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Incentra Solutions Names Shawn O'Grady President and Chief Operating OfficerOctober 18, 2005 Boulder, CO, October 18, 2005 – Incentra Solutions Inc. (OTCBB: ICNS) announced today that it has named veteran technology executive Shawn O’Grady to the newly created position of President and Chief Operating Officer. O’Grady brings over 20 years of operations and sales executive management experience to the job, and was most recently at Siemens Business Services. As President and Chief Operating Officer, O’Grady will report to Chairman and CEO Thomas P. Sweeney and will initially be principally responsible for the sales and operations of the global enterprise solutions division.
“After a thorough search, we are thrilled to bring Shawn on board to run our day-to-day operations for the enterprise solutions division,” commented Sweeney. “The enterprise group represents almost 80 percent of the Company’s revenues and has been growing at more than 20 percent. In order to manage that growth and continue the expansion nationally, we needed an experienced executive to take the Company to the next level. Shawn has a strong track record of growing successful solutions teams selling both products and services to the enterprise markets and understands the complete solutions approach. Shawn has successfully defined and implemented professional and managed services portfolios and has also successfully integrated operations. We are looking forward to Shawn’s focus and positive contribution to the Company and our enterprise sales and operations teams.” O’Grady, 42, has been a senior vice president for Siemens Business Services, the $5 billion IT Services Division within Siemens AG, for the last eight years. He has served a variety of functions within that timeframe, most recently as head of the Consulting and Integration business unit for North America. Previously, he served as head of Business Development, and has also served in a variety of regional general management functions. He has a track record of success in strategy, portfolio, sales and service delivery as well as in organizational and process improvement. O’Grady came to Siemens through its acquisition of Entex Information Services where he had been a senior executive since its founding in 1993. Prior to Siemens, O’Grady held executive positions with Intelogic Trace, Inc. and NBI, Inc. “Incentra’s complete solutions approach is what the market is demanding; customers need more than just products,” stated O’Grady. “The challenges of designing and operating large storage systems has never been greater, and Incentra’s proven experience in operating complex, heterogeneous environments is what separates it from the competition. Incentra’s unique ability to improve a company’s IT operations, reduce monthly operating expense and reduce capital expenditures positions it for significant growth. Incentra has a strong team and I look forward to participating in the Company’s growth.” O’Grady holds a degree in electrical engineering from the University of California, Irvine.
The executive search was conducted by New York City-based Christian & Timbers, a premier-quality executive search firm. About Incentra Solutions, Inc. Incentra Solutions, Inc. (www.incentrasolutions.com, OTCBB:ICNS) is a provider of complete IT & storage management solutions to broadcasters, enterprises and managed service providers worldwide. Incentra’s complete solution includes professional services, hardware & software products with first call support, IT outsourcing solutions and financing options. To the broadcast market, Incentra delivers complete digital archive management and transcoding solutions built on its IT and storage expertise and offerings.
Incentra Solutions Forward Looking Statements Certain information discussed in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company’s inability to accurately forecast its operating results; the Company’s potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company’s business. For further information on factors which could impact the Company and the statements contained herein, reference should be made to the Company’s filings with the Securities and Exchange Commission, including Annual Reports on Form 10-KSB, Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Contacts: Allen & Caron, Inc. Jill Bertotti (investors) jill@allencaron.com
Len Hall (financial media) len@allencaron.com 949-474-4300
Incentra Solutions, Inc. Thomas P. Sweeney III, Chairman & CEO tsweeney@incentrasolutions.com 303-449-8279
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