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Exhibit 99.1
INVESTOR CONTACT:
Cindy Wyrick
VP, Investor Relations
SoftNet Systems, Inc.
415-343-2325
[email protected]
MEDIA CONTACT:
Gloria Parrish
Director, Corporate Communications
SoftNet Systems, Inc.
415-365-2514
[email protected]
SOFTNET NAMES GARRETT J. GIRVAN CHIEF EXECUTIVE OFFICER;
BRILLIANT TO REMAIN AS CHAIRMAN OF THE BOARD
SAN FRANCISCO, CALIFORNIA, DECEMBER 5, 2000 - SoftNet Systems, Inc.
(Nasdaq: SOFN) today announced that Garrett J. Girvan has been appointed chief
executive officer of the broadband services company. Dr. Lawrence B. Brilliant,
who has served as SoftNet's CEO since April 1998, will step down due to health
concerns. Brilliant will remain as the chairman of the board of directors for
SoftNet - overseeing the strategic direction for the company - a role he has
held since April 1999.
Garrett Girvan, who will also continue to serve as president of
Aerzone, accepts the appointment of CEO after nearly three years with SoftNet,
during which time he held the position of SoftNet's chief operating officer.
Prior to joining SoftNet, Girvan held various positions at Viacom Cable over a
13-year period, including chief financial officer and chief operating officer.
While at Viacom, Girvan was involved in the development of Viacom's broadband
services.
"It is with great honor that I accept the position of SoftNet's CEO,
and with much admiration and appreciation for Larry's leadership and commitment
to the company to this point," said Garrett Girvan, SoftNet's chief executive
officer.
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"I join everyone here in wishing Larry well and thanking him for his
many years of commitment, passion, and dedication to the company. We look
forward to tapping into Larry's wealth of vision with his continued role as
SoftNet's chairman."
ABOUT SOFTNET SYSTEMS, INC.
SoftNet is a leading global broadband Internet services company.
AERZONE operates wireless broadband local area networks (Aerzone
Wireless(TM)) and business centers (Aerzone Business Centers(TM)) in locations
frequented by business professionals, such as major airports, convention centers
and hotels. Aerzone is majority-owned by SoftNet Systems. Aerzone has long term
agreements with United Airlines and Delta Air Lines, each of which earn equity
in Aerzone through customer acquisition and service launches. Cisco and Nokia
are Aerzone's preferred wireless technology vendors providing expertise and
wireless technology to the venture.
SoftNet's wholly-owned INTELLICOM subsidiary combines Internet services
with sophisticated two-way satellite technology to deliver a turnkey solution
for ISPs, schools, corporations and businesses. SoftNet is also known for its
wholly-owned ISP CHANNEL. ISP Channel currently services thousands of cable
customers nationwide with two-way broadband data services.
For further information about SoftNet Systems, Inc. and its
subsidiaries, please visit www.softnet.com or call 415-365-2500.
# # #
This press release contains forward-looking statements concerning SoftNet
Systems' anticipated future operating results, future revenues and earnings or
adequacy of future cash flow. (These forward-looking statements include, but are
not limited to, statements containing the words "expect", "believe", "will",
"may", "should", "project", "estimate" and like expressions, and the negative
thereof.) These statements are subject to risks and uncertainties that could
cause actual results to differ materially from the statements, including the
risks attendant to a growing business in a new industry as well as those risks
described in SoftNet Systems' Quarterly or Annual Report.
