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Ben-Shachar Returning as Newlinenoosh CEO

Press release from the issuing company

REDWOOD CITY, CA, October 22, 2008 – NewlineNoosh, a leading provider of managed services and software for print, today announced that Ofer Ben-Shachar, founder and CEO of the NewlineNoosh predecessor company, Noosh, is returning as CEO.  Ben-Shachar founded Noosh in 1998, was CEO until 2002, and has served on its Board of Directors for the past ten years.  From 2002 until his recent appointment, Ben-Shachar has been an angel investor, financing and helping several successful startups.

Ben-Shachar assumes chief executive responsibilities from Peter Faucetta, Sr. who continues asNewlineNoosh Board Chairman. Faucetta and Ben-Shachar were instrumental in facilitating the merger of Noosh and Newline Management to form NewlineNoosh in 2005.

"I look forward to working with the great NewlineNoosh team to bring value to our many customers; continue our tradition of business process outsourcing and technology leadership; and, with our partners, achieve success as the premier print managed services for global enterprises. I want to thank Peter Faucetta, Sr. for his leadership since our merger and building such a strong market position for our company," stated Ben-Shachar.

Peter Faucetta, Sr. commented, "This is a natural step in the progression of NewlineNoosh. As Board Chairman, I look forward to spending more time on strategic issues and working with Ofer to take advantage of our many growth opportunities in a market where I have spent most of my professional career."  

Ben-Shachar is a recognized innovator in the growth of Internet based services. Under his leadership at Noosh, the company created a proven cross-enterprise collaboration technology that was deployed by some of the largest and most prominent companies in the world. It is the most widely used global technology to buy and manage print, with annual purchase transactions exceeding $800 million in the Americas, Europe, Asia and Africa.

As the founder of NetDynamics, a company acquired by Sun Microsystems in 1998, he presided over the development, launch and successful deployment at the most demanding enterprise customers, of the first Java-based application server product in 1996. This market would subsequently grow to over $6 billion in annual revenues.