Bipin Agarwal to Leave Tanning Technology Corporation; Company Co-Founder To Pursue Other Interests.Business Editors & High-Tech Writers DENVER--(BUSINESS WIRE)--Jan. 16, 2002 Tanning tanning, process by which skins and hides are converted into leather. Vegetable tanning, a method requiring more than a month even with modern machinery and tanning liquors, employs tannin; its use is shown in Egyptian tomb paintings dating from 3000 B.C. Technology Corporation (Nasdaq: TANN TANN The Avenues Neighbourhood Network (UK) ), a global provider of IT solutions, today announced the planned departure of Bipin Agarwal, one of the Company's co-founders. Mr. Agarwal, who founded the Company together with Larry Tanning in 1993, and served in a variety of executive capacities, informed the Company that he was planning to leave to pursue other interests. Mr. Agarwal would also resign from the Company's Board of Directors. Mr. Agarwal said: "Helping to build Tanning has been an extraordinary and rewarding experience. The Company and I have reached a point at which it makes sense for me to pursue a separate path. I am pleased that I leave the Company in very capable hands, with strong management, talented employees and excellent prospects." Larry Tanning, Chairman and Chief Executive Officer of the Company, said: "Bipin has been a friend and business partner for nearly a decade. His technical expertise, industry insight and devotion to our business have been major contributors to our growth and success. We wish him well in his future endeavors." About Tanning Technology Corporation Tanning is a global systems integrator An individual or organization that builds systems from a variety of diverse components. With increasing complexity of technology, more customers want complete solutions to information problems, requiring hardware, software and networking expertise in a multivendor environment. and IT services provider that delivers value to our customer by building, customizing and integrating mission-critical IT systems that must meet stringent requirements for reliability, availability and scalability. Our elite team of IT professionals specializes in addressing the challenges facing Global 1000 companies with complex, high-volume, database and transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. needs. Tanning's Powering Performance(TM) solution offerings -- Proof of Integration(TM), Performance Operations Engineering(TM) and Performance Test Engineering(TM) -- enable our clients to realize a competitive advantage by effectively leveraging and integrating their information systems and assets. More information about Tanning can be found at www.tanning.com. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 This press release includes 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. within the meaning of Section 21E of the Securities Exchange Act of 1934, including statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's expectations, beliefs, hopes, intentions, prospects and strategies. Such forward-looking statements are subject to various risks and uncertainties, many of which are beyond the control of the Company. Actual results could differ materially from the forward-looking statements and the Company's expectations as a result of, among other things, variations in demand for information technology services and in economic conditions generally, the Company's ability to attract business from new clients, and maintain and expand business from its existing clients, potential difficulties in managing growth, controlling costs, recruiting and retaining technical and management professionals and key employees, the Company's dependence on its principal clients, the ability of clients to terminate projects before completion, difficulties associated with international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. and expansion, difficulties in estimating the time and resources necessary for project engagements and in continuing to perform challenging, time-sensitive and critical projects in a manner that satisfies the Company's clients, potential collection risks arising from clients with uncertain financial condition, the intensely competitive nature of the business areas in which the Company competes, difficulties in responding to changing technology, industry standards and client preferences, difficulties associated with potential acquisitions and investments, and the other factors set forth in the Company's prospectus dated July 22, 1999, its quarterly reports on Form 10-Q Form 10-Q See 10-Q. , and its annual reports on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , each as filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Tanning, the Tanning logo, "Powering Performance," "Proof of Integration," "Performance Test Engineering," and "Performance Operations Engineering" are trademarks of Tanning Technology Corporation. All other trademarks are the property of their respective owners. |
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