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Woodland
Hills, Calif., November 21, 2000 – Vertel® (NASDAQ: VRTL), a leading provider of middleware for the telecommunications market, today announced changes to its management structure.
Cyrus D. Irani will expand his role to include directing new business initiatives such as the launch of the recently announced WebResolve(TM) division, concurrent with the appointment of Bruce W. Brown as CEO of Efficient Networks. Brown will remain in the position of Chairman of the Vertel board of directors.
"We wish to thank Bruce for his leadership, particularly with his role in the launch of the new division, and wish him success in his new position," said Irani. "We look forward to Bruce's continued guidance as chairman."
Irani will assume the management duties formerly held by Brown in his role as Executive Chairman. Irani will directly supervise the WebResolve Division and will direct future merger and acquisition activity with the assistance of the entire Vertel officer team.
About Vertel
Vertel is a leading provider of middleware for the telecommunications industry. Vertel provides high performance, reliable middleware for connecting modern, distributed computing software. The company specializes in software that manages broadband, wireless and Internet networks and the embedded software that runs the hardware in these networks.
Vertel middleware provides software-to-software communication for connecting telecom management systems together, connecting the distributed software inside telecom network equipment and connecting the communication software of mobile devices such as hand-held PDAs with network based applications.
Vertel products are sold worldwide to network equipment manufacturers, service providers, software vendors and systems integrators. The company's customer base is a "who's who" of the telecom industry. Vertel also develops turnkey management applications that fit individual customer requirements through its Professional Services Unit. The company is based in Woodland Hills, California and has sales offices throughout the world.
For more information on Vertel or its products, contact Vertel at 21300 Victory Boulevard, Suite 700, Woodland Hills, Calif. 91367; telephone: 818/227-1400; fax: 818/598-0047 or visit the Vertel Web site at
http://www.vertel.com.
Safe Harbor Statement: Except for the historical information presented, the
matters discussed in this news release are forward looking statements and
are made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These statements should be evaluated
together with the many risks and uncertainties that affect our business and
may cause results to differ materially from those set forth in the
statements. These include timely and successful development of products and
technologies; successful introduction and customer acceptance of new and
enhanced products and technologies in existing and new markets; the
possibility that delays or difficulties will arise in implementing complex
products and technologies and enabling them to work successfully with other
complex products and technologies; the possible development and introduction
of competitive products and new and alternative technologies; pricing,
currency and exchange risks; governmental and regulatory developments
affecting Vertel and its customers; the ability to retain and attract key
personnel; and other risks and uncertainties detailed from time to time in
Vertel's periodic and other reports filed with the U.S. Securities and
Exchange Commission (SEC) by Vertel, including, but not limited to, the
Annual Report on Form 10-K for the year ended December 31, 1999 and the
Quarterly Report on Form 10-Q for the quarter ended September 30,2000.
Vertel undertakes no obligation to correct inadvertent or intentional
miscommunication by members of the press of the company's formal or informal
statements to the media or to update forward-looking statements made in this
release to reflect events or circumstances after the date of this statement.
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