AuthentiDate Announces Appointment Of Management Team; Additions to Enhance Strategic, Financial and Operational Capabilities.

Business & Technology Editors

SCHENECTADY, N.Y.--(BUSINESS WIRE)--Feb. 5, 2001

AuthentiDate, Inc., a subsidiary of BitWise Designs, Inc. (Nasdaq: BTWS) and a trusted provider of content authentication, today announced a series of key executive appointments to its management team.

Together, these executives will focus on expanding the proprietary AuthentiDate technology and pursuing market leadership in the high growth e-business security marketplace.

The team is comprised of five key executives: Nick Themelis as Chief Technology Officer; Patrick Lang as Vice President of Finance and Administration, Chief Financial Officer; Barry Bergman as Vice President of Worldwide Sales; Alex Cooper as Vice President of Business Development; and Richard Reichgut as Vice President of Marketing. The members of the management team report to AuthentiDate's CEO Robert Van Naarden.

"We are very excited about this first-rate team of senior executives. The talent that we've attracted and the level of experience each of these individuals contributes will be tremendous assets as we augment AuthentiDate's financial, marketing, operational, and overall management expertise," said Van Naarden. "Together, we are committed to making AuthentiDate the leader in the field of content authentication by maximizing development opportunities and taking the Company to a new level of innovation, service and performance."

As businesses move towards a rapidly increasing number of paperless transactions, AuthentiDate is positioning itself as the Trusted Content Authority. AuthentiDate's patent-pending technology addresses the need for the verification of digital information in all business processes. The AuthentiDate solution eliminates the possibility of the alteration of any electronic file without detection, enabling users to authenticate a file's originality with true evidentiary status, insured to protect all parties. AuthentiDate will initially target markets that have a critical need to verify the authenticity and originality of content included in documents, spreadsheets, e-mails, digital images and digital recordings.

Nick Themelis serves as Chief Technology Officer of AuthentiDate. He is also CTO of BitWise Designs, Inc., AuthentiDate's parent company, and a member of the Board of Directors, posts he will continue to hold. Prior to joining AuthentiDate, he was Senior Vice President of the e-Commerce Technology Group at Lehman Brothers in New York and also served as Chief Information Officer at Lehman Brothers-Asia. Mr. Themelis has more than 16 years experience working with high technology systems and assisting new technology ventures in implementing their business plans. He received a BS in Computer Science from Hunter College in New York.

Patrick D. Lang has been appointed Vice President, Finance and Administration and Chief Financial Officer. Prior to joining AuthentiDate, he spent the last 13 years with high technology companies. Most recently, Mr. Lang was Vice President, Finance and Administration and CFO for Sensar, Inc., and before that he was with the Sarnoff Corporation, formerly the David Sarnoff Research Center, a world-class research and development facility in Princeton. Mr. Lang brings with him strong financial, accounting, and general management skills well suited for growing high technology companies. He recently served as a CFO Advisory Board Member of the New Jersey Technology Council. Mr. Lang received a BA in Economics and Accounting from Ursinus College in Pennsylvania and is a Certified Public Accountant.

Barry Bergman serves as Vice President, Worldwide Sales. Mr. Bergman has a 25-year career working with a variety of high-tech companies. He has held executive and field sales positions at such companies as Cisco Systems, Sun Microsystems, Digital Equipment and Bluestone Software. During his tenure at these companies, he personally sold and managed sales of over $400 million in hardware and enterprise level software. Mr. Bergman has extensive experience in managing major/strategic account teams, starting up new sales organizations, building sales infrastructures and recruiting sales forces. He holds a BS in Engineering with Honors from Cooper Union School of Engineering and an MBA from New York University's Stern School of Business.

Alex Cooper serves as Vice President, Business Development for AuthentiDate, Inc. Mr. Cooper will be collaborating with AuthentiDate's channel partners to maximize integration and enhance their customer offerings. Prior to joining AuthentiDate, Mr. Cooper was responsible for Strategic Alliances and Business Development for the ERP vendor, Ross Systems. Mr. Cooper has started two Inc. 500 award-winning companies in software consulting and electronic bill payment during a 17-year career selling, marketing, consulting, and managing software and services for technology companies. He holds a BA in Cognitive Science from Vassar College in Poughkeepsie, New York.

Richard Reichgut has been named Vice President, Marketing. Mr. Reichgut will be working to position AuthentiDate as the industry standard in content authentication through significant brand development and channel partner programming, supported by the sales force. Prior to joining AuthentiDate, Mr. Reichgut was the senior Vice President of marketing for New Era of Networks, Inc. (NEON). He has several years of marketing experience at companies such as the Harris Corporation and Quotron. After leaving Quotron, Mr. Reichgut joined Sun Microsystems, where he worked for 10 years, holding management positions in engineering, sales and marketing. Additionally, Mr. Reichgut played a part in spearheading Sun's Java Development and Sales Divisions. He left Sun Microsystems to serve as Vice President of business development at Novera Software (now Mercator Software). Mr. Reichgut holds a BS in computer science from the University of Texas.

About the Company

On January 8, 2001, BitWise Designs, Inc. (Nasdaq: BTWS) announced the restructuring and renaming of the Company to AuthentiDate Holding Corp. (AHC), (Nasdaq: ADAT), which is expected to be completed in Spring of 2001. AHC is the parent company of three wholly-owned subsidiaries; AuthentiDate Inc., DocStar and DJS Marketing Group/Computer Professionals International. AuthentiDate, Inc. has received patent-pending status for its innovative technology that can verify the authenticity of digital data with virtual certainty. AuthentiDate's solution addresses the need for strong legally binding content verification of digital information in all business processes. DocSTAR is a complete, turnkey solution for storing and retrieving paper files electronically. DJS Marketing Group/Computer Professionals International performs computer integration services and sells computer products.

This press release contains certain forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934. When used in this release, the words "believe," "anticipate," "think," "intend," "plan," "will be," "expect," and similar expressions identify such forward-looking statements. Such statements regarding future events and/or the future financial performance of The Company are subject to certain risks and uncertainties, which could cause actual events or the actual future results of The Company to differ materially from any forward-looking statement. Such risks and uncertainties include, among other things, the availability of any needed financing, The Company's ability to implement its business plan for various applications of its technologies, the impact of competition, the management of growth, and the other risks and uncertainties that may be detailed from time to time in The Company's reports filed with The Securities and Exchange Commission. In light of the significant risks and uncertainties inherent in the forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by The Company or any other person that the objectives and plans of The Company will be achieved.