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Incentra Solutions Appoints Tom Hudson , Former CEO of CNT, to Board of DirectorsCompany Moves to Add Experienced, Independent Board MembersNovember 10, 2005 Boulder, CO, November 10, 2005 – Incentra Solutions Inc. (OTCBB: ICNS) announced today that Tom Hudson, former Chairman and CEO of Minneapolis-based Computer Network Technology Corporation (CNT), has been appointed to the Board of Directors. Hudson replaces Incentra Chief Financial Officer Paul McKnight, who will continue to serve as the Company’s CFO, but who resigned from the Board so his seat could be filled by an outside director. Hudson brings years of experience to the Incentra Board and has served on the boards of several public and private companies. “We are looking forward to Tom participating with us on our Board of Directors. Tom has a wealth of experience in growing a successful IT solutions business and specific expertise in disaster recovery and business continuance solutions,” commented Tom Sweeney, Chairman and Chief Executive Officer. “As we continue to grow our business and to work towards moving the trading of our common stock to a major exchange, independent and experienced board members will be very important in assisting us with those tasks. Tom is an exceptional addition to our Board and his advice and participation will be extremely valuable.” “I was impressed with the Incentra strategic business plan. The Company has a solid strategy and I welcome the opportunity to participate. I know this market and am very familiar with the challenges in taking a business like Incentra to the next level. I look forward to contributing to its success,” said Hudson.
Tom Hudson, age 59, was most recently Chairman and Chief Executive Officer of CNT, whose shares traded on Nasdaq before the business was sold to McDATA in June of 2005. At that time, Hudson joined McDATA's board of directors and remains an active member among a few other public company board positions. During his tenure at CNT, he grew the business revenue profitably from $65M to $360M in wide area storage networking. Prior to that, Hudson was a senior vice president of corporate development for McGraw Hill Companies from 1993 to 1996. He began his professional business career in 1968 at IBM, where he served in various executive management capacities.
He received his B.S. in electronic engineering from the University of Notre Dame and his M.B.A. from New York University.
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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