William P. McHale, Jr. Elected
Chairman of DSET Board
Bridgewater, NJ - June 7, 2000 - (NASDAQ: DSET) - DSET Corporation,
a leading supplier of business-to-business e-commerce connectivity
solutions for the telecom industry, announced today that William
P. McHale, Jr., DSET's president and chief executive officer,
has been elected chairman of the DSET Board of Directors.
McHale, who will continue as president and CEO, was elected
to his new position at the Board meeting held in conjunction
with DSET's annual meeting on May 24.
McHale replaces S. Daniel Shia, the founder of DSET Corporation,
who did not stand for reelection to the Board of Directors.
Shia's many years of involvement with leading-edge telecommunications
technology led him to found DSET in 1989, where he has served
as president, chief executive officer, and chief technology
officer in addition to chairman of the Board. His innovative
concept for an object-oriented, distributed communications
framework became the first offering in DSET's successful line
of products now used in the telecom industry worldwide.
McHale is a graduate of Villanova University, where he received
his Bachelor of Science degree in business administration
in 1971. He subsequently spent four years in the U.S. Navy,
achieving the rank of lieutenant and is a Vietnam veteran.
McHale joined IBM in 1975 and is now a 25-year veteran of
the computer industry. After four years at IBM, where he was
a salesman and corporate marketing specialist, McHale joined
Wang Laboratories, where he had responsibility for a significant
portion of the North American sales force and eventually worldwide
marketing. He joined Digital Equipment Corporation in early
1987, holding senior staff positions before managing a sales
organization that had over one billion dollars of revenue
responsibility.
From 1990 through 1996, McHale was the president and CEO
of three different software and services companies that focused
on developing and marketing application development tools
to Fortune 500 companies.
McHale joined DSET in January 1997. Since then, the company
has successfully completed an initial public offering of its
stock and has grown from $13 million in revenue in 1996 to
more than $44 million for 1999.
Commenting on his predecessor's departure from the DSET Board,
McHale said, "Dan Shia accomplished what many other entrepreneurs
only dream about. He founded a company based on his belief
that he could create software which would solve very complex
problems for the telecommunications industry. And he did it
by raising money only from angel investors. Dan's focus on
technology and the drive to run a profitable company put DSET
on track for its twenty-eighth consecutive profitable quarter.
We congratulate Dan and pass along a heartfelt 'thank you'
as he resigns from the Board of Directors."
About DSET:
DSET Corporation is a leading provider of business-to-business
e-commerce connectivity solutions for the global telecommunications
marketplace. The DSET suite of electronic-bonding gateways
is designed to interconnect the operations support systems
(OSSs) of service providers that must exchange information
and share network capabilities with trading partners to provision
and maintain a growing range of services for customers in
the competitive telecom market. DSET's local number portability
solutions play a key role in enabling business and residential
customers to change service providers without changing their
local phone numbers. DSET is headquartered in Bridgewater,
New Jersey, and the company's Web site can be viewed at www.dset.com.
Statements regarding financial matters contained in this
press release, other than historical facts, are forward-looking.
Since all statements about DSET's plans, estimates, and expectations
are based on current projections that involve risks and uncertainties,
and are subject to change at any time, the company's actual
results may differ materially from expected results. Investors
should consider these risks and uncertainties, which are discussed
in documents filed by DSET with the Securities and Exchange
Commission. These documents identify important factors that
could cause the actual results to differ materially from those
contained in the projections or forward-looking statements.
DSET expressly disclaims any obligation to update any forward-looking
statements.
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DSET Contacts:
Media Relations: Dean Maskevich, Marketing Communications,
908-526-7500 Ext. 1366, e-mail: dmaskevi@dset.com
Investor Relations: John P. Murphy, Westfield Investor Relations,
908-233-1558, e-mail: westfieldir@worldnet.att.net
DSET and the DSET logo are registered trademarks of DSET
Corporation.
All other trademarks are the property of their respective
owners.
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