BPV Invests in Advanced Processing & Imaging, Inc

ST. PETERSBURG, FL, August 20, 2008 - Ballast Point Ventures L.P. (BPV), a venture capital firm affiliated with Raymond James Financial, Inc. (NYSE-RJF) today announced it has closed a growth equity investment in Advanced Processing & Imaging, Inc. (API). BPV was the only investor in the $2 million financing which will be used to fund API’s market expansion. Advanced Processing & Imaging, Inc. provides innovative electronic document and content management, imaging, and report management systems for a variety of public and private enterprises across a range of sectors in the United States.

The company is a technological leader of cutting edge document imaging and retention software. API’s strength lies in the integration capability of the solutions since there is no reprogramming necessary of customers’ existing application software and no disruption to existing databases. Its software is specifically designed to be intuitive to learn and easy to use while offering a comprehensive range of capabilities.

API is led by CEO Mel Rothberg who has more than 30 years experience in the bioscience and IT industry. He previously held multiple roles with Dow Chemical and Cordis Dow and was instrumental in selling Dow’s dialysis division to Althin Medical.

Dick Brandewie, managing partner of Ballast Point Ventures, will join the API’s board of directors.We are pleased to welcome Ballast Point Ventures to the API team and to have Dick Brandewie join our board,” said Rothberg. “The partners at BPV have an impressive background and network in the technology industry and a successful track record of investing in high-quality growth companies. With this investment, we now have the necessary resources to enable us to execute on our growth plans.

Brandewie, who has invested in numerous private companies throughout the Southeast and Texas, remarked, We are pleased to have the opportunity to invest in Advanced Processing & Imaging. Mel and his team have done an outstanding job building the company to date without outside capital. This infusion of capital will allow API to accelerate its growth and aggressively pursue additional opportunities.

The investment in API reflects the Ballast Point Ventures strategy of providing expansion capital to rapidly growing, well-managed companies in the Southeast and Texas. About Advanced Processing & Imaging, Inc. Advanced Processing & Imaging (API), headquartered in Deerfield Beach, Florida, are experts in document and enterprise content management solutions and are creators of OptiView(R) ECM, OptiSpool(TM), OptiWorkFlow(TM), AgendaMaker(TM) and more.  

API's strength lies in the integration capability of the solutions -- there is no reprogramming of the customer's existing application software and no disruption to existing databases.  The unique technology allows API to supersede others in the industry in terms of ease of integration with other systems including ERP, CRM and other mission-critical functions. OptiView ECM is now also certified under the 5015.2-STD standard set by the U.S. Department of Defense.

About Ballast Point Ventures, L.P.

Ballast Point Ventures, L.P. is a later stage venture capital fund established to provide expansion capital for rapidly growing, privately owned companies in diverse industries, with a particular emphasis on companies located in Florida, the Southeast and Texas.  The BPV partners have more than 70 years of combined experience investing in and building high-growth companies in a number of industries, including healthcare, business services, communications, technology, consumer products and specialty retail.  The Fund seeks to make equity investments ranging in size from $2 million to $10 million.