WARP Technology Holdings, Inc. Appoints Malcolm Coster as President and Interim CEO.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 18, 2003 Leading Provider of Network and Application Acceleration Technology Augments; Executive Management Team to Advance Company's Growth WARP Technology Holdings, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: WRPT WRPT Wisconsin Railway Preservation Trust ), a leading provider of network and application acceleration technology solutions, today announced that Malcolm Coster Cos´ter n. 1. One who hawks about fruit, green vegetables, fish, etc. , a WARP board member and a significant investor in the company, has been appointed as interim 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 replacing Karl Douglas, who has resigned for personal reasons. In connection with this appointment, Mr. Coster will also assume the role of Chairman of the Board of Directors. Mr. Coster has over 35 years of executive and senior management level experience. He is a former President of Unisys-Europe and has held executive and board level positions with British Petroleum, Coopers and Lybrand, MTL Instruments Group The MTL Instruments Group plc is an international business headquartered in Luton, UK, with a turnover in excess of £90M (y.e.2006). The group positions itself in the field of intrinsic safety explosion protection devices, fieldbus technology and surge protection. and British Technology Group. Mr. Coster graduated with special honors from Kings College, University of London For most practical purposes, ranging from admission of students to negotiating funding from the government, the 19 constituent colleges are treated as individual universities. Within the university federation they are known as Recognised Bodies . "With recent, rapid adaptation of our network and application acceleration technology solutions, WARP has reached a critical milestone and the company is preparing for the next stage of growth," said Karl Douglas, who will continue to serve as a director and an advisor to the company. "We are opening up the executive management team to enable the company to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. its early successes worldwide." "Malcolm's vast experience in strategic alliances and global business development is of particular significance and importance at this phase of WARP's evolution," commented Dr. David Milch David S. Milch (March 23, 1945, Buffalo, New York) is an American television writer and producer. He was graduated Phi Beta Kappa and Summa Cum Laude from Yale and won the Tinker Prize in English. He earned an MFA from the Writer's Workshop at the University of Iowa. , WARP's Executive Director, Office of the Chairman. "We are pleased to have his level of expertise available to help the entire WARP team accelerate the company's strategic plan and technology leadership, and move our company to the next level." About WARP Technology Holdings, Inc. WARP Technology Holdings (OTC BB: WRPT) is a leading provider of network and application acceleration technology solutions. Through its subsidiaries WARP Solutions, Inc. and SpiderSoftware, Inc., and pending acquisition of iMimic Networking, Inc., the company offers a strategic portfolio of software and hardware solutions to significantly improve the speed, performance, and reliability of business-critical applications and content delivered over IP-based networks. For information, contact 877-688-9277 or visit www.warpsolutions.com. Cautionary Statement Statements contained herein which are not historical information are 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 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. Such statements are subject to certain risks and uncertainties. Actual results could differ materially from those included in the forward-looking statements for a variety of reasons, including the level of acceptance of the WARP 2063e product by the marketplace, the ability of the product to achieve the results for which it is designed, the ability of the company to raise capital to fund operations and marketing programs for this product, competition from other approaches to application acceleration and network architecture, and other risks described in the Company's filings with the Securities and Exchange Commission. These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements. |
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