and El Dorado Ventures. For additional information visit www.compellent.com.

About MTI
Minnesota Technology, Inc. (MTI) is recognized as a leading provider of technology information and strategic consulting services for manufacturers, technology businesses, and communities throughout Minnesota and the Midwest region. MTI combines strategic advice and information with technology to meet its customers quality, productivity, and profitability goals. MTI has a 10-year return on investment track record of adding more than $800 million to the bottom lines of 4,500 small to medium-sized Greater Minnesota companies. For more information visit www.minnesotatechnology.org.

About MHTA
The Minnesota High Tech Association accelerates the growth, success and sustainability of Minnesota's technology-based economy through public policy advocacy, member collaboration and education, and community outreach. MHTA is the only membership organization that represents Minnesota's entire technology-based economy. MHTA members include organizations of every size - involved in virtually every aspect of technology creation, production, application and education in Minnesota. MHTA works in partnership with AeA, which represents Minnesota's technology organizations nationally. More information on the MHTA can be found at www.mhta.org.

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