[NAYNA Networks LOGO]
Nayna Networks, Inc.
180 Rose Orchard Way
San Jose, CA 95134
Phone (408) 956-8000
Fax (408) 956-8730
Nayna Networks Appoints Three New Members To Its Board
Veteran Execs Strengthen Nayna Corporate Finance, Operations and
Business Development Leadership
San Jose, Calif., USA - May 23, 2005 - Nayna Networks, Inc., (OTCBB: NAYN), a
provider of next generation network solutions, today announced that its board of
directors has appointed Richard Berman, William Boller and William O'Connor to
the board.
The appointment of three veteran corporate executives, with more than 100 years
combined senior-level global expertise, strengthens the company's leadership in
corporate finance, operations and business development. They bring the total
number of board members to six.
o Berman has advised on over $4 billion in M&A transactions in a career
that spans 35 years of venture capital, management and mergers &
acquisitions experience. He has served as an advisor, manager, director
and financier to more than 50 companies.
o Boller is an accomplished senior manufacturing and operations executive
with more than 30 years management experience at leading Fortune 500
technology companies. He recently retired from Agilent Technologies
(NYSE: A) as Vice President & General Manager, Worldwide Order
Fulfillment & Manufacturing.
o O'Connor is a senior financial and operating executive with a
successful 40-year track record of leadership at public and private
companies ranging from technology to life sciences.
"This is an auspicious day for Nayna Networks," said Naveen Bisht, president and
chief executive officer, Nayna Networks. "We are fortunate to augment our board
with three exceptional, world-class executives whose vast expertise aligns
perfectly with Nayna Networks' business model. I am delighted to welcome all
three gentlemen to the Board, and am confident they will make strong and lasting
contributions to Nayna's growth and long-term success."
Additional Bio Information
o Richard Berman has served as director or chairman of about a dozen
companies over the past five years. He is currently Chairman of
National Investment Managers (OTCBB: NIVM) and Candidate Resources, a
privately held company delivering HR services over the web. Presently,
he serves as a director of nine emerging-growth public companies
including Internet Commerce Corporation (Nasdaq: ICCA) where he was
formerly chairman and CEO, GVI Securities Solutions (OTCBB: GVIS) and
International Microcomputer Software (OTCBB: IMSI).
[NAYNA Networks LOGO]
Nayna Networks, Inc.
180 Rose Orchard Way
San Jose, CA 95134
Phone (408) 956-8000
Fax (408) 956-8730
Earlier, Berman worked at Goldman Sachs, and was Senior Vice President
of Bankers Trust Company where he started the M&A and Leverage Buyout
Departments. He has U.S. and foreign law degrees, from Boston College
and The Hague Academy of International Law, respectively. Richard
earned his B.S and M.B.A. degrees from NYU, where he is a past director
of the Stern School of Business.
o William Boller recently retired from Agilent Technologies as Vice
President & General Manager, World-Wide Order Fulfillment &
Manufacturing. There, he was responsible for the Communications
Solutions Group end-to-end supply chain strategy and management for
production of the company's complex range of test instrumentation in
that market.
Prior to Agilent's spin-off from Hewlett Packard (NYSE: HPQ), Boller
served HP for nearly 30 years, most recently as the Senior Managing
Director for International Procurement and Supply Chain Operations. In
this role, he directed staff in 15 countries and was responsible for
access and procurement of $11 billion in manufacturing materials and
services annually for HP divisions worldwide. Boller joined HP as an
engineer in 1971 and successfully managed a wide variety of
organizations in all aspects of HP's businesses, including product
development, marketing, consulting and operations. He led the start up
of a number of organizations in several new businesses for HP.
Boller earned a B.S. in Mechanical Engineering from Stanford
University, an M.S. in Mechanical Engineering from the University of
Southern California and an MBA from Stanford University. He has been an
advisor or a member of the board of directors of several different
companies and currently sits on the board of the Military Vehicle
Technology Foundation.
o William O'Connor is President and CEO of Microbarrier Technologies, a
Santa Cruz, CA-based developer and marketer of patented systems and
products controlling fluid flow and integrity throughout their use life
by pharmaceutical, health care and other industries.
Previously, O'Connor served as EVP and Chief Financial Officer of
various technology companies including Arcsoft, Inc., a global digital
imaging technology company serving OEM and Internet enterprises, and
iLogistix, where he developed a new-product/services expansion and
finance strategy for this $600 million global supply chain management
company that was acquired by a division of CMGI (Nasdaq: CMGI).
O'Connor was also Chairman of The Kiosk Company, the then-leader in
interactive systems and kiosk technology -- acquired by Siemens Nixdorf
(NYSE: SI). Prior, he was CFO of Catalina Marketing Corporation, a $250
million global electronic marketing and software development company
(NYSE: POS).
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[NAYNA Networks LOGO]
Nayna Networks, Inc.
180 Rose Orchard Way
San Jose, CA 95134
Phone (408) 956-8000
Fax (408) 956-8730
Earlier in his career, O'Connor served for nine years at Smithkline
Beecham, PLC (now GlaxoSmithKline, NYSE: GSK) in senior roles including
EVP, CFO and COO, and spent six years in management with Xerox
Corporation (NYSE: XRX). He began his career as a CPA with Ernst &
Young, completed graduate level finance studies at NYU, and received
his MBA from the Rochester Institute of Technology.
About Nayna Networks, Inc.
Nayna Networks, Inc., delivers next generation network solutions. More
information is available at http://www.nayna.com/.
In addition, all shareholders and interested parties are invited to sign into
our private Corporate Guest Book at http://www.CorporateGuestBook.com/?NAYN to
receive timely updates and information on future developments.
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Statements in this release
that are "forward-looking statements" are based on current expectations and
assumptions that are subject to known and unknown risks, uncertainties or other
factors which may cause actual results, performance or achievements of the
Company to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements, such as:
the company's ability to raise capital, form strategic alliances or identify and
close merger or acquisition transactions, entry into markets with vigorous
competition, market acceptance of new or existing products and services,
technological shifts, delays in product development and related product release
schedules, and the effect of general economic and market conditions, any of
which may cause revenues and income to fall short of anticipated levels.
For information regarding other related risks, see the "Risk Factors" section of
Nayna's Form 8-K filed with the SEC on April 8, 2005. The parties undertake no
obligation to revise or update any forward-looking statements for any reason.
All products or services mentioned in this document are trademarks, service
marks, registered trademarks or registered service marks of their respective
owners.
Contact Information
Nayna Networks, Inc.
Jim Connor, 408-956-8000 x831
jim@nayna.com
or
Liviakis Financial Communications Inc.
John Liviakis (Investor Relations), 415-389-4670
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