Exhibit 99.1
FOR IMMEDIATE RELEASE NEWS
- ---------------------
August 21, 2001 Nasdaq National Market-KARE
KOALA CORPORATION ANNOUNCES ADDITION
OF NANCY PIERCE TO BOARD OF DIRECTORS
Co-Founder of Carrier Access Corporation Also Selected to Head Board's
Audit Committee
DENVER, Colorado - Koala Corporation (Nasdaq National Market-KARE), a
diversified business-to-business provider of family friendly solutions, today
announced that Nancy Pierce has joined the Company's board of directors. Pierce
also has been named chairperson of the Company's audit committee, a role
previously held by John Pfannenstein, who remains an active member of the board.
The addition of Pierce brings the number of Koala Board members to five.
Pierce is the co-founder and current corporate development officer of Boulder,
Colorado-based Carrier Access Corporation, a fast-growing equipment manufacturer
that helps more than 1,800 telecommunications companies accelerate service
revenue, lower operating costs, and extend capital budgets. As corporate
development officer, Pierce directs Carrier Access' strategic partnership
initiatives and identifies and implements complementary company mergers and
acquisitions. She also is responsible for establishing the company's strategic
sales and OEM partnerships and managing legal issues for the company. Pierce,
who also serves as secretary on Carrier Access' board of directors, previously
held the positions of chief financial officer and corporate controller.
Earlier this year, Pierce was named one of Upside magazine's "50 Women in
Technology." Among other distinctions, she was selected by Ernst & Young LLP as
Entrepreneur of the Year in 1999 and Entrepreneur of Distinction in 1998. During
her tenure at Carrier Access, the company also received several honors. In 2000,
it was listed seventh on Forbes magazine's register of the "Best Small
Companies" in the nation, 28th on Business Week's list of the 100 Hottest Growth
Companies in the United States, and second on the Denver Post's list of the 100
Best Performing Companies in Colorado (first in the telecommunications sector).
In 1998, 1999 and 2000, the company attained first, second and third place
rankings, respectively, on Deloitte & Touche's "Fast 50" program in Colorado.
"We are obviously fortunate and very honored to have Nancy on Koala's board of
directors," said Mark Betker, chairman and CEO. "Her experience and success in
executing aggressive corporate growth programs and her background and insight in
financial management issues will be highly beneficial to the Company's board and
its senior management team."
Pierce has nearly two decades of experience in business analysis and
development, finance, operations and telecommunications. As chief financial
officer at Carrier Access, she obtained and closed two venture-backed funding
transactions totaling more than $16 million in 1996 and 1997 before successfully
taking the Company public in 1998. She holds a bachelor's of science degree in
communications from Colorado State University and a master's in business
administration from California State University, Chico.
"As a mother of four and a businesswoman, I have great admiration for Koala and
the role it plays with family-oriented businesses," said Pierce. "Koala has an
outstanding management team and a very bright future, and I am proud to have
been selected to serve on the Company's board."
Founded in 1986, Koala Corporation is an integrated provider of products and
solutions designed to help business become "family friendly" and allow children
to play safely in public. The Company develops and markets a wide variety of
infant and child protection and activities products, which are marketed under
the Company's recognizable "Koala Bear Kare" brand name. Koala's strategic
objective is to address the growing commercial demand for safe, public play
environments for children, as well as products and solutions that help
businesses create family-friendly atmospheres for their patrons.
Continued on Page 2
Page 2 of 2
Statements made in this news release that are not historical facts may be
forward looking statements. Such statements include projections regarding future
earnings results and are based upon the Company's current expectations and
assumptions, which are subject to a number of risks and uncertainties. Actual
results may differ materially from those projected in any forward-looking
statement. There are a number of important factors that could cause actual
results to differ materially from those anticipated by any forward-looking
information. A description of risks and uncertainties attendant to Koala
Corporation and its industry and other factors which could affect the Company's
financial results are included in the Company's filings with the Securities and
Exchange Commission including its most recent Annual Report on Form 10-K and
Quarterly Report on Form 10-Q.
###
CONTACTS:
Koala Corporation Pfeiffer High Public Relations, Inc.
Mark Betker, CEO Geoff High
303/574-3400 303/393-7044
geoff@pfeifferhigh.com