Former ARAMARK CIO Joins Javelin to Lead New Company Focused On Providing Internet-Based Solutions (Business Wire; 05/04/99) IRVINE, CALIF. (May 4) BUSINESS WIRE -May 4, 1999--Javelin Systems Inc. (Nasdaq/NM:JVLN) Tuesday announced that Donald R. Welsh has joined the company to become the president and chief operating officer of Javelin's new wholly owned subsidiary, which will focus on providing enterprise-wide internet-based solutions to the food service industry. The new company will be based in Philadelphia. Welsh, 33, has more than 10 years of experience in the hospitality, retail and foodservice industries and, most recently, served as vice president and chief information officer for ARAMARK Corp.'s Sports and Entertainment Group. During his tenure, he initiated and directed ARAMARK's e-commerce activities, which generated more than $2 million in annual revenues. Welsh holds a master's degree of business administration in finance and economics from Widener University. Robert Nichols, the current president of CCI Technology Services ("CCI"), a Javelin subsidiary, will become chief executive officer of the new entity, which will include CCI and the newly acquired Dynamic Technologies Inc. "By combining CCI's strengths as a provider of turnkey technical services with DTI's expertise as an Internet/intranet customized software and services provider, we continue to move toward our goal of creating seamless, wholly integrated solutions for our customers," said Richard Stack, president and chief executive officer of Javelin. "The creation of this new company will enable us to target higher-margin opportunities, extending the range of our products and services from the store level all the way up to the corporate headquarters level. Robert and Don will partner to form a formidable management team." "As president of CCI, Robert has demonstrated an ability to lead this company toward exciting growth opportunities. Don's diverse business background and extensive hands-on experience in developing and implementing information technology in the food service, hospitality and retail industries make him a critical factor in our ability to effectively leverage and manage both CCI's and DTI's combined resources and capabilities." About Javelin Systems Javelin Systems designs, manufactures and markets open system touchscreen point- of-sale ("POS") computers and provides POS systems integration services primarily for the foodservice and retail industries. POS systems incorporating the company's products enable restaurants and retailers to capture, analyze, disseminate and use information throughout an enterprise from the point of sale to the in-store "back office" to the enterprise's headquarters. These POS systems provide transaction processing, in-store operating controls, and timely information used to manage inventory and costs, analyze sales data and customize products and services. The company's product family of network- ready computers integrates substantially all of the functionality of standard desktop personal computers into durable, small footprint touchscreen workstations that run on industry standard open operating systems. Visit Javelin at www.jvln.com. The statements in this news release that relate to future financial results, future plans by the company, customer contracts or financial performance by the company are forward-looking statements that involve risks and uncertainties pertaining to customer orders, demand for products and services, development of markets for the company's products and services and other risks identified in the company's Securities and Exchange Commission filings. The company's actual results and performance may differ materially; therefore, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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