Cellstar (NASDAQ:CLSTE)
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CellStar Announces Resignation of John T. Kamm From Board of
Directors
CARROLLTON, Texas, May 31 /PRNewswire-FirstCall/ -- CellStar (NASDAQ:CLSTE), a
value-added wireless logistics services leader, today announced that due to
personal reasons, Mr. John T. Kamm has resigned from the Company's Board of
Directors. Mr. Kamm was named as a Class III Director in December of 2003.
"John's extensive knowledge of the market and the culture in China has been a
great asset to the Company, particularly over the last several months during
our review of the operations in China, and he will be missed," said Robert A.
Kaiser, Chairman and CEO. "John does very important work promoting human
rights through the Dui Hua Foundation. He believes that is where his focus
should be for the time being, and accordingly has made the difficult decision
of resigning from the CellStar Board. We wish John the very best and thank him
for his dedication and leadership."
Mr. Kamm has worked in China for more than 30 years. Mr. Kamm serves as the
Executive Director of the Dui Hua Foundation, a publicly supported organization
dedicated to improving human rights in the United States and China, and
Director of the Project in Human Rights Diplomacy of the Institute of
International Studies of Stanford University. He is currently the President of
Asia Pacific Resources, Inc., a San Francisco-based company he founded in 1993,
which specialized in trade and investment, government affairs and U.S.-China
relations. Mr. Kamm is also Chairman of Market Access Ltd., a Hong Kong-based
consulting firm which he founded, an honorary professor of two Chinese
universities, a Director of the National Committee on US-China Relations, and a
member of the Advisory Council of Princeton-in-Asia. Mr. Kamm has been active
in China trade for many years, including serving as Vice President, Far East of
Occidental Chemical Corporation from 1981 to 1991. Mr. Kamm also served as
President of the American Chamber of Commerce in Hong Kong in 1990.
About CellStar Corporation
CellStar Corporation is a leading global provider of value-added logistics
services to the wireless communications industry, with operations primarily in
the North American, Latin American and Asia-Pacific regions. CellStar
facilitates the effective and efficient distribution of handsets, related
accessories and other wireless products from leading manufacturers to network
operators, agents, resellers, dealers and retailers. CellStar also provides
activation services in some of its markets that generate new subscribers for
wireless carriers. Additional information about CellStar may be found on its
Web site at http://www.cellstar.com/ .
This news release contains forward-looking statements, as defined in the
Private Securities Litigation Reform Act of 1995. A variety of risk factors,
including the Company's ability to implement its business strategies, to
maintain its channels of distribution, continue to secure an adequate supply of
competitive products on a timely basis and on commercially reasonable terms,
improve its operating margins, secure adequate financial resources, maintain an
adequate system of internal control, comply with debt covenants, and
continually turn its inventories and accounts receivable, as well as changes in
foreign laws, regulations and tariffs, new technologies, system implementation
difficulties, competition, handset shortages or overages, terrorist acts, a
decline in consumer confidence and continued economic weakness in the U.S. and
other countries in which the Company does business and other risk factors, are
discussed in the Company's Annual Report on Form 10-K and most recent Quarterly
Report on Form 10-Q. Any one, or a combination of these risk factors could
cause CellStar's actual results to vary materially from anticipated results or
other expectations expressed in the Company's forward-looking statements.
DATASOURCE: CellStar Corporation
CONTACT: Sherrian Gunn of CellStar Corporation, +1-972-466-5031, or
Web site: http://www.cellstar.com/