SOURCE: Procera Networks

April 19, 2007 08:00 ET

Procera Networks Welcomes Two New Seasoned Members to Its Board of Directors

Mary Losty and Staffan S. Hillberg Bring Extensive Financial, International and Governance Experience to Procera's Board of Directors

LOS GATOS, CA -- (MARKET WIRE) -- April 19, 2007 --Procera® Networks, Inc. (OTCBB: PRNW), a pioneering developer of intelligent network traffic and service management infrastructure equipment, today announced it has recently appointed two new members to its Board of Directors: Mary M. Losty and Staffan S. Hillberg.

Ms. Losty is currently the General Partner at Cornwall Asset Management, LLC, a portfolio management firm located in Baltimore, Maryland, where she is responsible for the firm's investment in numerous companies. Ms. Losty's prior experience includes working as a portfolio manager at Duggan & Associates, an equity research analyst at M. Kimelman & Company, and as an investment banker at Morgan Stanley and Co. For several years before joining Morgan Stanley, Ms. Losty served as the top aide to The Honorable James R. Schlesinger, a five-time Cabinet Secretary. Ms. Losty received both her B.S. and Juris Doctorate degrees from Georgetown University, the latter with magna cum laude distinction. She is a member of the American Bar Association and a commissioner for Cambridge, Maryland's Planning and Zoning Commission. Ms. Losty also sits on the board of directors of the American Board of the United Nations University for Peace, an institution which enjoys the exclusive status of being sanctioned by all 192 member states of the United Nations.

Mr. Hillberg is currently the CEO of Scandinavian Financial Management AB, a private equity group based in Sweden. Previously, he held the position of managing partner at the MVI Group, one of the largest and oldest business angel networks in Europe with over 175 million Euros invested in 75 companies internationally. While at MVI he oversaw a number of successful corporate exits which included two IPOs in 2006 on the AIM exchange in London, as well as an IPO on the Swiss Stock Exchange. Mr. Hillberg attended the M.Sc. program at Chalmers University of Technology in Sweden and holds an MBA from the renowned Graduate Business School, INSEAD, in Fontainebleau, France.

"Both Ms. Losty and Mr. Hillberg have served on the boards of directors at several highly-visible organizations, both in the United States and in Europe. The combination of their extensive worldwide product, operations, legal, and in particular, financial experience will be extremely beneficial in helping guide Procera Networks to our next stage of growth. We are both delighted and privileged to have them join Procera's Board of Directors," said Doug Glader, CEO of Procera Networks.

About Procera Networks

Founded in 2002, Procera Networks, Inc. (OTCBB: PRNW) is a global provider of intelligent network traffic identification, control and service management infrastructure equipment. Procera's core product suite, the PacketLogic™ line of appliances, provide the most accurate application identification available today by using the industry-leading connection identification engine DRDL™ (Datastream Recognition Definition Language). PacketLogic is deployed at more than 300 broadband service providers (xSPs), Telcos, colleges and universities worldwide. For more information, visit http://www.proceranetworks.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in this press release, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of Procera to commercialize the applicable technology and introduce products and the acceptance of those products by the market, the ability of resellers to sell the Procera products, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's reports and filings with the SEC (Securities and Exchange Commission) from time to time.

Contact Information

  • Contact Procera:

    Jeff Gigoux
    Procera Networks, Inc.
    408.354.6736
    Email Contact

    John Liviakis
    (Investor Relations)
    Liviakis Financial Communications Inc.
    415.389.4670

    Steven Beedle
    ZNA Communications
    831.425.1581
    Email Contact