Netlist Promotes Gail Itow to Chief Financial Officer

IRVINE, Calif., Jan. 4 /PRNewswire-FirstCall/ -- Netlist, Inc.
(Nasdaq: NLST) today announced that Vice President of Finance Gail Itow has
been promoted to Chief Financial Officer effective January 1. An experienced
senior financial executive with an extensive international background, Itow
reports to Chief Executive Officer Chuck Hong and replaces former Chief
Financial Officer Nita Moritz, who has left the Company.
Itow, 51, a resident of Tustin, CA, joined Netlist in January 2006 as Vice
President of Finance and was responsible for management of all accounting
functions, including internal and external reporting, Sarbanes-Oxley
compliance, financial forecasting, corporate governance, bank relations, and
treasury. She was involved in the Company's November 2006 initial public
offering that raised approximately $40 million and in 2007 was involved in
investing a portion of those proceeds in the new manufacturing facility in
Suzhou, China. Itow also negotiated the Company's $40 million line of credit
with Wells Fargo Bank and assisted with managing the Company's Human
Resources, Information Technology and Law departments/functions.
Hong stated: "We are pleased to promote Gail to this position and welcome
her to our executive management team. With her background in the technology
industry both domestically and internationally, past experience with corporate
financial transactions, capabilities in managing multiple functions in
addition to finance, and direct in-house experience for the past two years,
Gail will be making valuable contributions to achieving our near- and
long-term operational and financial plans as we enter 2008."
Itow's prior professional background and experience include
responsibilities as Chief Financial Officer of eMaiMai, Inc., a commercial
technology company based in Hong Kong and Mainland China. She worked closely
with the board of directors and principal investors during the company's
start-up and a private placement with Lehman Brothers Hong Kong. Itow also
managed eMaiMai's worldwide Human Resources, Accounting and technical teams.
Prior to eMaiMai, Itow was Senior Vice President of Finance, Secretary and
Treasurer of eMotion, Inc., formerly Cinebase Software, a Vienna, VA-based
developer of business-to-business media management software and services.
While at eMotion, she managed and negotiated several public and private
financings, acquisitions and the company's eventual merger with a wholly owned
subsidiary of Eastman Kodak. In addition to responsibilities in Finance, Itow
managed all aspects of Human Resources, corporate Information Technology and
Accounting.
Itow was also Chief Financial Officer of MicroNet Technology, Inc., an
Irvine-based leader in storage technology. While at MicroNet, she facilitated
the company's sales growth and expansion in the U.S., Japan and Europe. She
also managed MicroNet's worldwide Human Resources, Operations, corporate
Information Technology and Accounting functions.
Itow was also Audit Manager for Ernst and Young (formerly known as Arthur
Young) in Century City, CA. She earned a Bachelor's degree from the
University of California, Los Angeles, where she graduated Magna cum Laude and
was a Chancellor's Marshall. She earned a Master of Business Administration
degree from the University of Southern California.
About Netlist, Inc.
Netlist designs and manufactures high-performance memory subsystems for
the server and high-performance computing and communications markets. The
Company's memory subsystems are developed for applications in which
high-speed, high-capacity memory, functionality, small form factor, and heat
dissipation are key requirements. These applications include tower-servers,
rack-mounted servers, blade servers, high-performance computing clusters,
engineering workstations, and telecommunication equipment. Netlist maintains
its headquarters in Irvine, California with manufacturing facilities in Irvine
and in Suzhou, China.
Safe Harbor Statement
This news release contains forward-looking statements regarding future
events and the future performance of Netlist, including future opportunities
and growth for the company's business. These forward-looking statements
involve risks and uncertainties that could cause actual results to differ
materially from those expected or projected. These risks and uncertainties
include, but are not limited to, the rapidly-changing nature of technology;
volatility in the pricing of DRAM ICs; uncertainty of customer demand,
including delays in expected qualifications; introductions of new products by
competitors; changes in end-user demand for technology solutions; the
Company's ability to attract and retain skilled personnel; the Company's
reliance on suppliers of critical components; evolving industry standards; and
the political and regulatory environment in the People's Republic of China.
Other risks and uncertainties are described in the Company's annual report on
Form 10-K, dated February 28, 2007, quarterly report on Form 10-Q dated
November 6, 2007, and subsequent filings with the U.S. Securities and Exchange
Commission made by the Company from time to time. Netlist undertakes no
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Contact: Allen & Caron Inc. Netlist, Inc.
Jill Bertotti (investors) Chuck Hong
jill@allencaron.com Chief Executive Officer
Len Hall (media) (949) 435-0025
len@allencaron.com
(949) 474-4300

SOURCE Netlist, Inc.

Investors, Jill Bertotti, or Media, Len Hall, len@allencaron.com, both of
Allen & Caron Inc., +1-949-474-4300, for Netlist, Inc.; or Chuck Hong, Chief
Executive Officer of Netlist, Inc., +1-949-435-0025