SOURCE: Caneum, Inc.

November 09, 2006 07:30 ET

Caneum, Inc. Announces the Appointment of 5 New Members to Its Corporate Board of Advisors

Information Technology and Business Process Outsourcing Company Further Expands Corporate Development Bench to Accelerate Its Next Phase of Growth

NEWPORT BEACH, CA -- (MARKET WIRE) -- November 9, 2006 -- Caneum, Inc. (OTCBB: CANM), a global provider of business process and information technology outsourcing services, today announced that it has added five new members to its corporate advisory board. These new members include Romir Bosu, CEO of Compushare, Inc., Paul McNulty, CEO of Paul D. McNulty & Associates, David Oppenheimer, Chief Scientist of PassAlong Networks, Inc., Andrew Quinterro, Director for the Office of Intellectual Property Management of The Aerospace Corporation, and Jack Wells, Vice President of Financial Compliance-IT Controls for Warner Bros. Entertainment, Inc.

"We are very excited to have added such a talented and diverse slate of new advisors to the Caneum Advisory Board," stated Roger Goulette, Chairman of the Company's Board of Advisors. "The members of the Advisory Board individually possess unique business and technical acumen, and collectively they bring vast experience in founding and building growth companies. Additionally, their business base includes large and small companies and organizations across both the public and private sectors alike. We expect Caneum to continue its strong historical growth, and as such, we expect that these Advisory Board additions will greatly advance new business and corporate development initiatives. We also expect an increase in sales growth activities tied to new and existing customers, including: the recently announced five year contract with Los Angeles Unified School District (LAUSD); and the ten year contract with the United States Government General Services Administration (GSA) associated with the Veterans Technology Services (VETS) Government Wide Acquisition Contract (GWAC)."

Biographical summaries for each new member of the Company's Board of Advisors are provided below. Additional information regarding the Company's Board of Directors, Board of Advisors and Executive Management Team can be found on the Caneum corporate web site at

Romir Bosu is the Founder, President and CEO of Compushare, Inc., a profitable, eleven year old financial technology management company to over 600 community-based financial institutions nationwide. Compushare is currently the only financial technology management company with dominant market share in California, Texas, the Midwest and Northeast and intends to operate in 10 major communities and service over 2000 financial institutions by 2010. Mr Bosu is also a member of the Board of Directors of the Association for Financial Technology and often speaks to groups of community financial institution executives on technology and regulatory compliance.

Paul McNulty is the President and CEO of Paul D. McNulty & Associates, a professional services company providing highly skilled and seasoned ERP professionals focused on J.D. Edwards and Oracle ERP environments. Previously, Mr. McNulty was an EVP of Sales and Operations for Infocrossing, a VP and Area Director for the Southwestern United States for Emerald Solutions and a Partner for Ernst & Young LLP, focused on technology verticals encompassing Real Estate & Construction, Consumer Products, Entertainment, Financial Services, Services and Healthcare / Life Sciences. Mr. McNulty is the Treasurer, former VP for Endowment and Executive Committee Member for the Los Angeles Area Council of the Boy Scouts of America, a Life Member of the Los Angeles Central Unit Board of the American Cancer Society, a Board Member of the Cancer Detection Center, a Board Member of Optimizing National Education and Past Chairman of the Alumni Board of Directors for Whittier College.

David Oppenheimer is the Chief Scientist for PassAlong Networks, Inc., and President of National Sensor Corporation, a defense sector company focused on the real-time detection of chemical weapons in ground and air platforms. Since September 11th, Mr. Oppenheimer has worked closely with a number of United States defense agencies in areas of nuclear, biologic and chemical defense. Previously, he participated in high level conferences on terrorism at the Hoover Institute at Stanford University hosted by former Secretary of State George Shultz. Mr. Oppenheimer has been a member of the working group on bioterrorism at Stanford University and was an invited guest to discuss counter-terrorism matters and policy with the European Forum, co-hosting the conference on non-proliferation held at the Center for International Security and Cooperation (CISAC). He has worked for over 25 years in the public and private sectors, including roles at the NASA Ames Research Center, Hewlett Packard, NEC and Adaptec and has published extensively on bioterrorism and weapons of mass destruction. Mr. Oppenheimer received a Founding Member Recognition Award in 2003 from the United States Department of Homeland Security.

Andrew Quintero is the Director for the Office of Intellectual Property Management of The Aerospace Corporation, managing its intellectual property portfolio including technology transfer and commercialization. Previously, he served as Lead Architect for the Space Systems Engineering Database (SSED) project, creating the nation's largest systems engineering database for use in a wide range of United States government information studies and analyses. The SSED is used by numerous three and four letter government agencies to determine results ranging from the Mean Life Expectancy (MLE) of national security assets to international standards for on-orbit satellite anomalies. Mr. Quintero has worked as a Member of the Technical Staff at Hughes Aircraft Company and holds both an Executive MBA from Loyola Marymount University and a BS in Electronic Engineering Technology from the California Polytechnic State University at San Luis Obispo.

Jack Wells is the Vice President of Financial Compliance - IT Controls for Warner Bros. Entertainment, Inc., responsible for ensuring that the Company's domestic and international IT controls adhere to the requirements of Sarbanes-Oxley. Most recently, Mr. Wells was a VP for the Media and Entertainment Practice of Cap Gemini Ernst & Young and a Partner for the Media and Entertainment Practice of Ernst & Young LLP, where he also served as a Partner for the Aerospace and Defense Practice and the Performance Improvement Practice. He previously completed roles as a Partner for the Aerospace and Defense Practice for Arthur Young & Company, including positions as a Manager and Staff Consultant of the Financial Planning and Controls Practice. Mr. Wells holds an MBA, an MS in Environmental Engineering and a BS in Engineering from Stanford University, is a Certified Public Accountant in the State of California and has previously served as Chairman for the Accounting Models and Practices Committee for Computer Aided Manufacturing-International (CAM-I).

About Caneum, Inc.:

Caneum, Inc. is a global provider of business process and information technology outsourcing services across vertical industries, including technology, energy, government, transportation, financial services, education and healthcare. The Company provides a suite of business strategy and planning capabilities to assist companies with their "make versus buy" decisions in the areas of data, network, product development, product maintenance and customer support, and fulfills its services in-house, on-shore, near-shore and off-shore, depending on the business goals and objectives of its global customers. In parallel, the Company is opportunistically pursuing accretive acquisitions within its core outsourcing product and service suite in order to broaden its core capabilities, expand its customer base and supplement its organic growth. For more information, please visit the Company's web site at

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The Company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include, but are not limited to, the risk factors noted in the Company's filings with the United States Securities and Exchange Commission, such as the rapidly changing nature of technology, evolving industry standards and frequent introductions of new products, services and enhancements by competitors; the competitive nature of the markets for the Company's products and services; the Company's ability to gain market acceptance for its products and services; the Company's ability to fund its operational growth; the Company's ability to attract and retain skilled personnel; the Company's ability to diversify its revenue streams and customer concentrations; and the Company's reliance on third-party suppliers.

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