SOURCE: Nestor, Inc.

July 20, 2005 06:30 ET

Nestor, Inc. Concludes Annual Meeting of Stockholders and Announces Election of New Chairman

PROVIDENCE, RI -- (MARKET WIRE) -- July 20, 2005 -- Nestor, Inc. (NASDAQ: NEST), a leading provider of automated traffic safety solutions and services, today concluded its annual meeting of the stockholders. During the meeting, Mr. William Danzell, serving as Chairman of Nestor, Inc., was pleased to announce the newly elected, Non-Executive, Chairman of the Board, George Ball. In addition, the Company has established an independent nominating committee that will be responsible for advising the Board on the nomination and evaluation of the members of the Board of Directors.

"We are excited to have Mr. Ball serve as Chairman of Nestor. As Chairman of Sanders Morris Harris Group, he brings a wealth of experience in the management and guidance of growing companies. As a non-executive Chairman, he will bring an outside perspective to the Company that will help guide Nestor in this rapidly growing market," said Mr. Danzell.

Mr. Ball stated, "I am pleased to have been elected Chairman of the Board of Directors and I look forward to being even more involved with the Company in the coming year. I believe Nestor is well positioned in this emerging market in terms of both management capability and product offering. The next twelve months will be an exciting time for Nestor."

Statements in this press release about future expectations, plans and prospects for Nestor, including statements containing the words "expects," "will," and similar expressions, constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. We may not achieve the plans, intentions or expectations disclosed in our forward-looking statements and investors should not place undue reliance on our forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various factors, including: market acceptance of our products, competition, patent protection of our technology, and other factors discussed in Exhibit 99.1 to our most recent annual report filed with the SEC. The forward-looking statements included in this press release represent our current views and we specifically disclaim any obligation to update these forward-looking statements in the future.

Contact Information

  • CONTACT:
    Nigel P. Hebborn
    Executive Vice President
    (401) 434-5522 ext. 714
    www.nestor.com