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Delphax Technolgies Names Chief Financial Officer

Friday, July 30, 2004

Press release from the issuing company

MINNEAPOLIS, July 29 -- Delphax Technologies Inc. today announced the appointment of Jeffrey S. Mathiesen as vice president and chief financial officer. Mathiesen, who has more than 15 years of senior-level financial management experience with technology-based corporations, most recently headed The Mathiesen Group, Inc., a provider of management and financial consulting services. From 1996 to 2003, he held positions of vice president and chief financial officer and then vice president of business development at Micro Component Technology, Inc., St. Paul, Minn., supplier of automation equipment and software for the semiconductor industry. "We are very pleased to have concluded our extensive search for a proven chief financial officer with the hiring of an executive of Jeff Mathiesen's caliber," said Jay Herman, chairman and chief executive officer of Delphax Technologies. "Jeff brings to us a combination of experience and intellect well-suited to our mission of building a position as a mainstream competitor in the commercial printing marketplace." Before joining Micro Component Technology, Mathiesen was vice president and chief financial officer of Recovery Engineering Inc., Minneapolis, serving with that company from 1991 to 1996. Mathiesen began his business career with Deloitte & Touche LLP in Minneapolis. He is a summa cum laude graduate of the University of South Dakota, with a degree in accounting. He is a certified public accountant.




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