EXA Appoints Jim Vernon as President
November 03 2003 - 10:50AM
PR Newswire (US)
EXA Appoints Jim Vernon as President DEERFIELD BEACH, Fla., Nov. 3
/PRNewswire-FirstCall/ -- EXA, Inc. (OTC Pink Sheets: EXAI)
announced today the appointment of James C. Vernon as president,
succeeding Stanley Priskie who will continue as Chairman of the
Board. EXA, Inc., a publicly traded company, has primarily focused
on travel industry products for travel agencies and home-based
operations. These products include software programs and travel
club packages and rewards. The company began focus on Cruise
Timeshares in 2001. James C. Vernon was founder and president of
Travel Professionals International, Inc., of Louisville, Kentucky,
a national travel agency franchise with sales of $250 million. He
sold the company in 1999. Prior to founding TPI, Mr. Vernon owned
and operated Vernon Broadcasting Company, two radio stations in
Kentucky. He was appointed Commissioner of Tourism and Public
Information for the state of Kentucky in 1976. The position was
responsible for domestic and international tourism development for
the state and all news dissemination for Kentucky state government.
His tenure as Commissioner was underscored when Kentucky tourism
reached the billion-dollar level, making it the state's
fastest-growing industry. Part of that development included his
opening of an international tourism office in Brussels, Belgium,
the first state to do so. Stanley Priskie welcomed Mr. Vernon on
board and remarked to the Board, "Mr. Vernon adds a new and dynamic
dimension to EXA." Mr. Priskie continued, "We [the Board] have been
searching for someone of Jim Vernon's talent and expertise for the
past two years. We, along with certain shareholders, who have been
involved in bringing Mr. Vernon on to the management team, are
confident that we will see some very positive changes in the short
term." Mr. Vernon said, "We have a bright future to look forward
to. Over the next five years, I intend to use my efforts assisting
in the arrangement for sufficient working capital to purchase one
or more cruise ships to accelerate our Cruiseshares(TM) program. To
that end, I am recommending a Private Placement Offer to raise $6
million with the issuance of 500 three year Interest and Income
Participation Debentures. I believe the offer will give investors a
rate of return not readily available in today's business climate.
Vernon continued, "I'm a strong believer in strategic alliances and
to that end we will seek out companies that either complement or
move in parallel directions to EXA to either acquire, merge or
joint market. This will be a priority. I also intend to build a
strong in-house managerial team so that we can promote from within.
Stanley Priskie, along with his staff, have laid a great foundation
for the first ever cruise timeshare product. Now we want to add
some complementary entities to the timeshare development and move
forward in timely fashion. It is time to make EXA financially
strong and benefit its shareholders who have been so loyal through
the years." Statements in this release are made pursuant to the
"Safe Harbor" provisions of the Private Securities Litigation
reform Act of 1995. Investors are cautioned that like
forward-looking statements, certain risks and uncertainties are
involved, including without limitation, continued acceptance of the
company's services, increased levels of competition for the company
and dependence on the performance of the management of the company.
DATASOURCE: EXA, Inc. CONTACT: Steven Priskie, +1-954-725-5570, or
, or James C. Vernon, +1-561-499-2671, or , both of EXA, Inc.
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