NEW YORK INVESTMENT BANKER DAN PURJES JOINS BOARD OF SILICON VALLEY'S FIRST PACIFIC NETWORKS
NEW YORK INVESTMENT BANKER DAN PURJES JOINS BOARD OF
SILICON VALLEY'S FIRST PACIFIC NETWORKS
SAN FRANCISCO, Nov. 12 /PRNewswire/ -- Dan Purjes, chairman and CEO of Josephthal, Lyon & Ross Inc. (formerly Rosenkrantz, Lyon & Ross Inc.) a New York Stock Exchange investment banking firm specializing in emerging technology companies, has been appointed to the board of directors of Sunnyvale, Calif.-based telecommunications company First Pacific Networks Inc.
Purjes, 41, has been chairman/CEO of Josephthal, Lyon & Ross since 1988. He was formerly vice-president of both Bear Stearns & Co. and L.F. Rothschild and, during the mid-1970s, owned computer systems company Systems Enterprises Inc., which he later sold.
"Dan Purjes will help provide the strategic financial direction necessary for FPN to realize the full potential of its technology," said FPN President James Gibby. "He brings to the board a great depth of experience in successfully guiding technology-based companies to long-term financial stability and success."
First Pacific Networks recently signed a $12 million investment and licensing agreement with Louisiana-based electricity utility, Entergy Corp. Established in 1988, FPN provides sophisticated multi- media networking products for the business systems marketplace and fully distributed digital telephony switching for telephone services on CATV systems in domestic and international markets.
/CONTACT: Michael Fineman or Barbara Feder of Fineman Associates, 415-391-4744, for First Pacific Networks/ CO: First Pacific Networks ST: California IN: TLS SU: PER RM -- SF002 -- 3352 11/12/91 10:01 EST