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ImproveNet Announces New Chairman of the Board
SCOTTSDALE, Ariz. (February 9, 2005) – ImproveNet,
Inc. (OTC Bulletin Board: IMPV), the leading home improvement network
of choice for consumers, home improvement service providers and manufacturers,
announced today that it has appointed Alok Mohan as Chairman of the company's
Board of Directors. Mr. Mohan has served as a member of ImproveNet’s
Board since January 2004 and replaces Co-Chairmen Jeffrey Rassás,
Homayoon Farsi and Naser Ahmad who will remain as members of the ImproveNet
Board of Directors.
"I’m excited to expand my role on the ImproveNet Board as Chairman.
My decision to serve the company in this way is based upon my belief
that it is optimally poised for growth within this rapidly expanding
online home improvement industry," stated Mr. Mohan.
Alok Mohan’s expanded role comes in part due to the company’s
recent implementation of its new strategic plan to expand the focus of
the core business by advancing its home improvement online services.
Mr. Mohan’s experience and leadership is expected to bolster ImproveNet’s
development and transformational strategy as a leader in the online home
improvement industry.
Mr. Mohan currently serves as Chairman of the Board of Tarantella, Inc. (TTLA),
a leading provider of secure access software, and as Chairman of the Board at
Rainmaker Systems, Inc. (RMKR), a leading outsource provider of sales and marketing
programs for service contracts. Mr. Mohan is also a Venture partner with Blue
Chip Venture Company. Mr. Mohan has also served as Vice President and General
Manager of the Workstation Products Division with NCR Corporation and as President
and Chief Executive Officer of Santa Cruz Operations, Inc. (SCO).
Mr. Mohan earned a Bachelor of Science degree in Mechanical Engineering from
the Indian Institute of Technology, Kharagpur, in 1969, and later a Master of
Business Administration degree from Indiana University in 1972.
About ImproveNet
ImproveNet, Inc. is the home improvement
network of choice for customers, home improvement service providers and
manufacturers, offering the most
reliable referral-matching service and comprehensive solutions anywhere.
The ImproveNet® TrueMatch™ platform automatically connects
homeowners to screened contractors, architects, designers and builders
available in their area. Through ImproveNet’s website and 1-800-Contractor,
ImproveNet has been connecting homeowners to screened and system-rated
contractors for over eight years. ImproveNet.com offers thousands of
pages filled with management tools, product showcases, visualizers, expert
advice, and active message boards, providing its customers and associates
with instant access to the nearly $500B home improvement marketplace.
The ImproveNet AdServePRO™ service delivers the latest industry
news on product and services. ImproveNet has an expanded network of industry-leading
partners and professional associates. For further information, contact
ImproveNet, Inc. toll free at (888) 777-2212 or visit www.ImproveNet.com.
" Safe Harbor" statement under the Private Securities Litigation
Reform Act of 1995: Certain statements in this press release constitute "forward-looking" statements
that involve a number of known and unknown risks, uncertainties and other
factors which may cause our actual results, performance or achievements
to be materially different from any results, performances or achievements
express or implied by such forward-looking statements. These risks and
uncertainties include, but are not limited to, the statements made regarding
ImproveNet as the home improvement network of choice, any expected or anticipated
growth in ImproveNet’s business and Alok Mohan’s effect on
such, demand for the ImproveNet’s products and services, competitiveness
in the marketplace of its product and services offerings, the effectiveness
of management’s strategy, and other risks detailed in the Company's
Securities and Exchange Commission filings on Form 10-KSB and Form 10-QSB.
Undue reference should not be placed on these forward-looking statements,
which speak only as of the date hereof. We undertake no obligation to update
any forward-looking statements.
For Further Information, Contact:
Erica Schramm
Tel: (480) 346-2073
Mobile: (480) 748-8239
erica.schramm@improvenet.com
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