Vecima Networks Inc.

Vecima Networks Inc.

March 20, 2007 16:03 ET

Vecima Announces Additions to Senior Management

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 20, 2007) - Dr. Surinder Kumar, Chairman and Chief Executive of Vecima Networks Inc. (TSX: VCM), is pleased to announce the strengthening of the Company's senior management group through several promotions and additions of key executives.

"At this stage of Vecima's rapid growth and development it is fitting that we put in place a foundational management team which holds the skill set necessary to deliver upon our vision. I am very pleased to have put together this creative and capable team and am confident that we are well poised to achieve our goals," said Dr. Kumar.

Mr. Wayne Fredin joined Vecima as Vice President of Sales in January 2007. In this role, Mr. Fredin will be responsible for overall coordination, functional management, and leadership of all of the sales activities of Vecima. He will be responsible for growing Vecima's wireless sales organization to support WiMax sales growth, and expanding the international presence of the company's complete line of broadband last mile communications products. Prior to joining Vecima, Mr. Fredin worked in the energy industry in Alberta in sales and project management roles where he delivered complex hardware, software, and communications based production optimization solutions. He is also an active member of the Communication Reserves and serves as a Lieutenant Colonel commanding the 74 Communication Group based in Victoria.

Mr. Graham Carrothers joined Vecima as Corporate Counsel and Secretary in May 2006. As part of his responsibilities at Vecima, Mr. Carrothers will be concentrating on mergers and acquisitions, in addition to management of Vecima's IP portfolio and Securities regulatory requirements in Canada, the US, and other countries. Most recently, Mr. Carrothers worked at Global Securities Corporation in Vancouver as a Corporate Finance Analyst and Legal Counsel. Mr. Carrothers has experience dealing with a number of corporate legal matters, including the negotiation, drafting and review of contracts as well as private and public securities offering documents, the coordination of files with outside legal counsel and the management of legal proceedings.

In addition, there have been a number of key internal promotions over the past year.

Mr. Douglas Fast has been promoted to Executive Vice President. In this role, Mr. Fast will work closely with Dr. Kumar and the senior management team to develop, manage, and execute the overall strategy for the company. Since joining Vecima in 1993, Mr. Fast has held the titles of Senior Network Architect (2002), Director of Research and Development (2004), and Vice President of Research and Development (2005). His broader responsibilities in these positions, along with his technical skills, have ideally positioned him to keep abreast of new technologies and directions within the industries served by Vecima. Mr. Fast will also retain his responsibilities as Vice President of Research and Development, and will continue to provide oversight and guidance to that department.

Ms. Tracy Miller has been promoted to the position of Vice President of Manufacturing. In this role, Ms. Miller will lead Vecima's world class manufacturing team of approximately 600 persons to expand and enhance operations as they evolve to support the company's new generations of wireless and wired products. Ms. Miller has over 20 years of management experience in a variety of industrial, commercial and consumer fields. Her background includes materials management, risk and skill assessment, marketing management, senior administrative and systems management, as well as training and project management experience.

Mr. Sumit Kumar has been promoted to Vice President of Corporate Strategy. In this role, Mr. Kumar will be responsible for leading Vecima's corporate strategic planning process, with a focus on developing strategies for organic growth through technology development as well as growth through mergers and acquisitions. Working closely with Dr. Kumar, Mr. Fast, and the Board of Directors, his primary responsibility will be overall corporate development. Mr. Kumar has significant technical experience with the company, having worked in the R&D department on both EdgeQAM and WiMax products and architectures as well as within business development since joining Vecima in 1995.

About Vecima Networks

Vecima Networks Inc. (TSX:VCM) designs, manufactures and sells products that enable broadband access to cable, wireless and telephony networks. Vecima's hardware products incorporate original embedded software to meet the complex requirements of next-generation, high-speed digital networks. Service providers use Vecima's solutions to deliver services to a converging worldwide broadband market, including what are commonly known as "triple play" (voice, video and data) and "quadruple play" (voice, video, data and wireless) services. Vecima's solutions allow service providers to rapidly and cost-effectively bridge the final network segment that connects the system directly to end users, commonly referred to as "the last mile", by overcoming the bottleneck resulting from insufficient carrying capacity in legacy, last mile infrastructures. Vecima's products are directed at three principal markets: Data over Cable, Broadband Wireless and Digital Video. The Company has also developed and continues to focus on developing products to address emerging markets such as Voice over Internet Protocol, fibre to the home and IP video.

Forward-Looking Statements

Certain statements in this news release may constitute forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this news release, such statements are generally identified by the use of such words as "may", "will", "expect", "believe", "plan", "intend" and other similar terminology. These statements reflect Vecima's current expectations regarding future events and operating performance and speak only as of the date of this news release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors including, but not limited to, the factors discussed under "Risk Factors" in the Company's Annual Information Form dated September 27, 2006 available on SEDAR (, could cause actual results to differ materially from the results discussed in the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances.

Contact Information