Daniel E. Somers joins Hyperchip's
Board of Directors
MONTREAL - October 25, 2002 - Hyperchip Inc,
a leading developer of core IP systems, today announced the appointment
of Daniel E. Somers to its Board of Directors. Mr. Somers is currently
vice chairman of Blaylock & Partners, L.P., the leading minority
and woman owned investment-banking and securities firm.
Mr. Somers formerly served as President and Chief Executive
Officer of AT&T Broadband, one of world's largest broadband operators
and a wholly owned subsidiary of AT&T. Previously, Mr. Somers
was Senior Executive Vice President and Chief Financial Officer of
AT&T from May 1997 to December 1999. Prior to joining AT&T,
Mr. Somers was Chairman and Chief Executive Officer of Bell Cablemedia,
plc, of London for two years. Also, Mr. Somers held a number of senior
executive, financial and operating-management positions with Imasco
Ltd and other major corporations.
"Hyperchip is honored to have Mr. Somers on our
Board of Directors. His financial and operational expertise and insight
in managing Tier 1 carriers will help guide Hyperchip's growing commercialization
process through this turbulent time in the industry," said Brian
Barry, Hyperchip's CEO.
About Hyperchip
Based in Montreal and Dulles (Virginia), Hyperchip is defining the
future of the Internet with cost-effective, high-performance IP systems
that offer reliable, high-quality bandwidth at a fraction of the current
costs. Hyperchip's core IP systems reduce operating and capital costs,
while delivering the reliability and flexibility necessary to support
high-revenue services that will enable carriers to increase profits
from their IP networks.
Hyperchip has raised $220 million in financing since
its inception. Its leading investors include TechnoCap, Siemens Venture
Capital, Telesystem-Argo, Vertex Technology Fund, Advent International,
Optical Capital Group, Altamira, Amerindo, Artemis, JT Ventures, Morgan
Stanley, Pilgrim Baxter, Putnam Investments, Van Wagoner Capital Management
and Investissement Quebec. For more information about Hyperchip, visit
the company Web site at www.hyperchip.com.
For more information, please contact:
Alain Bourget
Hyperchip Inc.
514-906-2489
abourget@hyperchip.com
Jennifer Goldfinch
Hyperchip Inc.
514-906-4844
jgoldfinch@hyperchip.com
Hyperchip, Hyperchip Matrix and The Petabit
Routing Company are trademarks of Hyperchip Inc. Other trademarks
identified in this release are the property of their respective companies.