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Conversion Services International Announces Results of Annual Meeting
EAST HANOVER, N.J. (August 8, 2006) - Conversion Services International, Inc. (AMEX: CVN), a premier professional services firm focused on delivering the value in business intelligence, data warehousing and data management solutions to Global 2000 organizations and other businesses, today announced the results of its annual meeting of stockholders, held on August 7, 2006, in East Hanover, New Jersey. At the meeting, the common stockholders reelected Scott Newman, Glenn Peipert, Lawrence K. Reisman and Joseph Santiso as directors, and elected three new directors: Robert C. DeLeeuw, Frederick Lester and Thomas Pear.
Robert C. DeLeeuw has been the Company's senior vice president of strategic consulting and president of its wholly owned subsidiary, DeLeeuw Associates, LLC, since March 2004, and is the Company's third largest stockholder. Mr. DeLeeuw founded DeLeeuw Associates, LLC, formerly known as DeLeeuw Associates, Inc., in 1991. Mr. DeLeeuw has more than 25 years experience in banking and consulting. During this time, he has managed and supported some of the largest merger projects in the history of the financial services industry and has implemented numerous large-scale business and process change programs for his clients. He has been published in American Banker, Mortgage Banking Magazine, The Journal of Consumer Lending and Bank Technology News where he has also served as a member of the Editorial Advisory Board. Mr. DeLeeuw received his bachelors degree from Rider University in 1979 and received a masters degree in management from Stevens Institute of Technology in 1986.
Frederick Lester is the regional consulting partner of NE Banking & Capital Markets, Teradata Corporation. From 2005-2006, Mr. Lester was the consulting director at Cognos Corporation, and from 1999-2005, he was the managing director at Competitive Advantage, Inc. Prior to this, Mr. Lester served as consulting director for KPMG and managing partner at Teradata. Mr. Lester's undergraduate studies at Columbia University focused on nuclear physics and mathematics.
Thomas Pear is a principal in Saw Mill Sports Management and a management consultant. From 1993 to 2006, Mr. Pear served as chief financial officer of The Atlantic Club, and served as its president from 2002 to 2006. Prior to this, Mr. Pear served as vice president and general manager of DM Engineering, vice president and chief financial officer of Tennis Equities, and staff accountant at Malkin, Studley and Ramey CPA, PC. Mr. Pear holds a bachelor's degree in accounting from Nichols College in 1974.
All directors shall hold office until their successors have been duly elected and qualified. The common stockholders also ratified the appointment of Friedman LLP as independent auditors for the fiscal year ending December 31, 2006. In addition the common stockholders authorized an amendment to the Certificate of Incorporation to increase the amount of the Company's authorized common stock from 85,000,000 to 100,000,000; and authorized an amendment to the 2003 Incentive Plan to increase the number of stock options reserved for issuance 6,666,667 to 10,000,000.
About Conversion Services International, Inc.
A Note on Forward-Looking Statements
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