FREMONT, Calif., Dec. 1, 2004 (PRIMEZONE) -- Titan General Holdings, Inc. (OTCBB:TTGH) ("Titan" or "Company") is proud to announce that Curtis K. Okumura was appointed President of the Company, effective as of December 16, 2004. Mr. Curtis, who is 41 years old, has served as General Manager of the Company's subsidiary, Titan PCB West since August 2001. From 2000 to 2001, Mr. Okumura served as General Manager of Circuit Link, Inc., a printed circuit board manufacturer. From 1985 to 2000, Mr. Okumura served in various capacities, including as an engineering manager for Data Circuit Systems, Inc. Mr. Okumura has an education in Business Administration from San Jose State University and Ohlone College.
On November 30, 2004, the Company realigned its management team. The Company accepted the resignation of Kenneth L. Shirley as President and Chief Executive Officer, effective as of December 16, 2004. Mr. Shirley will remain a member of the Company's Board of Directors. On November 30, 2004, the Company formed a new strategic committee to investigate and evaluate candidates to whom the Company can be sold or merged. Mr. Shirley was appointed as Chairman of this committee.
TTGH Director Kenneth L. Shirley stated: "Titan has made enormous strides in the last year since I joined it. I am confident that I am passing care of its operations to a capable leader in Curtis Okumura. At this point I feel I can be of the greatest help to Titan's shareholders by helping the Company pursue a strategic merger or sale of its businesses. This realignment will allow me to focus on this effort." Titan President Curtis Okumura stated: "I am gratified by Ken's support and that of our Board of Directors. I plan to focus my effort on continued improvements at Titan PCB East, Inc."
About Ventures National Inc. dba Titan General Holdings Inc. ("TTGH")
Www.titanems.com is a printed circuit board manufacturer providing time sensitive, superior quality products to the electronics industry at a competitive price. The Company offers high layer count, fine line production of rigid, rigid flex and flex PCBs. Titan targets quick turn and standard delivery needs of prototype and pre-production boards with numerous types of standard and advanced materials. Titan combines the strengths of superior design, high quality and outstanding customer service with an extremely favorable cost structure. This competitive advantage provides opportunities to Titan that are currently unmet by other PCB manufacturers.
Safe Harbor Statement Under the Private Securities Litigation Act of 1995 - With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of either TEQI or CG could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.