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USTelematics Announces Appointment of
Ex-Motorola, GE, IBM, Wasserstein Executive George Lauro to Spearhead Strategic
Alliances and Capital Structuring
CHICAGO--(BUSINESS WIRE)--June 25, 2008--USTelematics, Inc. (OTC:UTLM), at the forefront of the
connected-car revolution, today announces that George Lauro joins the Company as
Senior Advisor to the Board of Directors. Mr. Lauro's history includes positions
as a former Rapid Commercialization Manager of IBM (NYSE:IBM); Investment Banker
with Wasserstein Perella, Needham and CE Unterberg; Director of New Business
Development for Motorola (NYSE:MOT); and Aerospace Group Marketing Manager for
General Electric (NYSE:GE).
USTelematics' CEO Howard Leventhal said, "We are thrilled that George Lauro has
visualized the future of our company and seen fit to help guide us to it.
George's experiences in crafting profitable partnerships between symbiotic
companies and extensive network of contacts within successful technology firms,
particularly in Silicon Valley, should substantially brighten our future.
Chicago is a great place and we love it because our families are here; but it
lacks the cross-breeding 'fertilizer' effect that energizes so many Northern
California tech company success stories. We fully expect that George will help
us compensate for this and strengthen a number of other important areas within
USTelematics. George is literally, a rocket scientist, and you can never have
too many of those. Among his other experiences, he was a Staff Scientist at the
MIT Draper Lab, where he designed inertial guidance systems for spacecraft and
missiles."
Mr. Lauro graduated from Brown University in 1981, BSEE; attended MIT for
graduate studies in digital control and aeronautics and made the Wharton
Director List with an MBA in 1986. According to his resume, George conceived
Motorola's Traxar product, the first handheld GPS navigator. Also at Motorola,
Mr Lauro was Director of New Business Development for that company's RFID
Products Group and launched Motorola's entry into RFID products, where it
retains a leading position.
In his responsibilities as advisor to other boards of directors, Mr. Lauro has
led the investment process including deal sourcing, term sheet negotiation,
syndication, diligence, post-transaction company building and exit negotiation.
He raised follow-on financing for several Wasserstein companies; served on the
boards of 15 companies and was member of several Compensation, Search and Budget
Committees. He has had a lead role in CEO/VP/board search projects, business
restructuring and strategy projects and led the M&A process for selling
portfolio companies.
About USTelematics
USTelematics, Inc. (“USTelematics” or the “Company”) is engaged in the
development and commercialization of next-generation, proprietary technologies
to revolutionize the “wired car,” delivering high speed data and entertainment
content to private and commercial vehicles. The Company is addressing
high-growth opportunities in the projected $54 billion global telematics
marketplace with proprietary technologies that enable a full range of
voice-driven handheld and automotive mobile communications, full internet
connectivity and rich infotainment options. With products that provide a full
range of next-generation rear seat infotainment, USTelematics is offering an
advance over the old DVD-only systems that still represent the current standard
in the rear seat entertainment industry.
To learn more, please visit
http://www.USTelematics.com
Forward-Looking Statements
The information herein contains forward-looking statements. All statements other
than statements of historical fact made in report are forward-looking. In
particular, the statements herein regarding industry prospects and future
results of operations or financial position are forward-looking statements.
These forward-looking statements can be identified by the use of words such as
"believes," "estimates," "could," "possibly," "probably," anticipates,"
"projects," "expects," "may," "will," or "should" or other variations or similar
words. No assurances can be given that the future results anticipated by the
forward-looking statements will be achieved. Forward-looking statements reflect
management's current expectations and are inherently uncertain. Our actual
results may differ significantly from management's expectations.
CONTACT: USTelematics
Howard Leventhal, 630-595-0049
howard@ustelematics.com
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