November 14, 2005 05:49 ET

SavaJe Appoints New CEO and CFO; Industry Veterans Gregory Koss and William Sorenson Selected for Key Leadership Roles within the Company

CHELMSFORD, Mass.--(CCNMatthews - Nov 14, 2005) -

SavaJe Technologies, the developer of an open, Java™-based operating system for mobile phones, today announces the appointment of Gregory Koss as its new Chief Executive Officer and William Sorenson as Chief Financial Officer.

The announcement coincides with SavaJe's confirmation that it has completed the development of a SavaJe-enabled LG phone, a monumental milestone for the company. The appointments are crucial to driving and supporting the company's strategy to achieve market success and develop the commercial potential that the SavaJe platform holds.

Gregory Koss is an industry veteran with over 25 years experience at executive level positions within the networking and communications industries. He is Chairman of Reef Point Systems which provides massively scalable security gateway solutions for the fixed mobile convergence market. Koss has spent the last year working as a Consultant in New York for leading global private equity firm Warburg Pincus. Prior to this he was President and CEO of carrier-grade Optical Ethernet systems provider Internet Photonics, a spin-out of Lucent / Bell Laboratories, which was acquired by CIENA Corporation. Koss has also held the position of President and CEO of Sonoma Systems, which was acquired by Nortel Networks in 2000.

William Sorenson joins SavaJe as Senior Vice President and Chief Financial Officer. Most recently, Sorenson was Executive Vice President and Chief Financial Officer for EMI Music Publishing, the world's largest music publishing company. Prior to that, he was Executive Vice President and Chief Financial Officer at BeMusic, a division of Bertelsmann, and Acclaim Entertainment. He also spent eight years with News Corporation as Senior Vice President of Finance and Investor Relations and co-coordinated the Fox Entertainment Group IPO.

"I am delighted to be joining SavaJe as its new CEO at such an exciting time. With the principle development work now complete, SavaJe will be quickly making the transition from a technology-oriented company to a global customer-focused operation. SavaJe occupies a truly unique position in the market and we are strengthening the management team to ensure that we fully and rapidly exploit the enormous potential of our strategic position," explained Gregory Koss, SavaJe's new CEO. "William Sorenson is the first in a series key appointments necessary for reinforcing the next stage of SavaJe's route to market success. Bill is a heavyweight in the financial sector, but he also brings considerable expertise and knowledge of the all important music and electronics entertainment industries to the company. I am looking forward to creating and supporting the new management structure that will exploit SavaJe's commercial potential."

About SavaJe Technologies

SavaJe Technologies is the developer of SavaJe OS™ platform, an open, Java-based operating system for mobile phones. Based on Sun Microsystems' Java technology, SavaJe OS offers operators and OEMs a standardized platform, with an unmatched level of security. SavaJe OS provides manufacturers and operators with the ability to fully customize the user experience while maintaining full applications compatibility across implementations. The scalability of the platform, which uniquely implements an advanced set of industry-standard Java APIs as its single applications environment, offers significant benefits to OEMs and ODM handset manufacturers. Operator customization, systems integration and handset testing is simplified, and time to market is thereby reduced. SavaJe Technologies is a privately held company, which has been funded by leading venture capital firms VantagePoint Venture Partners, Ridgewood Capital, RRE Ventures and New Venture Partners, as well as by the strategic investment arms of Vodafone, T-Mobile and Orange. SavaJe is headquartered in Boston, Massachusetts, and has European offices in Cambridge, UK.

Sun, Sun Microsystems and Java are trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and other countries. SavaJe is a registered trademark and SavaJe OS is a trademark of SavaJe Technologies, Inc. All other company and product names are trademarks or registered trademarks of their respective owners.

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