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CRAIG WIRELESS APPOINTS INTERIM CHIEF FINANCIAL OFFICER

^{Published on 2011-02-07 16:25:17 - Market Wire}
 

RANCHO MIRAGE, CA, Feb. 7 /CNW/ - Craig Wireless Systems Ltd. ("Craig Wireless" or the "Company") (TSX: CWG), is pleased to announce that it has appointed Mr. Murray Bamforth as its Interim Chief Financial Officer, effective immediately.

Mr. Bamforth replaces Mr. Wesley Thiessen, the Company's current Chief Financial Officer, who, as earlier announced, will be leaving Craig Wireless effective February 28, 2011 in order to pursue other career opportunities. Mr. Bamforth has been engaged on an interim basis while the Company continues its search for a permanent replacement CFO.

A Chartered Accountant, Mr. Bamforth is an accomplished finance executive with over 30 years of experience as a senior financial executive, CFO and external auditor.

Mr. T. Boyd Craig, the President and Chief Executive Officer of Craig Wireless said, "I am pleased to have someone with Mr. Bamforth's knowledge and experience joining our team during this transitional period."

Previously Mr. Bamforth held various senior positions with Manitoba Telecom Services Inc., Bell West Inc. and Allstream Inc., including Chief Corporate Officer, Chief Transition Officer, Corporate Controller, CFO and Internal Audit & Risk Management. Mr. Bamforth is currently the President of his own management consulting practice specializing in business planning, processes, transformation and financial reporting, having recent engagements with both large and small public companies. Mr. Bamforth was also previously an external audit manager for several years with Touche Ross & Co. (now Deloitte & Touche).

About Craig Wireless Systems Ltd.:

Craig Wireless and its affiliates (collectively, the "CWS Group") offer a broad range of telecommunications services, including, broadband internet access, business connectivity solutions, hosting, security and telecommunications solutions. Through certain members of the CWS Group, Craig Wireless holds or leases licenses for spectrum in the 2.5 GHz, 2.6 GHz or 3.5 GHz bands in Riverside County in Southern California, United States and in Greece. The CWS Group also has spectrum interests in Norway and New Zealand. Spectrum in these ranges is effective for delivery of point-to-multipoint signals, possesses robust bandwidth capability and supports emerging 4G-based applications, including portable and mobile applications.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

Notice on forward-looking statements
This release includes forward-looking statements regarding Craig Wireless and its business. Such statements are based on management's current expectations. The forward looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Craig Wireless and its business. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Craig Wireless does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.