Waltham, Massachusetts – ( target=_blank>The Hosting News) – November 2, 2006 – Web host and data management solutions firm, Phase Forward’s Chief Executive Officer and President, Bob Weiler, presented at the 2006 Needham Funds Shareholder Conference at The University Club in New York City.

The Needham Funds 2006 Shareholder Conference features both institutional and individual investors. This event included portfolio managers Vince Gallagher and James Kloppenburg, who discussed three funds, and gave a review of the past year with a 2007 outlook. A shareholder question and answer session followed. In addition, top executives from five of the Needham Funds investment companies were featured.

The Phase Forward audio presentation is available at the Investor section of the Company’s web site, and may be replayed until January 17, 2007.

Needham Asset Management, LLC is a wholly owned subsidiary of The Needham Group, Inc. and an investment management firm specializing in investing in the equity securities of growth companies, with a focus on the technology, healthcare, business services, and consumer sectors. The firm’s product offerings include public mutual funds, limited partnerships and private equity funds.

Phase Forward’s products and services have been utilized in over 10,000 clinical trials involving more than 1,000,000 clinical trial study participants at over 230 organizations and regulatory agencies worldwide including: AstraZeneca, Biogen Idec, Boston Scientific, Dana-Farber Cancer Institute, Eli Lilly, Food and Drug Administration, GlaxoSmithKline, Guidant, Merck, U.K. Medicines and Healthcare Products Regulatory Agency, National Institutes of Health, Procter and Gamble, Quintiles, sanofi-aventis, Schering-Plough Research Institute and Serono.

To learn more about Needham Asset Management, LLC, please visit: www.needhamfunds.com.

For more information about Phase Forward, please visit: www.phaseforward.com.

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