Celsia Technologies News

New Celsia Board Assignments for Industry Veterans Ron Willis and Charles Resnick, Bolstering Industry Expertise at Board Level

SAN JOSE, Calif., July 3 PRNewswire-FirstCall — Celsia Technologies (OTC Bulletin Board: CSAT; celsiatech.com), a leader in cooling solutions for the computer, telecommunications infrastructure, and LED lighting industries, announces that on June 24, 2008, at the Annual Meeting of Shareholders of Celsia Technologies, Inc. the shareholders of the Company approved the election of Mr. Ronald Willis to the Company's Board of Directors. In addition, Mr. Charles Resnick was appointed Chairman of the Board of Directors. Mr. Resnick replaces Gregory Osborn, who will continue to serve as a director of the Company and is a member of the audit committee.

These moves complete a Board transition plan designed to add technology industry knowledge and experience to help Celsia succeed as it continues to roll-out its patented Nanospreader technology. "I am excited at the progress the company has made with its new product strategy," commented outgoing Board chair Gregory Osborn. "The changes we are making on the board are ones that will help us leverage the core competencies we have patiently invested in over the past several years."

It is expected that Mr. Willis will serve on the compensation committee of the Board. Mr. Willis is currently president, CEO, and director of CipherOptics, Inc. Mr. Willis has over 20 years of experience in sales, marketing, engineering, business and management leadership in information technology and networking markets. Most recently, Mr. Willis was Vice President of Worldwide Commercial Marketing for Cisco Systems, Inc. ("Cisco") where he directed key programs, including the development of secure, high speed Internet and intranet access from public access facilities. Mr. Willis joined Cisco through the acquisition of Aironet Wireless Communications (valued at $1.3 billion at closing), where he was Senior Vice President of Sales and Marketing. Previously, Mr. Willis was employed with Digital Equipment Corporation for over 14 years, where he held significant management positions in marketing and sales. Mr. Willis has 13 patents pending or applied for in the IT and network security space.

Charles Resnick has served on the Celsia Board since 2006. He is the managing partner of Inflexion Partners. His 25-year career includes assignments in global general management, operations, financial management, and strategic relationship development in the technology, banking, and consumer packaged goods sectors. Charles has held senior management positions in the United States, South America, Mexico, and Western Europe with Danka Business Systems, Tropicana Products, Mellon Bank, PepsiCo and The Procter & Gamble Company.

Charles has extensive experience with both domestic and international mergers and acquisitions, and has been involved in over 100 acquisitions and divestitures, including a $1.8 billion acquisition for Danka Business Systems. Charles was also a lead participant in negotiating the GATT and NAFTA Agreements as Undersecretary in the Bush administration (1990-1993).

Insider Common Stock Purchases Announced

In addition to changes in the Board, the Company announced that two board members (Messrs. Resnick and Osborn) had recently purchased Celsia common shares in open market transactions. Mr. Jorge Fernandez, the company's Chief Financial Officer, also purchased common shares in an open market transaction. All transactions occurred on May 22 and 23, 2008.

About Celsia Technologies

Celsia Technologies is a full solution provider and licensor of thermal management products and technology for the PC, consumer electronics, lighting and display industries. The company is a leader in developing and commercializing next-generation cooling solutions built on patented micro thermofluidic technology. Celsia Technologies' extensive intellectual property portfolio includes patents registered in Korea, the U.S., Japan and Taiwan, with patents pending in the EU, Russia, India and China.

Forward Looking Statements

This press release contains forward-looking statements, involving risks and uncertainties. Such statements are based on management's current expectations and are subject to certain factors, risks, and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors which include, but are not limited to, Celsia Technologies' ability to attract investors, Celsia Technologies' future operating results, and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism and the conflict with Iraq. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Celsia Technologies does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

SOURCE Celsia Technologies

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