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NUR Macroprinters Appoints Two New External Board Members

Wednesday, November 19, 2003

Press release from the issuing company

LOD, Israel, Nov. 18 -- NUR Macroprinters, a leading supplier of wide-format inkjet production printing systems for the out-of-home advertising market, today announced at its annual shareholder meeting that shareholders approved the appointment of Mr. Koby Shtairman and Ms. Laurie Hanover as external board of directors members. They succeed current external board members, Mr. Gidon Schenholtz and Ms. Orit Leitman, whose three-year periods are ending. Koby Shtaierman currently is Vice President, Sales and Marketing, at Advanced Vision Technology Ltd. From 1996 to 1998, he served as Vice President, Corporate Marketing, for Tecnomatix Technologies Ltd. From 1985 to 1995, Mr. Shtaierman served as Marketing Director, Input System Division, of Scitex Corporation. Previously, he held numerous positions with Israel Aircraft Industries. Mr. Shtaierman holds B.Sc. and M.Sc. degrees in Electronics and Computer Engineering from the Technion in Haifa. Laurie Hanover has served as Corporate Vice President and Chief Financial Officer of NICE Systems Ltd. since December 2000. From 1997 to 2000, she was Executive Vice President and Chief Financial Officer of Sapiens International Corporation N.V. Previously, Ms. Hanover worked at Scitex Corporation Ltd in a variety of financial management positions, including Corporate Controller, and as a financial analyst at Philip Morris Inc. (Altria). Ms. Hanover holds a Bachelor's degree in finance from the Wharton School of Business and a Bachelor-of-Arts degree from the College of Arts and Sciences, both from the University of Pennsylvania. In addition, she holds a Master's degree in Business Administration from New York University. Ms Hanover has served on the Board of Directors of Nova Measuring Instruments Ltd. since 2000. Commenting on the appointments, Dan Purjes, Chairman of the Board of Directors, stated, "We are honored that these distinguished individuals, each with such long and successful careers in the high-tech industry, have joined our Board of Directors. Together, they bring NUR a wealth of global marketing, financial knowledge and contacts, and extensive managerial experience. We believe their advice and understanding will prove invaluable as we pursue the full global potential of NUR's exceptional products. I want to thank Mr. Gidon Schenholtz and Ms. Orit Leitman for their contribution over the past three years." NUR Macroprinters further announced shareholders approval of the successful completion of a $3.3 million stand-by loan financing commitment by accredited U.S. investors. The investors received a commitment fee and were granted warrants for putting up the loan commitment and the option of converting it into equity. Mr. Dan Purjes, Chairman of the Board and a major shareholder participated in this stand-by loan in the amount of $1.25 million. The Company may draw down the loan as needed subject to certain provisions. To date, the Company has not drawn any amounts against the loan.

 

 

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