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TechBooks Names Top Industry Executive to Board of Directors

Friday, August 24, 2001

Press release from the issuing company

Fairfax, Va., August 24, 2001 -- TechBooks has enhanced the depth and experience of its Board of Directors with the addition of Craig Richards, former president and CEO of Baker & Taylor, the wholesale distributor of books, videos and music compact discs. "Craig's distinguished management experience and proven business instincts strengthen our board significantly," said Rakesh Gupta, TechBooks chairman and co-founder. "His seasoned perspective will be a strategic asset in our efforts to grow the company and solidify our position as an industry leader." A recognized pioneer in XML publishing and print conversion solutions, TechBooks has an established track record of introducing innovative electronic publishing solutions. It was among the first to offer front-end XML publishing solutions that simultaneously produce content for print and electronic formats. Commenting on his appointment to the board, Richards said, "My business experience will allow me to contribute to the continued success of TechBooks. This company is very forward-thinking; it is focused on tackling new markets and developing innovative new technologies, while always providing first-class customer service. An experienced board of directors can help such a company formulate strategies that are essential for long-term success." As president and CEO of Baker & Taylor, Richards was responsible for overall operations and strategic direction. During his leadership, Baker & Taylor revenues grew from $795 million fiscal 1994 to $1.1 billion in fiscal 2000--despite the closing of a $100-million software division. Richards also guided the formation of an electronic commerce subsidiary and positioned Baker & Taylor to take advantage of the emergence of the electronic book.




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