IPTV Corporation Appoints Supercomputing Pioneer Dr. Steve Chen as a Member of
Its Board of Directors
LOS ANGELES and LONDON, Dec. 6, 2007 (PRIME NEWSWIRE) -- IPTV Corporation (Pink
Sheets:IPTV) ("IPTV" or the "Company"), has appointed world renowned
technologist Dr. Steve Chen as a member of its Board of Directors.
Dr. Chen is widely considered one of the leading system architects and
technologists in the United States having been described by the New York Times
as a "pioneer" and "visionary" as well as "one of the nation's most brilliant
supercomputer designers." Dr. Chen is best known as the Chief Architect of Cray
Research's Cray X-MP and Y-MP multiprocessor supercomputers which were the most
commercially successful parallel vector platforms ever released. The X-MP and
Y-MP accounted for more than 90% of Cray Research's worldwide supercomputer
installations and generated over $1 Billion in revenue.
"Dr. Steve Chen is a legendary technologist who brings tremendous insight and
experience to IPTV Corporation," commented Jeff Hultman, CEO of IPTV
Corporation. "We are honored to have his counsel as we work to create innovative
video commerce technologies for Internet Protocol Television."
"Internet Protocol Television is an emerging technology which will bring
tremendous opportunities not only in collaborative commerce, but also in
collaborative healthcare, education, entertainment, science and engineering
applications to maximize human creativity and productivity. My work during the
last 38 years in the high performance computing field will help accelerate this
technology into worldwide markets," commented Dr. Steve Chen.
After leaving Cray Research in 1987, Dr. Chen established his own supercomputing
company, Supercomputing Systems Inc, with backing from IBM. He later became the
Executive Vice President, Chief Technology Officer and a Board Member of Sequent
Computer Systems, which was later acquired by IBM. He has raised more than $250
million in corporate and private investment capital to fund his various
endeavors. Dr. Chen was the founder and CEO of Galactic Computing Inc., a
China-based developer of the world's first 128-blade High Productivity
Supercomputing Blade Systems for Information Utility Computing platforms. He is
currently the founder and Chief Scientist of Hcom Technology, where he is
focused on building high productivity grid supercomputers that deliver
pervasive, high-quality and cost-effective digital healthcare, education, media,
logistics, commerce, and financial services in China. Dr. Chen earned a B.S.
from National Taiwan University, an M.S. from Villanova University and a PhD
from the University of Illinois at Urbana-Champaign. Dr. Chen also holds
numerous patents in high-performance system design, packaging, parallel
architectures, compiler software and application algorithms development.
IPTV Corporation is an interactive television company based in Los Angeles that
is developing innovative video commerce technologies for use on wireless,
satellite and broadband-based Internet protocol television platforms. The
Company's UK based U-Save Network currently broadcasts to approximately 8.5
million homes on the British Sky Broadcasting satellite system. U-Save is the
first multi-play dynamic pricing television commerce platform in the world.
Additional information about IPTV Corporation can be found at www.iptvcorp.tv
Forward-Looking Statements
Certain statements in this release, and other written or oral statements made by
the Company, including the use of the words "expect," "anticipate," "estimate,"
"project," "forecast," "outlook," "target," "objective," "plan," "goal,"
"pursue," "on track," and similar expressions, are "forward-looking statements"
and are subject to known and unknown risks, uncertainties and other factors that
may cause actual results, performance, or achievements of the company to be
different from those expressed or implied. The Company assumes no obligation and
does not intend to update these forward-looking statements.
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CONTACT: SIG Consultants
Investors Contact
Doug Ward
(770) 814-7199
sigconsultants@aol.com
Chesapeake Group
Brokers and Analysts Contact
Kevin Holmes
(410) 825-3930
kmilas@chesapeakegp.com
IPTV Corporation
Investor Relations
(212)796-5855
ir@iptvcorp.tv
