Directorate Change

21 May 2007 07:02

Phorm Inc21 May 2007 Embargoed for release until 7a.m. 21/05/07 Directorate Change Phorm, Inc ("Phorm" or the "Company") Further to the Company's previous announcement on 8th March 2007, the Company(AIM: PHRM and PHRX) is pleased to announce today that David Dorman, ChristopherLawrence and Virasb Vahidi have joined the Board of Phorm, Inc. David Dorman has been an advisor to the Company since July 2006. He is currentlysenior advisor and partner at global private equity firm Warburg Pincus and waspreviously chairman and chief executive officer of AT&T Corp. Before that, hewas CEO of Concert, the global venture created by AT&T and BritishTelecommunications. Mr Dorman serves on the Boards of Motorola, Inc., CVSCorporation, Firethorn Mobile, LLC, and YUM! Brands, Inc. Christopher Lawrence is currently vice chairman of Rothschild, Inc. Prior tojoining Rothschild in 2005, Mr Lawrence was chief strategic officer of CreditSuisse Group as well as a vice chairman of Credit Suisse First Boston. He beganhis investment banking career at Salomon Brothers in 1981. Virasb Vahidi, who is Phorm's chief operating officer, is an internationalbusiness executive with a distinguished career encompassing senior finance,strategy and planning roles in global companies including AT&T Corp. andAmerican Airlines, Inc. Mr Vahidi was most recently senior vice president ofcorporate strategy and development at AT&T, where he was the financial architectof the AT&T Corp/SBC Communications, Inc. merger and co-leader of theintegration team. As also notified on 8th March, David Svendsen, chairman, and Dave Gwozdz havestepped down from the Board of the Company. Dave Gwozdz will remain as US seniorvice president, Business Development and Sales for Phorm. Commenting on the new Board directors, Kent Ertugrul, chairman and CEO of Phorm,said: "We are delighted to welcome Dave, Chris and Virasb to the Board. Theyeach bring complementary skills and experience of an exceptional calibre. Theirwealth of expertise and knowledge will be invaluable as we continue to developour business." "We are grateful to David Svendsen and Dave Gwozdz for their contribution to theBoard and wish them well in the future." Save as set out in the Appendix, there are no further details in relation to theabove appointments which require disclosure under paragraph (g) of Schedule 2 tothe AIM Rules. Ends For EnquiriesPhorm, Inc. +44 870 405 7722Kent Ertugrul (Chairman & Chief Executive) Edelman Financial PR +44 20 7344 1325Paul Lockstone +44 7876 685200 Canaccord Adams Limited +44 20 7050 6500Nominated AdviserMark WilliamsAndrew Chubb Notes to editors Phorm, Inc. was formerly known as 121Media Inc. Appendix Information provided in accordance with paragraph g of Schedule 2 to the AIMrules: (i) the director's full name and age together with any previous names; David Wyatt Dorman, Age 53, None (ii) the names of all companies and partnerships of which the director has beena director or partner at any time in the previous five years, indicating whetheror not the director is still a director or partner; Name of Company Period of DirectorshipAT&T 2002-2006CVS 2006-PresentFirethorn Mobile, LLC 2006-PresentMotorola 2006-PresentSABRE 1999-2002SAIC 1998-2002Scientific Atlanta 1998-2006Yum! Brands 2005-Present (i) the director's full name and age together with any previous names; Christopher Rueckert Lawrence, Age 53, None (ii) the names of all companies and partnerships of which the director has beena director or partner at any time in the previous five years, indicating whetheror not the director is still a director or partner; Name of Company Period of Directorship:120 East End Avenue 1997 (approximately)-Present (i) the director's full name and age together with any previous names; Virasb Vahidi, Age 40, None (ii) the names of all companies and partnerships of which the director has beena director or partner at any time in the previous five years, indicating whetheror not the director is still a director or partner; None This information is provided by RNS The company news service from the London Stock Exchange