NEW YORK, May 7, 2004 (PRIMEZONE) -- The Board of Directors of the Chell Group (Pink Sheets:CHEL) announces that it has willingly accepted the resignation of Stephen McDermott effective April 28, 2004. Mr. McDermott held the positions of Chief Executive Officer and Chairman of the Board of Directors. Effective immediately, David Bolink, current Board member, has been appointed Chief Executive Officer.
About Chell Group Corporation
Chell Group Corporation (www.chell.com) is a technology holding company. Chell Group's operating subsidiaries include Logicorp http://www.logicorp.ca, and eTelligent Solutions Inc. http://www.esicanada.com.
Forward-looking statements and comments in this press release are made pursuant to safe harbor provisions of the Securities Exchange Act of 1934. Certain statements, which describe Chell Group Corporation's intentions, expectations or predictions, are forward-looking and are subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include, among other things: the acceptance of Internet based application service providers in the consumer market, the impact of rapid technological and market change, general industry and market conditions and growth rates.
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