WILTON, Conn., Sept. 4 /PRNewswire-FirstCall/ -- Startech Environmental
Corporation announced today that it has appointed Nicholas S. Perna, Kenneth
J. Slepicka, Douglas R. Ballew and Joseph A. Equale to the Board of Directors,
effective October 1, 2003, to fill the vacancies on the Board resulting from
the July 18, 2003 resignations of all members of the Board, other than Joseph
F. Longo. Since July 18, 2003 and until the appointment of the individuals
becomes effective on October 1, 2003, Mr. Longo has and will continue to serve
as the sole director of the Company. Messrs. Perna and Equale were appointed
in place of Messrs. Ciocca and Shipman, who notified the Company that they
would be unable to serve on the Board notwithstanding the disclosure made by
the Company in its Schedule 14f-1, as filed with the Securities Exchange
Commission on July 18, 2003.
Nicholas S. Perna, age 61, is the Chief Economist and Managing Director of
Perna Associates, which specializes in economic analysis, forecasting and
strategy. Until 1999, Mr. Perna was Chief Economist for Fleet Financial Group,
which position he previously held with Shawmut Bank and Connecticut National
Bank. Prior thereto, Mr. Perna was an economist with General Electric, the
Federal Reserve Bank of New York and the President's Counsel of Economic
Advisors in Washington. Mr. Perna has served on the faculties of Williams
College and New York University's Stern School of Business and is presently
teaching economics part-time at Yale University in New Haven, Connecticut.
Within the past year, Mr. Perna has appeared on the Jim Lehrer Newshour, CBS
Evening News, CNBC, NBC Nightly News, ABC Radio and NPR's All Things
Considered. Mr. Perna is frequently quoted in the national and regional press
and in January 2001, the Wall Street Journal cited him as one of the top
economic forecasters in the United States. Mr. Perna presently serves on the
Board of Directors of CIGNA Bank & Trust, a subsidiary of CIGNA Corp., where
he is Chairman of the Risk Management Committee. In addition, Mr. Perna is a
trustee of Mitchell College, a director of the Park Street Forum and an
incorporator of the Ridgefield Community Center and St. Francis Hospital. Mr.
Perna graduated magna cum laude from Boston College and has a Ph.D. in
economics from the Massachusetts Institute of Technology.
Kenneth J. Slepicka, age 47, is the Senior Portfolio Manager of Northshore
Asset Management, LLC and has held a variety of positions in the securities
industry for the past twenty years. From 1998 to 2002, he was a Managing
Director of River Capital Advisors, where he was responsible for the analysis
of Collateralized Debt Obligation (CDO) structures, as well as performing
credit analysis for investment grade corporate credits. From 1985 to 1998,
Mr. Slepicka held positions of President of SBC Futures Inc., (currently UBS
Futures Inc.) and was responsible for Exchange Traded Derivatives, was also an
Executive Director of SBC/O'Connor, responsible for trading and risk
management of the Fixed Income Derivative group, and was a Market Maker for
equity options. Mr. Slepicka has also performed risk management consulting
for institutional clients and has served on numerous committees at the Chicago
Board of Trade, the Chicago Mercantile Exchange and the Chicago Board of
Options. Mr. Slepicka served as Governor of the Board of Trade Clearing
Corporation and currently is a Director for Hyperfeed Technologies.
Mr. Slepicka received his MBA in finance from the J.L. Kellogg School of
Management at Northwestern University.
Douglas R. Ballew, age 39, is the Chief Financial Officer of Northshore
Asset Management, LLC, an investment management group located in Chicago,
Illinois with assets under management of over $200 million. Prior to joining
Northshore, he was Director of Finance for McCord Group, Inc. from 1998 to
2002 with revenue of $850 million. From 1990 to 1997, Mr. Ballew held a
variety of positions with AMSTED Industries with revenue of $1.2 billion.
Mr. Ballew has a broad range of experience in the manufacturing, finance and
service industries. Mr. Ballew is a graduate of Valparaiso University with a
B.S. in Accounting. He is a Certified Public Accountant in the state of
Illinois and Nebraska. He is also a member of the American Institute of
Certified Public Accountants and the Illinois CPA Society.
Joseph A. Equale, CPA, age 58, is the founder and Managing Partner of
Equale & Cirone, LLP (CPAs and advisors), which he founded with Mr. Cirone in
January 1999. Prior to the formation of the partnership, and beginning in
February 1994, Mr. Equale operated as a sole practitioner. Mr. Equale has
spent over ten years in other professional practice units, including a
predecessor firm of what is presently Deloitte & Touche LLP. In addition to
his responsibilities as Managing Partner, Mr. Equale is in charge of the
firm's quality control program. Mr. Equale has also spent over ten years in
private industry, including an assignment as an Assistant Controller of Xerox
Corporation. Mr. Equale is active in the accounting profession, where he
serves as President-Elect and member of the Board of Governors of the 6,500
member Connecticut Society of CPAs (CSCPA). Mr. Equale is also a member of
the American Institute of Certified Public Accountants and New York State
Society of Certified Public Accountants. Mr. Equale has served as an Adjunct
Assistant Professor of Accounting at Sacred Heart University, Graduate School
of Business in Fairfield, Connecticut. Mr. Equale received a B.A. in
accounting from St. John's University and an MDA in finance from the
University of Bridgeport.
More detailed information about Startech is set forth in Startech's
filings with the Commission, including Startech's Annual Report on Form 10-K
for the fiscal year ended October 31, 2002, and in other documents that
Startech has filed with the Commission. Investors and security holders are
urged to read those documents free of charge at the Commission's Web site at
http://www.sec.gov. Those documents may also be obtained free of charge from
Startech. Startech does not undertake to publicly update or revise its
forward-looking statements as a result of new information, future events or
otherwise.
Safe Harbor for Forward-Looking Statements:
This press release contains forward-looking statements, including
statements regarding the Company's plans and expectations regarding the
development and commercialization of its Plasma Converter(TM) technology. All
forward-looking statements are subject to risk and uncertainties that could
cause actual results to differ materially from those projected. Factors that
could cause such a difference include, without limitation, general risks
associated with product development, manufacturing, rapid technological change
and competition as well as other risks set forth in the Company's filings with
the Securities and Exchange Commission. The forward-looking statements
contained herein speak only as of the date of this press release. The Company
expressly disclaims any obligation or undertaking to release publicly any
updates or revisions to any such statement to reflect any change in the
Company's expectations or any change in events, conditions or circumstances on
which any such statement is based.
SOURCE Startech Environmental Corporation
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CONTACT:
Joseph F. Longo of Startech Environmental
Corporation, +1-203-762-2499, or fax, +1-203-761-0839,
starmail@startech.net
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