July 13, 2004


CiDRA Selected to receive 2004 R&D 100 Award

Wallingford, CT - July 13, 2004

CiDRA Corporation ("CiDRA") today announced that it has been selected to receive the 2004 R&D 100 Award from R&D Magazine. The SONARtrac™ Process Monitoring System was selected by an independent judging panel and the editors of R&D Magazine as one of the most technologically significant products introduced into the marketplace over the past year.

For 42 years, the prestigious R&D 100 Awards have been helping companies provide the important initial push a new product needs to compete successfully in the marketplace. The winning of an R&D 100 Award provides a mark of excellence known to industry, government, and academia as proof that the product is one of the most innovative ideas of the year.

"Let me personally congratulate your project team on the design, development, test and production of this remarkable product. This year's program was especially competitive and CiDRA should be proud of this accomplishment," said Tim Studt, Editor in Chief, with R&D Magazine.

CiDRA's SONARtrac flow technology is a new class of industrial flowmeter, utilizing measurement principles that are distinct from all other available flowmeter technologies. By installing on the existing process lines, SONARtrac clamp-on flow monitoring systems eliminate the process disruptions associated with installing other types of flowmeters. This passive, sonar-based technology enables measurements of single phase and multiphase flows as well as slurries, with the same level of accuracy and performance.

Please watch for the September 2004 edition of R&D Magazine for all the details on the R&D 100 Awards, while additional information on this award and R&D Magazine are available at http://www.rdmag.com.

For additional information on CiDRA's products and services, please visit www.cidra.com.

About Axiom Venture Partners L.P.
Axiom Venture Partners provides capital and strategic assistance to rapidly growing high technology companies. Axiom's professionals bring substantial investing experience and industry expertise to the venture capital process. With over $200M in capital under management, the firm seeks to consider investment proposals in two main industry areas. The first is high technology, which includes communications, software, Internet infrastructure, and information technology. Biotechnology constitutes the second area. Through its office in Connecticut, Axiom invests actively throughout the United States in early or late stage companies. For more information, visit www.axiomventures.com