Connecticut Technology Council Names Matthew Nemerson as New President & CEO.

Business Editors

EAST HARTFORD, Conn.--(BUSINESS WIRE)--Sept. 3, 2003

Greater New Haven Area Management Veteran Selected to Head

Connecticut Technology Leadership Organization

The Connecticut Technology Council (CTC), a partnership of Connecticut providers and users of technology committed to growing and diversifying the state's technology base, today announced that Matthew Nemerson has joined the CTC as its new President and CEO. Mr. Nemerson replaces J. Michael Theodore who is leaving the CTC to return to his home state of Pennsylvania due to family obligations.

Louis Hernandez, Jr., Chairman and Chief Executive Officer of Open Solutions Inc., who serves as the Chairman of the CTC said, "We at the CTC are pleased and excited to welcome Matthew to the team. Matthew's business and community service background, Connecticut roots and his experience in successfully managing other organizations will be a tremendous asset to both the state of Connecticut and the CTC. All of us on the council look forward to working with Matthew as we continue to encourage and foster the growth of technology-based businesses in our state."

As President and CEO of the CTC, Mr. Nemerson will be responsible for managing all aspects of the organization and will work closely with the CTC Board of Directors to stimulate and facilitate the growth and awareness of technology-based businesses in Connecticut. Nemerson comes to the CTC with more than 20 years of senior management experience and holds degrees from the Yale School of Management and Columbia University.

Nemerson was Chief Operating Officer of the Branford software concern Netkey, Inc for two years and previously spent 13 years as president of the Greater New Haven Chamber of Commerce. Before that he was a founding executive at the Science Park Development Corporation, the Yale University sponsored technology incubator center in New Haven. Most recently, Nemerson was a principal in a real estate and economic development entity which is pursuing several large scale real estate projects in the New Haven area.

Nemerson has long been involved in policy and community development in Connecticut. He was one of a group of founders of the Connecticut Regional Institute for the 21st Century which sponsored the so-called Gallis report on the state's economy and which also spawned the Transportation Strategy council. He has been active in recruiting technology firms to the state and also in developing more life-style and housing oriented urban centers.

Hernandez reflected on the success of Theodore as the CTC's president, "The Connecticut Technology Council continues to grow and prosper. As an organization, it continues to be one of the fastest growing technology councils in the country. On behalf of the CTC and the Board of Directors, I would like to thank Michael Theodore for his years of service, dedication to the CTC and wish him luck in his future endeavors."

Commenting on his new position, Mr. Nemerson said, "I have worked with the Connecticut Technology Council since its founding and am impressed with the Council's ongoing focus and commitment to promoting the state's technology base. There are many opportunities for us to help Connecticut's high tech firms strive and to create an even more vibrant environment for them here in the state. I look forward to my new role, working to introduce new programs and services, and contributing to the further success and growth of the organization as the chief policy voice for technology issues in the state."

As President and CEO of the organization, Mr. Nemerson joins an impressive executive board of experienced business leaders from the Connecticut technology sector, including the Chairman of the CTC, Louis Hernandez, Jr., Chairman and CEO of Open Solutions Inc., CTC Vice Chair, Michele Macauda, President and CEO of SBC SNET, CTC Vice-Chair, Tony Allen, President of the Impact Group, LLC., CTC Treasurer, William Bromage, President and COO of Webster Bank, CTC Council Secretary, Vincent Kieman, Partner at Edwards and Angell, LLP., CTC Software/IT Advisory Committee Chair, Les Trachtman, President and CEO of Transcentive, Inc., CTC Advanced Manufacturing Advisory Committee Chair, Ron Jerdonek, General Manager, Power Automation, GE Industrial Systems and CTC Life Sciences Advisory Committee Chair, Gualberto Ruano.

About the Connecticut Technology Council

The Connecticut Technology Council is the state's leading industry association of technology companies - representing, in addition to the Software/IT cluster, Bioscience, Telecommunications, and Advanced Manufacturing companies.

Founded in 1994, the Council is a private non-profit association whose mission of facilitating and stimulating the growth and awareness of technology businesses is accomplished through a variety of public policy, business development, and professional development programs and activities.

For more information about the Council, visit its web site at www.ct.org or contact the Council at [phone].