PALM BEACH, Fla. and HIGHTSTOWN, N.J., Nov. 11, 2003 (PRIMEZONE) -- WindsorTech, Inc, (OTCBB:WSRT) a Data Security and Environmental Compliance service company, announced the appointment of Seth A. Grossman, to its Board of Directors, effective November 1, 2003. Mr. Grossman, currently serves as Executive Vice President and Chief Strategic Officer for Paxson Communications (AMEX:PAX) which owns and operates the nation's largest broadcast television distribution system and the PAX TV television network. Mr. Grossman will sit on the Compensation and Audit Committees of the Board of Directors for WindsorTech.
Marc Sherman, CEO and President of WindsorTech, commented on the appointment of Mr. Grossman: "We are very pleased to have Seth join our Board of Directors. He has an extremely broad base of business knowledge and experience encompassing areas of Corporate Development and Strategic Planning, Corporate Finance, Investor Relations, Business Valuation, and Mergers and Acquisitions. As he brings significant experience in so many of the disciplines key to our success, we intend to leverage Seth's background with our already strong management team in the execution of our business plan."
"WindsorTech's business model presents a tremendous growth opportunity," said Grossman. "Their products and services address today's sweet spot of both corporate IT needs for data security and EPA compliance as well as consumers' needs for identity and personal information security. I am looking forward to serving as a Director in order to capitalize on the potential of the company's essential IT products, services and strong, experienced management team."
Mr. Grossman joined Paxson Communications in 1995 as its Director of Finance, before assuming additional responsibilities as SVP of Investor Relations and Corporate Development and then Chief Financial Officer. Prior to his tenure at Paxson, Mr. Grossman was a Senior Associate with Houlihan, Lokey, Howard & Zukin, a specialty investment bank in New York where he concentrated on corporate finance, valuation advisory and restructuring. Mr. Grossman was also a partner with McFerren Holding Co., a Central and Eastern European privatization consulting firm. Mr. Grossman holds a BBA with distinction from the University of Michigan and an MBA from the Harvard Graduate School of Business Administration. He currently sits on the Board of the Enterprise Development Corporation of South Florida, a not-for-profit technology enterprise development concern.
About WindsorTech, Inc.
WindsorTech, Inc. is a Data Security and Environmental Compliance Service company offering data security/erasure, environmental compliance, IT asset management consulting, and remarketing services to corporate, public and academic customers. The company is a Specialized Charter Member of IAITAM (International Association of IT asset Managers) and holds a seat on their panel of Expert Speakers. For more information, visit our website at www.windsortechinc.com.
Statements about WTI's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. WTI intends that such forward-looking statements involve risks and uncertainties and are subject to change at any time, and WTI's actual results could differ materially from expected results. WTI undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.