Sees Gridstone as emerging leader in "productized service" space
		Investment to enable Gridstone in expanding the product offerings and to ramp up India operations

Mumbai, December 20, 2006: Helion Venture Partners, an India-focused technology venture fund today announced their investment in Gridstone Research, that had been made in March 2006 at the time of Gridstone’s Series A. Gridstone Research is a California, USA - based firm with research operations in Mumbai, India. The company provides a powerful and flexible company analysis platform to help Investment Analysts make faster and better investment decisions.

The investment will be used to expand the Gridstone product offering, sales and marketing and to ramp up India operations. Ashish Gupta, Managing Director of Helion Ventures Pvt. Ltd. will advise the company as board observer.

"Gridstone Research is one of the most promising companies to emerge in the 'productized offshore services' space," said Ashish Gupta, "Applying the productized services model to equity research, Gridstone is creating a powerful value proposition for investment management".

Basab Pradhan, CEO, Gridstone Research said, "Gridstone's platform is being very well received in our initial forays into the market. We welcome Helion Venture Partners as an investor. The teams experience and networks will be greatly beneficial to the company."

In January, Gridstone Research plans to announce general availability of its platform for investment professionals covering the Technology sector.

About Helion Venture Partners:
Helion Venture Partners is a $140 million multi-stage, India-focused venture fund. The fund invests in technology-powered businesses such as Outsourcing, Internet, Mobile and Technology Products. The fund's investors are well-respected Global institutions including Ivy League endowment funds and highly-successful Internet pioneering entrepreneurs. The fund and its portfolio companies are advised by an experienced and industry renowned team of professionals based in India which include Sanjeev Aggarwal, Ashish Gupta, Kanwaljit Singh and Rahul Chandra.

About Gridstone:
Gridstone Research offers a powerful and flexible analysis and modeling platform that helps investment professionals make better investment decisions, faster. Gridstone is headquartered in San Mateo, California, with research operations in Mumbai, India.