Snapgear Announces New CEO

SALT LAKE CITY, Utah – March 7, 2002 – SnapGear announces the appointment of Rick Stevenson as CEO, effective immediately.

Prior to the appointment as CEO Mr Stevenson served as VP Engineering and CTO. Mr Stevenson joined Snapgear from Lineo Inc where he was VP for Integrated Products and manager of the Australian engineering operation. Previously Rick has held senior roles within companies such as IBM, Stallion, DASCOM and Pyramid Technology. Rick has been involved in the UNIX and Open Source communities for over 20 years.

Bob Waldie, the former CEO has stepped up to be Chairman. Waldie said: “Rick has my utmost confidence. I’ve seen SnapGear grow to become a major player in world markets. This step up allows me more time to focus on our strategic relationships.”

Despite a global downturn in technology markets SnapGear has seen rapid revenue growth stemming from large customers in the US and Europe who are in the telecommunications and silicon-chip manufacturing sectors. With partnerships with Motorola, Hitachi, and other Japanese and American giants the outlook is positive. SnapGear has an international reputation for expertise in embedded Linux and uClinux, a variant of Linux designed for embedded appliances as small as a wrist-watch.

Stevenson said: “It’s a pleasure to be handed the keys to a technology business that is thriving in the current difficult conditions. I’m looking forward to growing our operation and continuing to develop products that compete successfully on a world scale.”

Revenues for SnapGear stem from two lines of business: SnapGear branded VPN routers, sold through channels, and turn-key OEM solutions. OEM products have recently shipped for a number of organizations such as MP3.com, and government regulatory bodies in Australia.

A strong executive team is credited as a large contributor to SnapGear’s success with former senior employees of Nortel, IBM, British Telecom, Lineo, Red Hat, and even the military.

About SnapGear, Inc.

SnapGear manufactures the popular SnapGear VPN Routers along with SecureEdge custom design solutions and has provided turnkey development, design, and manufacturing, fulfillment services for major telecommunications companies and silicon manufacturers. Recent projects include a sport/racing control terminal for TAB Queensland, an advanced VPN gateway router for a major US telecommunications company, and a network access point connecting petrol bowsers to the Internet. For more information on SnapGear please visit http://www.snapgear.com. For more information on SecureEdge reference designs, development platforms and services please visit http://www.secureedge.net

SnapGear and SecureEdge are registered trademarks of SnapGear Inc. Linux is a registered trademark owned by Linus Torvalds. All other products, services, companies and publications are trademarks or registered trademarks of their respective owners.




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