SOURCE: CoroWare, Inc.

July 07, 2008 16:45 ET

CoroWare Announces Board and Management Changes

Board and Management Changes Emphasize Strategic Planning and Financing

REDMOND, WA--(Marketwire - July 7, 2008) - CoroWare, Inc. (OTCBB: CROE) today announced that Gary McNear and Craig Conklin resigned from the Board of Directors effective immediately. In addition, Linda Robison resigned from her positions of Corporate Secretary, Interim Chief Financial Officer and Corporate Counsel. All of their valuable contributions to Innova Holdings and CoroWare during their tenures are sincerely appreciated by the Board of Directors and management.

"The Board of Directors and I thank Mr. McNear, Mr. Conklin and Ms. Robison for their many contributions and years of service to the Company," said Lloyd Spencer, Interim CEO of CoroWare, Inc.

Martin Nielson, who currently serves on CoroWare's Board of Directors, was appointed Interim Chief Financial Officer of CoroWare. In addition, Jon Mandrell, who serves as Director of the Robotics and Automation Business Unit at CoroWare Technologies, was appointed Corporate Secretary of CoroWare, Inc.

These changes will provide CoroWare's management team with a more streamlined planning process and greater guidance on strategic financing. CoroWare's focus will be on business opportunities with greatest benefit to shareholders.

About CoroWare

CoroWare Technologies, a subsidiary of CoroWare, Inc. (OTCBB: CROE), is a systems and mobile robotics integrator that delivers high value services and innovative solutions to maximize technology investments and achieve customers' goals. CoroWare has a depth of knowledge and breadth of experience in developing software and solutions for mobile service robotics and business automation through products that include the CoroBot product line. For more information, please visit www.coroware.com.

The names of actual companies and products mentioned herein may be the trademarks of their respective owners.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. These risks and uncertainties are described in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.

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