NEWS
ANNOUNCEMENT
|
SYS
Contact:
Edward
M. Lake
Chief
Financial Officer
858-715-5500
Email:
investmentinfo@systechnologies.com
|
Investor
Contact:
Christiane
Pelz
Lippert/Heilshorn
& Associates
415-433-3777
Email:
cpelz@lhai.com
|
SYS
TECHNOLOGIES ANNOUNCES CHANGE IN BOARD OF DIRECTORS AND FILING OF ANNUAL
PROXY
STATEMENT
SAN
DIEGO, CA – Oct. 30, 2007
– SYS Technologies, Inc. (“SYS”) (AMEX: SYS),
a leading provider of information connectivity solutions that enable situational
awareness and real-time collaboration, announced David A. Derby, chairman,
has
elected not to continue as a board member for the next fiscal year and resign
effective immediately. General Al Gray, USMC (Ret.), vice-chairman, will
act as
chairman until the Annual Meeting of stockholders on December 7,
2007.
Cliff
Cooke, CEO of SYS said, “We thank Dave for his counsel, and we wish him the best
in the future. Al has been an active board member since
2003. We appreciate his stepping forward to lead the board at this
time.”
A
member
of the board since 2001 and chairman since 2003, Derby indicated he could
no
longer serve the shareholders to the degree he would like and felt it best
not
to continue. The company also announced it filed its annual proxy
statement, wherein stockholders will vote on seven directors for the next
term.
In
1991,
General Gray retired from the U.S. Marine Corps after 41 years of service.
From
1987 to 1991, General Gray served as a member of the Joint Chiefs of Staff
and
was the 29th Commandant of the Marine Corps. He served as military advisor
to
Presidents Reagan and Bush, Sr., the National Security Council and the Secretary
of Defense. He is the recipient of numerous American and foreign military
awards. General Gray holds a B.S. from the State University of New York.
He also
attended Lafayette College, the Marine Corps Command and Staff College, Army
War
College and did graduate work at Syracuse University. General Gray is the
recipient of honorary doctoral degrees from Norwich, Monmouth, Lafayette,
and
Franklin Universities and Defense Intelligence College. He is currently a
Senior
Fellow at the Potomac Institute and Chairman of the Board of
Regents.
About
SYS Technologies
SYS
(AMEX: SYS), is a leading provider of information connectivity solutions
that
capture, analyze and present real-time information to its customers in the
Department of Defense, Department of Homeland Security, other government
agencies and to commercial companies. Using interoperable communications
software, sensors, digital video broadcast and surveillance technologies,
wireless networks, network management, decision-support tools and Net-centric
technologies, SYS technical experts enhance complex decision-making. The
company
also provides solution lifecycle support with program, financial, test and
logistical services and training. Founded in 1966, SYS is headquartered in
San
Diego and has principal offices in California and Virginia. For additional
information, visit
www.systechnologies.com
.
Notice
Regarding Forward-Looking Statements
This
press release includes “forward-looking statements” within the meaning of
section 27A of the Securities Act of 1933, as amended, and Section 21E of
the
Securities Exchange Act of 1934, as amended. All statements other than
statements of historical fact included in this press release regarding the
Company’s strategies, plans, objectives, expectations, and future operating
results are forward-looking statements. Although SYS believes that the
expectations reflected in such forward-looking statements are reasonable
at this
time, it can give no assurance that such expectations will prove to have
been
correct. Actual results could differ materially based upon a number of factors
including, but not limited to, the state of economy, competition, unanticipated
business opportunities, availability of financing, market acceptance, government
regulation, dependence on key personnel, limited public markets and liquidity,
shares eligible for future sale, continuation and renewal of contracts and
other
risks that may apply to the Company, including risks that are disclosed in
the
Company’s Securities and Exchange Commission
filings.