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CRAIG WIRELESS SYSTEMS LTD. APPOINTS NEW INDEPENDENT DIRECTOR

^{Published on 2011-05-03 11:35:51 - Market Wire}
 

RANCHO MIRAGE, CA, May 3 /CNW/ - Craig Wireless Systems Ltd. ("Craig Wireless" or the "Corporation") (TSX: CWG), is pleased to announce that its board of directors (the "Board") has determined to appoint Mr. Donnie Moore as an additional independent director, effective as of May 3, 2011 to hold office until the next annual meeting of shareholders of the Corporation. Mr. Moore has also been appointed as a member of the audit committee of the Board, replacing Mr. Barry Reiter. Mr. Reiter remains as an independent director of the Corporation and chairman of the compensation, corporate governance and nomination committee of the Board.

Mr. Donnie Moore was senior vice president, finance and administration and chief financial officer for Cognos Incorporated in Ottawa, Ontario, Canada from 1986 until his retirement in 2001. He had responsibilities for legal affairs and government relations and financial and administrative operations worldwide. He has more than 30 years of financial and administrative expertise in information technology and related industries. Before joining Cognos, Mr. Moore was corporate director, plans and analysis at the world headquarters of the Burroughs Corporation in Detroit, Michigan. Prior to that, he held positions as CFO of Burroughs Canada in Toronto, Ontario, Canada and Burroughs Limited in Wellington, New Zealand. Mr. Moore holds a Bachelor of Science degree in engineering (computer science) from the University of Oklahoma and an MBA in finance from the University of Houston.

"We are extremely pleased that Mr. Moore has agreed to join the board of directors of Craig Wireless. His experience, knowledge and expertise bring a tremendous additional resource to the Corporation," stated Drew Craig, Chairman of the Board of Craig Wireless.

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.