SOURCE: MaintenanceNet, Inc.

March 11, 2008 11:00 ET

MaintenanceNet, Inc. Expands Board of Directors With Addition of Leading Technology Industry Veterans John Downing and Joe Markee

Business and Finance Experts Selected to Help Build MaintenanceNet's Growth as It Drives Advances in Service Contract Management

CARLSBAD, CA--(Marketwire - March 11, 2008) - MaintenanceNet, Inc., the leading provider of maintenance contract management services, today announced the appointment of two renowned technology industry veterans, John Downing and Joe Markee, to its board of directors.

According to Scott Herron, CEO of privately held MaintenanceNet, the new board members were chosen because of their highly successful entrepreneurial track records as well as their proven capabilities for establishing, growing and managing companies in the fast-paced technology sector.

"MaintenanceNet is extremely fortunate to have both of these esteemed individuals join our board. Their enduring success in the technology industry will prove invaluable during this high-growth stage," said Herron. "We will rely upon John and Joe for strategic advice and direction as we continue with our pioneering advances in analytics-based, warranty and service contract management."

Formed in 2001, MaintenanceNet serves the world's largest technology manufacturers and distributors with a software-as-a-service (SaaS) platform that yields exponential growth in product and service revenues. The company will build upon its market leadership by drawing upon the experience of both Downing and Markee, who have strong ties to the San Diego region, where MaintenanceNet is headquartered.

Downing brings more than 30 years of experience in technology development, executive management and venture capital to MaintenanceNet. After seven years in product development and marketing at Digital Equipment Corporation, he founded Pacific Data Products in San Diego. As CEO of Pacific Data Products, he grew the company to over $80 million in revenues in the 1980s while maintaining more than 20 percent in pre-tax profits. Selected as an Ernst & Young "Entrepreneur of the Year" in 1989, Downing, while in the IPO process, merged Pacific Data Products with NYSE-listed Digital Communications Associates in 1990.

Subsequently, he joined Techno Venture Management (TVM), Germany's premier venture capital fund, as a venture partner before becoming a founding venture partner with Palomar Ventures, based in Santa Monica, Calif. In 2001, Downing moved to semi-retirement and owns and manages Downing Family Vineyards, of Napa, Calif. and the Downing Family Foundation. He currently serves on the advisory boards of leading private wealth manager Northern Trust Bank, based in Chicago, and Clinic Ole, a leading provider of primary healthcare in California's Napa Valley.

Markee currently serves as a managing director of San Diego-based Express Ventures, where he leverages his extensive experience in early stage company formation, capital raising, corporate management, and public and private corporate governance. Prior to joining Express Ventures, he took Figure 8 Wireless, a San Diego wireless communications company, from its initial business plan and fund raising in 2004, to its sale to Chipcon ASA of Norway in 2005. Texas Instruments subsequently purchased Chipcon in 2006 for $200 million.

In addition, Markee co-founded Copper Mountain Networks in 1995, serving as founding CEO of the Palo Alto, Calif.-based company. As chairman and CTO, he helped take the organization public in May 1999. From 1988 to 1995, he co-founded San Diego-based Primary Access, a remote access server company that was sold to 3Com Corporation in 1994 for $170 million.

Markee was also a founder and served as president of the San Diego Telecommunications Council (recently renamed CommNexus). He has been honored with numerous awards, including the Ernst & Young San Diego Region "Master Entrepreneur of the Year Award" in 2000.

About MaintenanceNet

MaintenanceNet is the leading provider of warranty and contract management services. The company's technology platform provides proven increases in overall profitability and revenue for manufacturers. MaintenanceNet's channel-friendly solutions automate and improve underlying data integrity, resulting in reliable customer information for registering and renewing service contracts. Using its online, interactive SaaS platform, MaintenanceNet provides the entire supply chain with a 360-degree view of their warranty and service contracts. The world's largest technology leaders turn to MaintenanceNet to achieve greater success in their service businesses. For more information, please visit or call 866-699-7212.

MaintenanceNet is a registered trademark of MaintenanceNet Incorporated.

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    MaintenanceNet, Inc.
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    Paula Johns Communications
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