HyperSpace Communications, Inc. Names Stephen G. McConahey, Chairman and Managing Director of SGM Capital to Advisory Board

Experience in Operations and Strategic Finance Support Software Maker’s Growth

DENVER – HyperSpace Communications, Inc. (HyperSpace), a worldwide leader in the development of Internet acceleration software products, today announced that Stephen G. McConahey, chairman and managing director of SGM Capital, LLC, has joined the HCI Advisory Board. Mr. McConahey was formerly president and chief operating officer at EVEREN Capital Corporation. He also served in various roles at Boettcher and Company in Denver, and led the company as chairman and chief executive officer.

“Steve’s many years of experience in the securities and finance sectors, and his strategic roles in corporate and international development can immediately be brought to bear in advising HyperSpace,” said John P. Yeros, HyperSpace chairman. “HyperSpace has assembled a first-class board of advisors representing broad, high-level business and market expertise relevant to our strategic goals.”

In addition to McConahey, the HyperSpace Advisory Board includes Mark Endry, chief information officer of multi-national enterprise software developer J.D. Edwards & Company, and Don Winters, former chief operating officer of SignalSoft, a software provider to the mobile operator market.

Previous to his current role at SGM Capital, McConahey was president and chief operating officer of EVEREN Capital Corporation and its principal subsidiary EVEREN Securities, Inc., where he was responsible for the firm’s day-to-day operations. Mr. McConahey was a co-founder of the firm that was established as a result of the purchase of Kemper Securities in 1995. EVEREN became a public company in 1996 and was purchased by First Union Corporation (now Wachovia) in 1999.

Mr. McConahey began his career in the securities brokerage industry in 1977 when he joined Boettcher and Company in Denver, Colorado. At Boettcher he managed both the public and corporate finance departments and was named chairman and chief executive officer in 1984. He joined Kemper Financial Services in 1985 shortly after Boettcher was acquired by Kemper. He was then elected executive vice president in charge of corporate and international development, and in 1990 he assumed additional responsibilities at the Kemper Corporation, where he oversaw the strategic and capital restructuring of the parent company.

Earlier in his career, Mr. McConahey received a White House Fellowship and subsequent to that served as a special assistant to President Gerald Ford. Prior to this fellowship, he was with the consulting firm of McKinsey and Company.

Mr. McConahey has been active on numerous community boards and advisory groups, including the Metro Denver Chamber of Commerce, the Greater Denver Corporation (its first chairman), the Boys and Girls Club of Metro Denver, the Daniels College of Business Advisory Board, the Woodrow Wilson Center for International Studies, the Colorado Forum, and the Metro Denver Sports Commission.

Mr. McConahey holds a bachelor’s degree from the University of Wisconsin and a master’s degree in business administration from the Harvard Business School.