Spectrum Signal Processing Inc.

Spectrum Signal Processing Inc.

November 02, 2006 16:00 ET

Spectrum Signal Processing Announces Senior Management and Board of Director Changes

BURNABY, BRITISH COLUMBIA--(CCNMatthews - Nov. 2, 2006) - Mr. Irving Ebert, Chair of the Board of Directors of Spectrum Signal Processing Inc. (TSX:SSY)(NASDAQ:SSPI), today announced the following changes to the Company's senior management team and its Board of Directors:

- The resignation of Mr. Pascal Spothelfer as Spectrum's President and Chief Executive Officer. Mr. Spothelfer will continue to serve on Spectrum's Board of Directors;

- The resignation of Mr. Andrew Harries from the Company's Board of Directors;

- The appointment of Mr. Brent Flichel to the position of President and Chief Executive Officer and as a member of the Company's Board of Directors;

- The appointment of Ms. Elena Kinakin to the position of Vice-President, Finance; Chief Financial Officer and Company Secretary;

- The appointment of Mr. Douglas Atterbury to the position of Vice-President, Engineering; and

- The promotion of Mr. Leonard Pucker II from Chief Technology Officer to Chief Technology Officer and Vice-President, Corporate Development.

Spectrum's senior management changes, to take effect immediately, are part of the Company's focused strategy to reduce its operating expenses and achieve cash earnings break-even in 2007.

"Spectrum has made the challenging transition from a general-purpose signal processing company to a recognized leader in the software defined radio marketplace under Pascal's leadership," stated Mr. Ebert. "However, the Board felt that this was the right time to make management changes pursuant to the Company's CEO succession plan. Brent's fresh leadership combined with the reduced senior management financial overhead will help us achieve our goals. I have worked with Brent for over six years and I am looking forward to working with him closely in his new role."

"I am very appreciative that Pascal remains committed to Spectrum as a member of the Company's Board of Directors," added Mr. Ebert. "I also wish to recognize and thank Mr. Harries for his contributions to Spectrum's Board and its Compensation and Nomination Committee over the past seven years. Andrew is stepping down to devote more attention to his role as CEO of his start-up company and to allow for Brent to join the Board."

Ms. Elena Kinakin joined Spectrum in 1999 and has served the Company in a number of progressively senior financial roles including, most recently, Director, Finance. Ms. Kinakin has over 19 years of finance experience including senior financial positions in a range of privately held companies. Ms. Kinakin holds a Certified General Accountant designation.

Mr. Douglas Atterbury joined Spectrum in June 2006 as Director, Engineering. Prior to joining Spectrum, Mr. Atterbury spent more than 20 years developing electronic warfare systems and commercial telecommunications products. He has held senior positions at Grintek Electronics, Glenayre Electronics and Sierra Wireless. Mr. Atterbury holds a Bachelor of Engineering in Electronic Engineering from the University of Pretoria and completed Executive Development training at the University of Witwatersrand Graduate School of Business Administration.

"I believe that our updated strategic plan is focused and realistic," stated Brent Flichel, Spectrum's newly appointed President and CEO. "Moreover, it builds upon our strengths as a company, including our software defined expertise, our established market position and our broad portfolio of design-ins. I look forward to leading the execution of this plan and realizing Spectrum's true potential for our staff and investors."


Spectrum Signal Processing Inc. (TSX:SSY)(NASDAQ:SSPI) is a leading supplier of software defined platforms for defense electronics applications. Spectrum's products and services are optimized for military communications, public safety, signals intelligence, surveillance, electronic warfare and satellite communications applications. Spectrum's integrated, application-ready products provide its customers with compelling time-to-market and performance advantages while mitigating program risk and cost parameters. Spectrum Signal Processing (USA) Inc., based in Columbia, MD, provides applications engineering services and modified commercial-off-the-shelf platforms to the US Government, its allies and its prime contractors. For more information on Spectrum and its flexComm™ product line, please visit www.spectrumsignal.com.


This news release contains forward-looking statements related to Spectrum Signal Processing Inc. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, including the timely development and acceptance of Spectrum's new products, the impact of competitive products and pricing, availability of components, changing market conditions and the other risks detailed from time to time in other company filings. Actual results may differ materially from those projected. These forward-looking statements represent the company's judgment as of the date of this release and Spectrum may or may not update these forward-looking statements in the future. Readers are referred to Spectrum's assumptions and risk factors set out in the most current Form 20-F filed with the Securities and Exchange Commission and the British Columbia Securities Commission.

™ flexComm is a trademark of Spectrum Signal Processing Inc.

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