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Press ReleaseFileTek Announces Appointment of New Executive Leadership - William P. Loomis and Philip A. Pascarelli to Lead Next Phase of Corporate Strategy Rockville, MD, May 3, 2007 - FileTek, Inc., a premier provider of robust data access and information management software, today announced the appointments of William P. Loomis to the position of CEO and Philip A. Pascarelli to the role of President. Founder and prior CEO William C. Thompson will continue to serve as Chairman of the Board for FileTek. The appointments of this new executive team signify the beginning of a new era in FileTek's corporate history. As CEO, Mr. Loomis will be responsible for the overall business strategy, corporate operations, financial management, and legal affairs of FileTek. Mr. Loomis has over 25 years' experience in high technology finance, management, and administration. He joined FileTek in 1987 and has been a member of FileTek's Board of Directors since June 2003 as well as FileTek's CFO since July 1990. Prior to his appointment as CEO, he had been FileTek's COO since January 2001. He has also been EVP and CFO of Centennial Computer Corporation, a sister company focused on providing specialized financial services, as well as CFO and a member of the Board of Directors of Clearview Software, a sister company specializing in Enterprise Content Management solutions. Prior to joining Centennial, Bill was with the public accounting firm of Ernst and Young. Mr. Pascarelli's responsibilities as President of FileTek include general management of the company and oversight of FileTek's indirect and channel sales efforts both domestically and internationally. In addition, Mr. Pascarelli is in charge of formulating new corporate initiatives through the development of strategic partnerships, targeted acquisitions, and assessing new business opportunities. Currently Mr. Pascarelli serves as President and member of the Board of Directors of Clearview Software. Prior to joining Clearview, Phil served as CEO and President of Breece Hill as well as Maxoptix Corporation. Mr. Pascarelli has also served as a Board Member for TREEV, an integrated document management software company focused on the financial services market, and was instrumental in the successful negotiations for the purchase of the company from its parent, Ceyoniq. "I have a strong sense of security as well as great expectations for FileTek's future as Mr. Loomis and Mr. Pascarelli assume the executive leadership of the Company," stated William C. Thompson, Chairman and Founder of FileTek. "Bill and Phil possess strong, proven track records of executive leadership and sound business vision that will undoubtedly guide FileTek to new levels of customer solution delivery combined with successful corporate performance." The executive appointments announced today are effective immediately. About FileTek ©2007 FileTek.
All rights reserved. FileTek and StorHouse are U.S. registered trademarks
of FileTek, Inc. Other trademarks included herein are the properties of
their respective owners. The following U.S. patents protect StorHouse:
4,864,572; 5,247,660; 5,727,197; 6,049,804.
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