John A. Lack Appointed I3 Mobile President and CEO Stephen G. Maloney Promoted to Chairman and Chief Strategist
i3 Mobile, Inc. (Nasdaq: IIIM), a leading provider of innovative wireless media solutions, from personalized, localized information to m-commerce and advertising services, today announced that John A. Lack, age 56, has been appointed as i3 Mobile's President and Chief Executive Officer and a Director of the Company. Stephen G. Maloney, age 43, i3 Mobile's co-founder, has become the Company's Chief Strategist and Chairman of the Board.
"From the beginning, i3 Mobile has been committed to developing both innovative products that consumers want and the distribution network necessary to reach this broad and rapidly-growing wireless audience," said Mr. Maloney. "John's extensive experience in developing creative, compelling, content-based products for new media provides a tremendous boost to our product development efforts. As mobile communications continue to grow at an explosive pace, the potential for our Company is more exciting than ever. John's entire career demonstrates that he has the innovative thinking, industry expertise, and leadership qualities necessary to move i3 Mobile to its next stage of development."
In his 30 years in the communications and entertainment industries, Mr. Lack is best known as a creator of MTV, the broadcast vehicle that has become an integral part of global culture. As the Chief Operating Officer of Warner-Amex Satellite Entertainment Co., Mr. Lack developed The Movie Channel, cable television's first 24-hour entertainment network, and Nickelodeon, the award-winning children's channel. Mr. Lack also served as ESPN's Executive Vice President of Marketing and Programming, where his responsibilities included advertising and affiliate sales, consumer and on-air marketing, programming and research, and the launch of ESPN-2, the contemporary sports network now in 45 million households. Additionally, Mr. Lack served as Chief Operating Officer and a Director of STREAM, Telecom Italia's digital content and pay television company. Mr. Lack began his career at CBS, where over the course of nine years he held a variety of sales and marketing positions, including two posts at the level of Vice President and General Manager.
Mr. Lack is a graduate of Boston University, and earned a Masters degree in Broadcast Journalism from the Medill School at Northwestern University.
"By delivering customizable content and services to mobile phones, palmtops, pagers and other wireless devices, i3 Mobile is a leader in a rapidly developing market that capitalizes on all the emerging synergies of content, mobility and the Internet," Mr. Lack said. "With more than 25 distribution partners representing over 60 million wireless users, the Company is strongly positioned for an important role in an industry with tremendous growth potential. I look forward to working closely with Stephen and the entire i3 Mobile management team to ensure that we make the most of all the opportunities available to the Company in this exciting environment."
About i3 Mobile, Inc.
i3 Mobile is a leading provider of wireless media solutions that enable wireless network operators, Web sites and enterprises to extend personalized, location-based information, m-commerce and wireless advertising services to their customers. As of the end of third quarter of 2000, i3 Mobile had more than 1.1 million users receiving personalized information on mobile phones, pagers, PDAs and other wireless devices. i3 Mobile's services are available to more than 59 percent of the North American market of wireless phone users through relationships with more than 25 leading wireless network operators and new media distributors, including AT&T Wireless Services, Bell Mobility, Qwest Wireless, Rogers AT&T Wireless and U. S. Cellular. i3 Mobile is included in Upside magazine's "e-business 150" for 2000. For more information, please visit www.i3mobile.com.
i3 Mobile Safe Harbor Disclaimer
This news release may be deemed to include forward-looking statements as defined by applicable U.S. law and, as a result, may involve risks, uncertainties and assumptions that could cause actual results to differ materially from those in such forward-looking statements. The words "believe," "expect," "intend," "anticipate," variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. Potential risks and uncertainties include, but are not limited to, those related to the overall market acceptance of i3 Mobile's products and services; uncertainties related to i3 Mobile's reliance on a small number of wireless network operators for a significant portion of its revenues, i3 Mobile's dependence on the distribution of its products by third parties, and competition from companies with substantially greater financial, technical, marketing and distribution resources. Further information regarding these and other risks are included in i3 Mobile's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. i3 Mobile undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.
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