Grandville, MI, - X-Rite, Incorporated (NASDAQ/NMS: XRIT), a leading global provider of technology solutions that measure color and light, announced that its strategic venture capital fund, XR Ventures, L.L.C., has made a number of strategic investments including a company on the leading edge of the micro laboratory field. XR Ventures joined the first round of venture funding for HandyLab, Inc., a "lab on a chip" company located in Ann Arbor, Michigan. According to the company's founders, HandyLabTM is developing a revolutionary micro laboratory to allow physicians and other health care practitioners to quickly obtain critical diagnostic information at the point of care. The "lab on a chip" product will be able to fit easily in the palm of the hand and will be able to interface with relevant medical information systems, as necessary. Currently, clinical applications are being investigated that would allow physicians, with a critical need for real time assessment and treatment strategies, to more readily access the required information to make those determinations. A recent industry study suggests that most physicians are now forced to wait 36 to 48 hours for such data. "Opportunities for venture capital investments are strong and require companies to move quickly," said Rich Cook, President and CEO of X-Rite, Incorporated. "I am pleased with the direction and speed at which our XR Ventures team is moving and anticipate that they will both compliment our current markets and move us beyond our traditional color and light applications. XR Ventures began their investment strategy with the acquisition of the HoloVisionTM product line. This expanded our technology expertise into the relatively uncharted area of precisely measuring space using a 3D perspective. Now the investment of HandyLab launches us into another major technology rich area of the market." The Company stated that XR Ventures looks for early stage investment opportunities, including defensible intellectual property. The investments will typically fall within the areas of telecommunications; microsystems in the areas of optical communications and biomedical analysis; web infrastructure; and other emerging technologies. Partners in XR Ventures include X-Rite, Dr. Peter M. Banks, and James A. Knister. Banks and Knister have extensive experience in small company start-ups, technology management, and investing. Both have had careers as executives in technology companies and have participated extensively in new technology initiatives. In addition to seeking out new technology opportunities and intellectual properties, XR Ventures will help in the development and success of its acquisitions and investments.