B.O.S. Better On-line Solutions Ltd. Announces Nomination of a New CEO and President.Business Editors/High-Tech Writers TERADYON, Israel--(BUSINESS WIRE)--Dec. 3, 2003 Adiv Baruch, Presently Executive VP Business Development of Ness Technologies, Will Be the Company's New 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. and President B.O.S. Better On-line Solutions Ltd. (the "Company" or "BOS") (Nasdaq:BOSC)(TASE TASE Tel Aviv Stock Exchange TASE The All Seeing Eye TASE Tactical Air Support Element TASE Thrust Assessment Support Environment TASE Telecontrol Application Service Elements (IEC communications protocol) :BOS) announced today that Mr. Adiv Baruch will be the next CEO and President of the Company, and will assume his position January 1, 2004. Mr. Adiv Baruch, presently Executive VP Business Development of Ness Technologies, has expertise in the Telecom and High-tech industry. Mr. Baruch is well respected in the Israeli High-tech market as well as the international markets with his strategic capabilities and marketing vision. Mr. Baruch is also a former partner and active director holding an executive position at IPEX IPEX Italian Power Exchange IPEX Immunodysregulation, Polyendocrinopathy, Enteropathy, X Linked (Syndrome) IPEX Input Parameter Extra (Alcatel) , acquired by Ness. He has served as founder and an executive or director for several IT companies and Internet start-ups, and was significantly involved in the M&A process and in assisting these companies in their global expansion. Mr. Baruch is actively involved as the chairman of the Israeli Export Institute Hi-Tech and Telecom Division. He has a B.S. in Computer Science and Industrial Engineering from the Technion -- Israel Institute of Technology. Mr. Israel Gal, founder and incumbent CEO and President, will continue to serve as a director of the Company, as well as the CEO of the Company's wholly-owned subsidiary, Boscom Ltd., thus allowing him to fully devote his time to the development and marketing of Boscom's innovative products. Edouard Cukierman, B.O.S. Chairman stated: "I believe that the nomination of Mr. Adiv Baruch as the new CEO will contribute to the development of the Company. Mr. Baruch brings with him significant relevant experience that will enable the Company to further expand and increase its position in the international markets." About B.O.S. Through its wholly-owned subsidiary, BOScom, the Company develops, produces and markets multi-functional, cross-enterprise communication and networking products. Marketed under the BOSaNOVA brand(1), these products are renowned for their simplicity of use, quality, and reliability. The IP Telephony The two-way transmission of voice over a packet-switched IP network, which is part of the TCP/IP protocol suite. The terms "IP telephony" and "voice over IP" (VoIP) are synonymous. line (www.boscom.com) offers innovative convergence migration solutions that leverage a corporation's existing equipment infrastructure. The legacy line (www.bosweb.com) provides solutions for IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) midrange-to-PC and LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. connectivity and GUI (Graphical User Interface) A graphics-based user interface that incorporates movable windows, icons and a mouse. The ability to resize application windows and change style and size of fonts are the significant advantages of a GUI vs. a character-based interface. emulation (architecture) emulation - When one system performs in exactly the same way as another, though perhaps not at the same speed. A typical example would be emulation of one computer by (a program running on) another. , and printing solutions that are operating system-independent. B.O.S. (www.boscorporate.com) was established in 1990 and became a public company traded on the Nasdaq National Market in 1996 (Nasdaq:BOSC), and on the Tel Aviv Tel Aviv (tĕl əvēv`), city (1994 pop. 355,200), W central Israel, on the Mediterranean Sea. Oficially named Tel Aviv–Jaffa, it is Israel's commercial, financial, communications, and cultural center and the core of its largest Stock Market in 2002 (TASE:BOS). The 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. contained herein reflect management's current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of BOS, including, but not limited to, those risks and uncertainties detailed in BOS' periodic reports and registration statements filed with the U.S. Securities Exchange Commission. BOS undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. (1) The "caret" above the "a" in the Company's brand name has been removed because this symbol may not appear properly in some systems. |
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