Inc. Announces William H. Millard to Serve as a Director of the Company

Writer: ACUBID
Updated: 27.04.2000 00:00
CARLSBAD, Calif.–(BUSINESS WIRE)–April 26, 2000– Inc. (AcuBid) (OTCBB:EBID) Wednesday announced that William H. Millard, of Singapore, has agreed to serve as a director of the company, subject to shareholder approval at the next Annual Meeting of Shareholders.

Millard is an entrepreneur, investor, and early pioneer of the personal computer industry. He was the founder and former chairman (1976-1985) of ComputerLand Corp., which was, during his chairmanship, the largest retailer of personal computers in the world.

With the addition of Millard, the proposed board of directors, which is subject to shareholder approval at the next Annual Meeting, consists of the following members:

Tjahjono Soerjodibroto is currently the president commissioner of PT Tunas Sepadan Investama, an Indonesian holding company which specializes in corporate restructuring and asset disposal, and of PT Yasawirya Cipta, a multi-media production company based in Jakarta, Indonesia. Tjahjono Soerjodibroto, previously president of PT. Indosat, an Indonesian telecommunications company listed on the New York Stock Exchange and the Jakarta Stock Exchange, will bring tremendous experience to the company. He is well versed in the telecommunication business and is well respected in the international business community. Tjahjono Soerjodibroto has agreed to become chairman of the board of AcuBid, subject to shareholder approval at the Annual Meeting and consummation of the proposed acquisition by AcuBid of 90% of the issued and outstanding stock of Jaring Data Interaktif (the “Acquisition”).

Bosko Djordjevic is a private investor and a founder and director of LIPID Sciences Inc., a medical technology company based in Los Angeles.

Terry M. Giles is a prominent United States lawyer and an international businessman, who has built a variety of businesses. He is the 1994 Inductee into the Horatio Alger Association of Distinguished Americans and sits on a number of corporate boards.

Gordon C. Holterman is president of San Francisco Sentry Relative Advisors, part of the San Francisco Sentry Investment Group. Holterman was previously a director of Swiss Bank Corp., where he managed the West Coast Capital Markets effort, and a former attorney in the Mergers and Acquisitions Group at Skadden, Arps, Slate, Meagher & Flom.

Michael A. Schaffer is a current director and the chief executive officer of AcuBid. Schaffer is also a former attorney and private investor.

R. Raj Singam is the senior partner of Drew and Napier of Singapore, where he specializes in trial and appellate litigation. Singam is also a director of United Pulp and Paper and of ABR Ltd. and a member of several other prominent boards and associations, including the International Bar Association and the Singapore Institute of Directors.

Waddy E. Stephenson is a current director and the chief technology officer of AcuBid. Stephenson has been a software developer for 15 years and, since 1986, has worked on Internet-based applications for both commercial and governmental agencies.

Messrs. Millard, Soerjodibroto, Djordjevic, Giles, Holterman and Singam are being nominated for election as directors pursuant to the Amended and Restated Stock Purchase Agreement, dated as of March 24, 2000, which sets forth the terms of the acquisition, and will only serve on AcuBid’s board of directors if the acquisition is consummated.

Note: Certain statements in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the combined companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.


Lawrence Schaffer, 760/804-0023

Posted in Press Release.