<PAGE>
OMB APPROVAL
--------------------------
OMB NUMBER: 3235-0145
EXPIRES: DECEMBER 31, 1997
ESTIMATED AVERAGE BURDEN
HOURS PER RESPONSE...14.90
--------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)*
TranSwitch Corporation
----------------------
(Name of Issuer)
Common Stock, $.01 par value
----------------------------
(Title of Class of Securities)
894065 10 1
-----------
(CUSIP Number)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).
<PAGE>
CUSIP NO. 894065101 13G PAGE 2 OF 17 PAGES
- -------------------- --------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Advanced Technology Ventures II, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
Not Applicable (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0 shares
-------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 186,246 shares
-------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0 shares
-------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 186,246 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
186,246 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
Not Applicable
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.6%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 17 pages
<PAGE>
CUSIP NO. 894065101 13G PAGE 3 OF 17 PAGES
- -------------------- --------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Advanced Technology Ventures III, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
Not Applicable (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0 shares
-------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 186,246 shares
-------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0 shares
-------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 186,246 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
186,246 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
Not Applicable
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.6%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 17 pages
<PAGE>
CUSIP NO. 894065101 13G PAGE 4 OF 17 PAGES
- -------------------- --------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
NP Associates
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
Not Applicable (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0 shares
-------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 186,246 shares
-------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0 shares
-------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 186,246 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
186,246 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
Not Applicable
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.6%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 17 pages
<PAGE>
CUSIP NO. 894065101 13G PAGE 5 OF 17 PAGES
- -------------------- --------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ATV Associates III, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
Not Applicable (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0 shares
-------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 186,246 shares
-------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0 shares
-------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 186,246 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
186,246 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
Not Applicable
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.6%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 17 pages
<PAGE>
CUSIP NO. 894065101 13G PAGE 6 OF 17 PAGES
- -------------------- --------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Albert E. Paladino
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
Not Applicable (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 27,064 shares
-------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 186,246 shares
-------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 27,064 shares
-------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 186,246 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
213,310 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
Not Applicable
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.8%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 17 pages
<PAGE>
CUSIP NO. 894065101 13G PAGE 7 OF 17 PAGES
- -------------------- --------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Pieter J. Schiller
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
Not Applicable (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0 shares
-------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 186,246 shares
-------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0 shares
-------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 186,246 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
186,246 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
Not Applicable
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.6%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 17 pages
<PAGE>
CUSIP NO. 894065101 13G PAGE 8 OF 17 PAGES
- -------------------- --------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jos C. Henkens
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
Not Applicable (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0 shares
-------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 186,246 shares
-------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0 shares
-------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 186,246 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
186,246 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
Not Applicable
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.6%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 8 of 17 pages
<PAGE>
Schedule 13G
------------
Item 1(a). Name of Issuer: TranSwitch Corporation
---------------
Item 1(b). Address of Issuer's Principal Executive Offices:
-----------------------------------------------
8 Progress Drive, Shelton, Connecticut 06484.
Item 2(a). Names of Persons Filing: Advanced Technology Ventures II,
-----------------------
L.P., Advanced Technology Ventures III, L.P., NP Associates,
ATV Associates III, L.P., Albert E. Paladino, Pieter J.
Schiller and Jos C. Henkens.
NP Associates is the sole general partner of Advanced
Technology Venture II, L.P. ATV Associates III, L.P. is the
sole general partner of Advanced Technology Ventures III,
L.P. Messrs. Paladino, Schiller and Henkens are individual
general partners of both NP Associates and ATV Associates
III, L.P.
Item 2(b). Address of Principal Business Office or, if None, Residence:
-----------------------------------------------------------
The address of the principal business office of Advanced
Technology Ventures II, L.P., Advanced Technology Ventures
III, L.P., NP Associates, ATV Associates III, L.P., Albert E.
Paladino and Pieter J. Schiller is 281 Winter Street,
Waltham, MA 02154. The address of Jos C. Henkens is 485
Ramona Street, Suite 200, Palo Alto, California 94301.
Item 2(c). Citizenship: Advanced Technology Ventures II, L.P., Advanced
-----------
Technology Ventures III, L.P. and ATV Associates III, L.P.
are limited partnerships organized under the laws of the
State of Delaware. NP Associates is a limited partnership
organized under the laws of the State of New York. Each of
Messrs. Paladino, Schiller and Henkens is a United States
citizen.
Item 2(d). Title of Class of Securities: Common Stock, $.01 par value
----------------------------
per share
Item 2(e). CUSIP Number: 894065 10 1
-------------
Item 3. If this statement if filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a:
(a) [ ] Broker or Dealer registered under Section 15 of the
Securities Exchange Act of 1934 (the "Act").
(b) [ ] Bank as defined in Section 3(a)(6) of the Act.
<PAGE>
(c) [ ] Insurance Company as defined in Section 3(a)(19) of
the Act.
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act of 1940.
(e) [ ] Investment Advisor registered under Section 203 of
the Investment Advisers Act of 1940.
(f) [ ] Employee Benefit Plan, Pension Fund which is subject
to the provisions of the Employee Retirement Income
Security Act of 1974 or Endowment Fund; see Rule 13d-
1(b)(1)(ii)(f) of the Act.
(g) [ ] Parent Holding Company, in accordance with Rule 13d-
1(b)(ii)(G) of the Act.
(h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H) of
the Act.
Not Applicable.
Item 4. Ownership.
---------
(a) Amount Beneficially Owned
Each of Advanced Technology Ventures II, L.P., Advanced
Technology Ventures III, L.P., NP Associates, ATV
Associates III, L.P. (individually an "Entity" and
collectively the "Entities"), Pieter J. Schiller and Jos C.
Henkens may be deemed to own beneficially 186,246 shares of
Common Stock as of December 31, 1996. Albert E. Paladino
may be deemed to own beneficially 213,310 shares of Common
Stock as of December 31, 1996.
As of December 31, 1996, Advanced Technology Ventures II,
L.P. was the record owner of 26,957 shares of Common Stock,
and Advanced Technology Ventures III, L.P. was the record
owner of 159,289 shares of Common Stock. (The shares held
of record by Advanced Technology Ventures II, L.P. and
Advanced Technology Ventures III, L.P. are referred to
herein collectively as the "Record Shares"). By virtue of
the affiliate relationships among the Entities, each Entity
may be deemed to own beneficially all of the Record Shares.
Hence, each Entity may be deemed to own beneficially
186,246 shares of Common Stock. In their capacities as
individual general
<PAGE>
partners of NP Associates and ATV Associates III, L.P.,
each of Messrs. Paladino, Schiller and Henkens may be
deemed to own beneficially 186,246 shares of Common Stock.
Mr. Paladino may be deemed to own beneficially an
additional 27,064 shares of Common Stock.
(b) Percent of Class:
Advanced Technology Ventures II, L.P.: 1.6%
Advanced Technology Ventures III, L.P.: 1.6%
NP Associates: 1.6%
ATV Associates III, L.P.: 1.6%
Albert E. Paladino: 1.8%
Pieter J. Schiller: 1.6%
Jos C. Henkens: 1.6%
The foregoing percentages are calculated based on the
11,869,512 shares of Common Stock reported to be
outstanding as of October 31, 1996 in the quarterly report
on Form 10Q as filed with the SEC for the quarterly period
ended September 30, 1996.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
Advanced Technology Ventures II, L.P.: 0 shares
Advanced Technology Ventures III, L.P.: 0 shares
NP Associates: 0 shares
ATV Associates III, L.P.: 0 shares
Albert E. Paladino: 27,064 shares
Pieter J. Schiller: 0 shares
Jos C. Henkens: 0 shares
(ii) shared power to vote or to direct the vote:
Advanced Technology Ventures II, L.P.: 186,246 shares
Advanced Technology Ventures III, L.P.: 186,246 shares
NP Associates: 186,246 shares
ATV Associates III, L.P.: 186,246 shares
Albert E. Paladino: 186,246 shares
Pieter J. Schiller: 186,246 shares
Jos C. Henkens: 186,246 shares
<PAGE>
(iii) sole power to dispose or direct the disposition:
Advanced Technology Ventures II, L.P.: 0 shares
Advanced Technology Ventures III, L.P.: 0 shares
NP Associates: 0 shares
ATV Associates III, L.P.: 0 shares
Albert E. Paladino: 27,064 shares
Pieter J. Schiller: 0 shares
Jos C. Henkens: 0 shares
(iv) shared power to dispose or direct the disposition:
Advanced Technology Ventures II, L.P.: 186,246 shares
Advanced Technology Ventures III, L.P.: 186,246 shares
NP Associates: 186,246 shares
ATV Associates III, L.P.: 186,246 shares
Albert E. Paladino: 186,246 shares
Pieter J. Schiller: 186,246 shares
Jos C. Henkens: 186,246 shares
Each of reporting persons expressly disclaims beneficial
ownership of any shares of Common Stock of TranSwitch, except
in the cases of Advanced Technology Ventures II, L.P. for the
26,957 shares which it holds of record, Advanced Technology
Ventures III, L.P. for the 159,289 shares which it holds of
record and Mr. Paladino for the 27,064 shares which he holds of
record.
Item 5. Ownership of Five Percent or Less of a Class.
--------------------------------------------
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class of securities, check
the following [X].
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
----------------------------------------------------------------
Not Applicable.
Item 7. Identification and Classification of the Subsidiary which
---------------------------------------------------------
Acquired the Security Being Reported on By the Parent Holding
-------------------------------------------------------------
Company.
-------
Not Applicable.
<PAGE>
Item 8. Identification and Classification of Members of the Group.
---------------------------------------------------------
Not Applicable. The Reporting Persons expressly disclaim membership
in a "group" within the meaning of Regulation 13D.
Item 9. Notice of Dissolution of Group.
------------------------------
Not Applicable.
Item 10. Certification.
-------------
Not Applicable. This statement on Schedule 13G is not filed
pursuant to Rule 13d-1(b).
<PAGE>
SIGNATURES
----------
After reasonable inquiry and to the best of my knowledge and belief, we
certify that the information set forth in this statement is true, complete and
correct. We also hereby agree to file this statement jointly pursuant to the
Agreement set forth as Exhibit 1 hereto.
Date: February 13, 1997
ADVANCED TECHNOLOGY VENTURES II, L.P.
By: NP Associates
By: *
------------------------------
General Partner
NP ASSOCIATES
By: *
------------------------------
General Partner
/s/ Albert E. Paladino
- ------------------------------
Albert E. Paladino
*
- ------------------------------
Pieter J. Schiller
*
- ------------------------------
Jos C. Henkens
ADVANCED TECHNOLOGY VENTURES III, L.P.
By: ATV Associates III, L.P.
By: *
---------------------------
General Partner
ATV ASSOCIATES III, L.P.
By: *
---------------------------
General Partner
/s/ Albert E. Paladino
- ------------------------------
Albert E. Paladino
*
- ------------------------------
Pieter J. Schiller
*
- ------------------------------
Jos C. Henkens
*By: /s/ Albert E. Paladino
-----------------------
Albert E. Paladino
Attorney-in-Fact
This Schedule 13G is executed pursuant to a Power of Attorney, filed with
the Securities and Exchange Commission on or about February 14, 1996, in
connection with a Schedule 13G for TranSwitch Corporation, which Power of
Attorney is incorporated herein by reference, and a copy of which is attached
hereto as Exhibit 2.
---------
<PAGE>
EXHIBIT 1
--------
AGREEMENT
---------
Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934, the
undersigned hereby agree that only one statement containing the information
required by Schedule 13G need be filed with respect to the ownership by each of
the undersigned of shares of Common Stock of TranSwitch Corporation.
This Agreement may be executed in any number of counterparts, each of which
shall be deemed an original.
Date: February 13, 1997
ADVANCED TECHNOLOGY VENTURES II, L.P.
By: NP Associates
By: *
------------------------------
General Partner
NP ASSOCIATES
By: *
------------------------------
General Partner
/s/ Albert E. Paladino
- ------------------------------
Albert E. Paladino
*
- ------------------------------
Pieter J. Schiller
*
- ------------------------------
Jos C. Henkens
ADVANCED TECHNOLOGY VENTURES III, L.P.
By: ATV Associates III, L.P.
By: *
---------------------------
General Partner
ATV ASSOCIATES IV, L.P.
By: *
------------------------------
General Partner
/s/ Albert E. Paladino
- ------------------------------
Albert E. Paladino
*
- ------------------------------
Pieter J. Schiller
*
- ------------------------------
Jos C. Henkens
*By: /s/ Albert E. Paladino
-----------------------
Albert E. Paladino
Attorney-in-Fact
This Agreement is executed pursuant to an executed Power of Attorney, which
is attached hereto as Exhibit 2.
---------
<PAGE>
EXHIBIT 2
---------
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears
below hereby constitutes and appoints Albert E. Paladino his true and lawful
attorney-in fact, with full power of substitution, to sign any and all
instruments, certificates and documents that may be necessary, desirable or
appropriate to be executed on behalf of himself as an individual or in his
capacity as a general partner of any partnership, pursuant to Section 13 or 16
of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and any
and all regulations promulgated thereunder, and to file the same, with all
exhibits thereto, and any other documents in connection therewith, with the
Securities and Exchange Commission, and with any other entity when and if such
is mandated by the Exchange Act or by the By-laws of the National Association of
Securities Dealers, Inc., granting unto said attorney-in-fact full power and
authority to do and perform each and every act and thing necessary, desirable or
appropriate, fully to all intents and purposes as he might or could do in
person, thereby ratifying and confirming all that said attorney-in fact, or his
substitutes, may lawfully do or cause to be done by virtue hereof.
IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
14 day of February, 1996.
By /s/ Pieter J. Schiller
-------------------------------
Pieter J. Schiller
By:
-------------------------------
Jos C. Henkens
<PAGE>
EXHIBIT 2
---------
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears
below hereby constitutes and appoints Albert E. Paladino his true and lawful
attorney-in fact, with full power of substitution, to sign any and all
instruments, certificates and documents that may be necessary, desirable or
appropriate to be executed on behalf of himself as an individual or in his
capacity as a general partner of any partnership, pursuant to Section 13 or 16
of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and any
and all regulations promulgated thereunder, and to file the same, with all
exhibits thereto, and any other documents in connection therewith, with the
Securities and Exchange Commission, and with any other entity when and if such
is mandated by the Exchange Act or by the By-laws of the National Association of
Securities Dealers, Inc., granting unto said attorney-in-fact full power and
authority to do and perform each and every act and thing necessary, desirable or
appropriate, fully to all intents and purposes as he might or could do in
person, thereby ratifying and confirming all that said attorney-in fact, or his
substitutes, may lawfully do or cause to be done by virtue hereof.
IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
14 day of February, 1996.
By:
------------------------------
Pieter J. Schiller
By: /s/ Jos C. Henkens
------------------------------
Jos C. Henkens
