ACT Networks Announces Andre De Fusco to Become President and Chief Executive Officer.CAMARILLO, Calif.--(BUSINESS WIRE)--July 1, 1998--ACT Networks Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ANET) today announced that Andre de Fusco, 40, has been appointed President and Chief Executive Officer. Most recently, de Fusco was Vice President of Business Development and General Manager of ACT Broadband broadband Term describing the radiation from a source that produces a broad, continuous spectrum of frequencies (contrasted with a laser, which produces a single frequency or very narrow range of frequencies). Network Systems (BNS Noun 1. BNS - a bachelor's degree in naval science Bachelor of Naval Science bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies ), and has held other senior management positions including Vice President of Marketing since joining the Company in December 1994. De Fusco replaces Martin Shum who resigned to pursue personal interests. Shum founded the Company in 1987 and has served as ACT's President and Chief Executive Officer since that time. De Fusco will also replace Shum on the Company's Board of Directors. Prior to joining ACT Networks, de Fusco served as Director of Major Accounts for Northern Telecom Europe and Director of Marketing for Northern Telecom Wireless Systems. Before joining Northern Telecom, de Fusco held the position of President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of MAXOM Corp., an electronic mail software developer. Martin Shum, the Company's former President and CEO, commented: "ACT was a pioneer in voice-over-Frame Relay and has developed a number of superior products for its targeted markets. Today's markets are dynamic and require a company to not only maintain technological excellence, but to quickly adapt to changing market conditions. ACT is now evolving into a market-driven company and I firmly believe that Andre possesses the skills, knowledge and leadership to advance the Company into the future." De Fusco commented, "I want to thank Martin Shum for his years of service and vision for ACT. His contributions will be missed and we wish him the best in all his future endeavors." This press release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. regarding future events and future financial performance of the Company. These statements are only predictions and actual events or results may differ materially as a result of a number of factors including, without limitation, the factors discussed in the Company's last Reports on Forms 10-K and 10-Q under "Risk Factors" and the risks associated with the possibility that the market for Frame Relay A high-speed packet switching protocol used in wide area networks (WANs). Providing a granular service of up to DS3 speed (45 Mbps), it has become popular for LAN to LAN connections across remote distances, and services are offered by most major carriers. products will not continue to develop or that the Company's products and capabilities will not address emerging market needs; the effect of increased competition; changing technologies, product obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. and new product developments; the loss of significant customers; the Company's ability to effectively integrate acquisitions; the Company's ability to manage its growth; international sales, tariff tariff, tax on imported and, more rarely, exported goods. It is also called a customs duty. Tariffs may be distinguished from other taxes in that their predominant purpose is not financial but economic—not to increase a nation's revenue but to protect domestic and regulatory matters; reliance on third party suppliers and on resellers for distributing its products, and the Company's ability to retain key personnel and to adequately protect its proprietary technology. ACT Networks Inc. develops, manufactures, and markets Frame Relay wide-area network access products which support a broad range of voice, data and integrated network A network that supports both data and voice and/or different networking protocols. See converged network and new public network. applications. The Company is focused on three strategic markets: enterprise networks (ACTnet(TM) and NetPerformer(R)), satellite networks (SkyFrame(TM)) and carrier networks (ServiceXchange(TM) and DynaStar(TM)). End users and service providers worldwide use the Company's products to build cost-effective, bandwidth efficient, easy-to-manage wide area networks (WANs). The Company's products incorporate advanced voice and data compression data compression Process of reducing the amount of data needed for storage or transmission of a given piece of information (text, graphics, video, sound, etc.), typically by use of encoding techniques. algorithms, switching capabilities and proprietary integration technologies. For more information about ACT, contact our website at www.acti.com.
CONTACT: ACT Networks Inc.
Melvin Flowers, 805/388-2474
or
Morgen-Walke Associates
Chris Danne or Jeannine LaPietra, 415/296-7383
Sandy Badurina, 212/850-5600
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