SOURCE: Exobox Technologies Corp.

December 16, 2008 07:00 ET

Exobox Announces New Independent Directors

HOUSTON, TX--(Marketwire - December 16, 2008) - Exobox Technologies Corp. (OTCBB: EXBX) announces that it has successfully re-structured its Board of Directors in order to meet the requirements of Sarbanes Oxley and the major securities listing exchanges such as the Nasdaq® and the American Stock Exchange® (now part of NYSE Euronext(SM)). To accomplish this, the Company added two new independent directors, Charles Turner and Stephen R. Lesem, in order to have a majority of independent directors on its Board. Messrs. Turner and Lesem join Richard A. Evans and Michael S. Studdard as independent members of Exobox's seven-member Board of Directors.

Messrs. Turner and Lesem will be filling the vacant seats resulting from the resignation of James W. Metts in August and Marcos Pernia earlier this month. As previously announced, Mr. Metts resigned due to the time commitments associated with his personal businesses. Mr. Pernia, one of three affiliate directors, resigned as part of the Company's long standing plan to accomplish a majority of independent directors on its Board. Mr. Pernia remains with the company in his product development position.

Exobox CEO, Robert Dillon, stated, "With these two new independent directors, we now comply with the governance requirements of the major securities listing exchanges such as the Nasdaq® and the American Stock Exchange® related to having a majority of independent directors and an independent financial expert on the Board. We are very pleased to have accomplished this approximately eight months prior to the deadline set under Sarbanes Oxley legislation for companies like Exobox and to have done so with the addition of such outstanding candidates as Mr. Turner and Mr. Lesem."

Mr. Turner has served as Chief Financial Officer of Pinpoint Commercial, an industrial real estate development firm based in Houston, Texas, since October 2006. From July 2004 through October 2006, Mr. Turner served as Vice President of Finance, Planning and Operations for Attachmate (formerly NetIQ). From 2001 through 2004, Mr. Turner worked at BMC Software where he managed Corporate Planning and Strategy.

Mr. Lesem has served as President and Chief Executive Officer, Mezeo Software Corporation, a Houston based cloud storage platform provider from 2008 to present. In 2007, Steve was Senior Vice President and Chief Marketing Officer of VeriCenter, an IT hosting provider acquired by SunGard in 2007. From 2005 to 2006 Steve served as Senior Vice President of worldwide sales of SafeNet, a Maryland based security technology firm. From 1997 to 2005, Steve served in a variety of capacities, including VP of business development and channel programs, Asia Pacific at BMC Software, a Houston based systems management software solution provider.

About Exobox Technologies Corp.

Exobox Technologies Corp., headquartered in Houston, Texas, is a an enterprise network and endpoint data security development and licensing company that owns patented and patent-pending technology designed to address the serious and growing need in the computer market for reliable, efficient, proactive and effective network and data security solutions. Visit www.exobox.com for more information.

Safe Harbor Statement: The statements in this release that relate to future plans, expectations, events, performance and the like are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Actual results or events could differ materially from those described in the forward-looking statements due to a variety of factors, including the lack of funding, inability to complete required SEC filings, and others set forth in the Company's report on Form 10-K for fiscal year 2007 filed with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Investor Relations:
    Equiti-trend Advisors LLC
    800-953-3350 toll-free
    U.S. & Canada

    858-436-3350 local or international
    9:30 a.m. - 5:00 p.m. EST