VIScorp Adds Three New Directors to the Board
CHICAGO, IL May 16 -- Visual Information Service Corp. (Nasdaq: VICP), a developer of Interactive TV (ITV) set-top boxes to enhance television use and viewing by providing Internet access and electronic communications functions, announced the addition of three members to its board of directors. Current board members are Jerome Greenberg, Chairman, Roger Remillard, founder, and William Buck, Chief Executive Officer. Joining the VIScorp board are:
Mr. Reid said: "It is exciting to have an opportunity to work with VIScorp, which has already demonstrated leadership and vision in developing one of the first entries in the rapidly emerging ITV field. I believe VIScorp has many of the key elements that contribute to succeeding in a new technology venture, including enthusiastic and experienced management, a sound business plan, and solid technological and engineering capabilities. I and my fellow board members look forward to contributing to the growth and development of VIScorp through our roles as directors and advisers."
Mr. Greenberg, Chairman, said: "We are proud to add these individuals, all highly experienced in their respective fields, to VIScorp's board. Their career accomplishments, and their past and current experience in management and corporate guidance, will be a valuable resource to help VIScorp stay a leader in the rapidly evolving field of interactive television.
"Bob Wussler brings decades of experience creating innovative programming, managing the distribution of entertainment and information to millions of households, and a deep understanding of technologies such as satellite communications, cable television, and interactive media, communications and interactive media.
"King R. Lee, who has an extensive background in communications, software and consumer products markets, has proven his leadership at the highest corporate levels. We anticipate rapid growth at VIScorp, and his experience managing fast-growing companies will be a tremendous asset."
He continued: "Bob Reid's 40 years at Engis includes overseeing worldwide operations and manufacturing, and this experience gives him valuable insights as VIScorp pursues its vision to be a global player in the ITV market."
Mr. Greenberg concluded: "In their careers, all three directors have shown decisiveness, keen management skills and a constant awareness of the bottom line, combined with a strong sense of vision for the future. This is exactly the combination that we believe will help VIScorp become a leader in the emerging ITV field."
As President of COMSAT Video Enterprises, he restructured the organization and re-focused its strategies as the largest supplier of satellite-delivered entertainment to the U.S. lodging industry. In nine years with Turner Broadcasting System and SuperStation WTBS, he provided leadership in building Cable News Network, Headline News, TNT, the Atlanta Braves, Atlanta Hawks, TBS Sports, and more. Under his leadership, WTBS achieved exposure in more than 200 major U.S. markets, reaching 33 million homes.
King R. Lee
Previously, as President and CEO of XTree Company, a utility software producer, he led the company to a 1,700 percent increase in revenues before the company was acquired. Mr. Lee held marketing management positions with General Mills and Lever Brothers where he marketed products both domestic and international.
Robert E. Reid
VIScorp has announced that it intends to begin marketing its first set-top box with full Internet and Web capabilities, called the Universal Internet Television Interface(R), (UITI(R)) in the fourth quarter of 1996. The company says an enhanced set-top device, the Electronic Device(R) (ED(R)) is scheduled for roll out in 1997, and will feature capabilities such as telephone reception and dial-up, facsimile, pay-per-view options, electronic mail, access to on-line services, including the Internet, and more.
Visit the company's Web page at http://www.vistv.com/, and direct e-mail to email@example.com.
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CONTACT: Florine Radulovic of VIScorp, 312-655-0903; Tad Gage, General Information, 312-640-6745, or Bess Gallanis, Media, 312-640-6537, both of The Financial Relations Board (VICP)