BELLEVUE, Wash., Dec. 15, 2004 (PRIMEZONE) -- Timeline, Inc. (OTCBB:TMLN) -- Frederick W. Dean, a director of Timeline, Inc. since April 1998, will be leaving the company's Board of Directors and terminating his position as an officer of the company effective December 15, 2004 in conjunction with accepting a position with a reseller of Timeline products.
"It is with mixed emotions that we accept Fred's resignation," said Charles R. Osenbaugh, President and CEO. "Fred has been a vital part of Timeline for over 20 years. He has provided great service to Timeline's employees, customers and shareholders, both as an executive and as a member of the Board of Directors. While we will miss his commitment and valued perspective, we wish him well in his new ventures.
"Since he is joining the management team of a reseller of Timeline software, we are excited about his new opportunities and welcome the fact his efforts will continue to benefit Timeline. Nevertheless, since he will be doing business with Timeline, rather than for Timeline, we reached a mutual decision that the potential for conflicts of interest dictate that he resign from the Timeline Board of Directors. We thank him for his service and look forward to working with Fred in his new position," Osenbaugh added.
The Board of Directors will begin a process to fill Mr. Dean's position. Until a new director is appointed, the company's Board will consist of four directors, two of which are independent and have financial expertise.
About Timeline
Timeline develops, markets and supports proven, Microsoft Windows-based financial management reporting software suitable for complex applications such as those found in medium to large, multinational corporations. Timeline Analyst was developed for Windows and Office and takes full advantage of Microsoft's latest operating systems and Version 2.9 allows for the deployment of target analytical data marts on Oracle 8 or 9i and IBM's DB2 Universal Data Bases Versions 7 & 8 as well as Microsoft SQL Server. The Analyst Suite of products allows target data marts on which Timeline's reporting, budgeting and consolidation applications reside to be built on all of these three of the most popular computing platforms. Timeline can be reached at 800-342-3365 or on the web at www.timeline.com. WorkWise Software, Inc., a subsidiary of Timeline, is the leading provider of event-based notifications, application integration and process automation systems to the mid-market. The WorkWise solutions are exclusively available through authorized OEM and Reseller Business Partners. For more information on WorkWise Software, Inc., visit its website at www.workwise.com. Analyst Financials Ltd., a London-based subsidiary of Timeline, markets, licenses and provides consulting for Timeline Analyst products in Europe and Africa.
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