SOURCE: Paradise Music & Entertainment, Inc.

August 04, 2008 08:00 ET

Paradise Music & Entertainment, Inc. Announces New Chief Executive Officer and Directors

NEW YORK, NY--(Marketwire - August 4, 2008) - Mr. Richard Rifenburgh, Chairman, announced that on July 23, 2008, the Board of Directors (the "Board") of Paradise Music and Entertainment, Inc. (the "Company") (PINKSHEETS: PDSE) elected three new directors: Mr. Boris Rubizhevsky, Mr. Barry Saxe and Mr. Michael R. Wiechnik.

Mr. Boris Rubizhevsky, who was also elected President and Chief Executive Officer (CEO) as well as a director, has over thirty years of business experience ranging from corporate management and mergers and acquisitions to business development, sales and marketing. He has held several Board of Director positions. Most recently, Mr. Rubizhevsky founded NexGen Security Corporation, a consulting firm specializing in homeland security, biological and environmental products and technologies. In 1992 Mr. Rubizhevsky co-founded Isonics Corporation, a diversified international company with offices in the United States, Germany and Russia and businesses in life science, semiconductor wafer services and homeland security products and biotech applications as well as identifying capital funding sources, including the company's initial public offering and follow-on secondary equity and debt offerings. Prior to Isonics, he was with General Electric in a number of international sales and marketing managerial positions. Mr. Rubizhevsky holds a B.S. degree in engineering from the Stevens Institute of Technology.

Mr. Barry Saxe is a businessman with a 40-year career as an owner and operator of several companies in the electrical, environmental and constructions fields. Mr. Saxe attended Brooklyn College of the University of New York City and University of California at Berkeley.

Mr. Michael R. Wiechnik has spent a career with the State of New Jersey's Department of Corrections including leadership positions from Administrative Analyst to Chief of the Bureau of Correctional Systems.

About Paradise Music & Entertainment, Inc..

Paradise, through its wholly-owned operating subsidiary Environmental Testing Laboratories, Inc., provides a wide range of environmentally-related laboratory testing services. ETL operates profitably in the nationwide $1.8 billion a year, environmental testing industry. Expanding ETL's environmental testing business is a focal point for ETL.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that these forward-looking statements involve uncertainties and risks that could cause actual performance and results of operations to differ materially from those anticipated. These risks and uncertainties include issues related to the ability to: obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new ventures, as well as other factors set forth in Paradise's most recently filed Form 10-K and Form 10-Q reports. The forward-looking statements contained herein represent the Company's judgment as of the date of this release and it cautions readers not to place undue reliance on such statements. Paradise assumes no obligation to update the statements contained in this release.

Contact Information

  • Contact:
    Mr. Richard P. Rifenburgh
    Chairman
    Paradise Music & Entertainment, Inc.
    Ph: 888-565-3259