ALISO VIEJO, Calif., March 16, 2004 (PRIMEZONE) -- Raptor Network Technology, Inc. (OTCBB:RPTN) a provider of unique patent pending switching technology, announces the appointment of Mr. Tom Wittenschlaeger as its new Chief Executive Officer.
Mr. Lyle Pearson resigned from his position as President, CEO and member of the Board of Directors, for personal reasons, effective March 12, 2004.
Mr. Wittenschlaeger is a seasoned technology executive who specializes in business performance improvement, resolving underperforming or undervalued businesses and unwinding complex, multi-dimensional challenges in a pragmatic, value-enhancing manner generally involving position enhancement in the marketplace as well as the application of affordable, high leverage technology solutions. Prior to joining Raptor, Mr. Wittenschlaeger accumulated 22 years of experience in the high technology products and services sector including positions with General Motors, Hughes Electronics, Honeywell and Viasat, Inc. He has led business units ranging in size from $3M to $500M in annual revenue.
Mr. Wittenschlaeger is a 1979 graduate of the US Naval Academy, with a bachelor of science degree in electrical engineering, and postgraduate work in nuclear engineering. In addition he is a graduate of the UCLA Executive Program in Business and co-founder of the school's Executive Program in Marketing. His awards include the inaugural Malcolm R. Currie Innovation award, the Buckley School Silver Medal and numerous military decorations. He lectures in the business schools of UCLA, University of Indiana, and the University of Mainz in Germany.
About Raptor Networks Technology
Raptor Networks Technology, Inc. provides unique patent pending switching technologies that are modular and can benefit any network that incorporates newer applications such as video, VOIP, storage networks and other high-bandwidth network applications. This cost-effective "Distributed Network Switching Technology" enables upgrading of networks with switches to provide more advanced management of these new applications. Raptor products provide increased speed, greater capacity plus cost-effective implementation over existing switching and routing technologies. Management believes that the unique advantage Raptor achieves is data transport at wire speed (the maximum speed at which the equipment is built to operate). This is the highest density 10 Gigabit wire speed offering currently on the market, with the versatility to run the most advanced new data applications at the most cost-effective price. Raptor has recently applied for nine utility patents on design layout of Raptor switches and anticipates filing for sixteen additional patents.
For additional information please see, www.raptor-networks.com.
Safe Harbor Statement
The statements in this release relating to future product availability and positive direction are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Some or all of the aspects anticipated by these forward-looking statements may not, in fact, occur. Factors that could cause or contribute to such differences include, but are not limited to, contractual difficulties, the future market price of RPTN common stock and the Company's ability to obtain necessary future financing.