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Digital Angel Corporation Names Barry M. Edelstein to Board of
Directors
Addition of Former Comcast Corporation Executive Increases Outside Directors to
Four
SO. ST. PAUL, Minn., July 5 /PRNewswire-FirstCall/ -- Digital Angel
Corporation (AMEX:DOC), an advanced technology company in the field of rapid
and accurate identification, location tracking, and condition monitoring of
high-value assets, announced today it has named Barry M. Edelstein, a senior
telecommunications executive and an attorney, to its Board of Directors,
effective immediately. The appointment of Edelstein increases the total number
of independent, outside directors to four and expands the board to seven
members.
Edelstein, 42 years old, a resident of Bryn Mawr, PA, worked for
Philadelphia-based Comcast Corporation in various executive capacities from
1997-2002 after Comcast purchased Bala Cynwyd, PA-based GlobalCom
Telecommunications Inc., which he co-founded.
"Barry has a track record of building and leading established as well as
emerging businesses and has the kind of expertise that will make him a valuable
addition to our board," said Digital Angel Chief Executive Officer Kevin N.
McGrath. "His diverse business background also includes leading national sales
teams and developing comprehensive strategic, operational and financial plans
of the scope we are developing at Digital Angel. He has also worked on
marketing and branding strategies and we believe his counsel and leadership
will be invaluable to Digital Angel as we grow nationally and internationally
in the coming months."
From 2000-2002, Edelstein was Vice President, Sales and Sales Operations for
Comcast Business Communications Inc. where he managed the integration of
Comcast Telecommunications Inc. with two other subsidiaries and led a team that
oversaw the sales, marketing, customer care, billing operations and supplier
management function of the company.
From 1997-2000 he was Vice President, Sales and Marketing for Comcast
Telecommunications Inc., a provider of long distance, internet and private
network services in the mid-Atlantic region of the U.S. From 1992-1997 he was
President and Founding Principal of GlobalCom Telecommunications, a regional
reseller of long distance, private network and internet services which was sold
to Comcast in June 1997. Prior to that he was an associate at Rubin, Shapiro &
Wiese, a Philadelphia law firm specializing in real estate and corporate
commercial litigation.
Edelstein has a bachelor's degree in business administration from Drexel
University and received his law degree from Delaware Law School of Widner
University, Delaware.
About Digital Angel Corporation
Digital Angel Corporation develops and deploys sensor and communications
technologies that enable rapid and accurate identification, location tracking,
and condition monitoring of high-value assets. Applications for the Company's
products include identification and monitoring of pets, humans, fish and
livestock through its patented implantable microchips; location tracking and
message monitoring of vehicles and aircraft in remote locations through systems
that integrate GPS and geosynchronous satellite communications; and monitoring
of asset conditions such as temperature and movement, through advanced
miniature sensors.
Digital Angel Corporation is majority-owned by Applied Digital Inc.
(NASDAQ:ADSX). For more information about Digital Angel, please visit
http://www.digitalangelcorp.com/.
The statements in this press release that are not strictly historical, are
"forward-looking" statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934
and are intended to be covered by the safe harbors created by these sections.
The forward-looking statements are subject to risks and uncertainties and the
actual results that the Company achieves may differ materially from these
forward-looking statements due to such risks and uncertainties, including, but
not limited to, that the Company's majority stockholder, Applied Digital Inc.
owns 55.2% of the Company's common stock; that new accounting pronouncements
may impact the Company's future results of operation; that the Company may
continue to incur losses, that infringements by third parties on the Company's
intellectual property or development of substantially equivalent proprietary
technology by the Company's competitors could negatively affect the Company's
business; that domestic and foreign government regulation and other factors
could impair the Company's ability to develop and sell the Company's products
in certain markets; that the Company relies on sales to government contractors
of its animal identification products, and any decline in the demand by these
customers for the Company's products could negatively affect the Company's
business; that the Company depends on a single production arrangement for its
patented syringe-injectable microchips; that the Company depends on principal
customers; that the Company competes with other companies and the products sold
by the Company's competitors could become more popular than the Company's
products or render the Company's products as obsolete; that the Company's
earnings will decline if the Company must write-off goodwill and other
intangible assets; that the exercise of options and warrants outstanding and
available for issuance may adversely affect the market price of the Company's
common stock ;that currency exchange rate fluctuations could have an adverse
effect on the Company's sales and financial results; and that the Company
depends on a small team of senior management and the Company may have
difficulty attracting and retaining additional personnel. A detailed statement
of risks and uncertainties is contained in the Company's reports to the
Securities and Exchange Commission, including in particular the Company's Form
10-K for the fiscal year ended December 31, 2004. Investors and stockholders
are urged to read this document carefully. The Company can offer no assurances
that any projections, assumptions or forecasts made or discussed in this
release will be met, and investors should understand the risks of investing
solely due to such projections. The Company undertakes no obligation to revise
any forward-looking statements in order to reflect events or circumstances that
may arise after the date of this press release.
Contact: Allen & Caron Inc.
Michael Lucarelli (investors) Brian Kennedy (media)
212-691-8087 212-691-8087
DATASOURCE: Digital Angel Corporation
CONTACT: investors, Michael Lucarelli, +1-212-691-8087,
, or media, Brian Kennedy, +1-212-691-8087,
, both of Allen & Caron Inc., for Digital Angel
Corporation
Web site: http://www.digitalangelcorp.com/