New CEO and Exec. VP at Milestone

Milestone strengthens its management in preparation for more global growth.

COPENHAGEN, Denmark - 15 November 2002.

As part of the company’s increased focus on international expansion, the management team has been strengthened with the appointment of a new Chief Executive Officer and a new Executive Vice President Sales and Marketing.

Milestone Systems A/S has appointed Lars Thinggaard as new Chief Executive Officer. From January 1, 2003, he takes over this position from the co-founder John Blem, who will continue as Chief Technology Officer with his responsibilities covering the Research & Development and Consultancy teams. Lars Thinggaard has been a member of the Milestone Board of Directors since the transformation of the company’s structure to a limited company at the end of year 2000. He has over 8 years of industry experience, previously carrying the responsibility of the development of several technology companies.

"Milestone Systems' success is deeply rooted in several core competencies: in-depth knowledge of real-time systems, hands-on experience with other companies' technology infrastructures, and operation of their software platforms. Milestone is well on the way to producing the de facto standard for IP based video surveillance globally," Lars Thinggaard explains.

Immediately prior to joining Milestone Systems, Lars Thinggaard was an independent corporate advisor and consultant. Previously, he has worked as Chief Financial Officer and Executive Vice President at Mondosoft, Beologic and In2itive Technologies. Before changing to the technology sector, Lars Thinggaard worked as an accountant and consultant for 7 years with Arthur Andersen and PriceWaterhouseCoopers.

As part of the increased focus on international expansion, Jens Nielsen has also been appointed Executive Vice President of Sales and Marketing, with the responsibility for all sales and marketing activities worldwide at Milestone Systems. Jens Nielsen has previous experience as the founder and Sales & Marketing Manager for the successful Danish company In2itive Technologies, later sold to a US concern. Most recently, Jens was Vice President of the American publicly traded technology company, SPSS. Jens will enter into the management team of Milestone Systems' together with Lars Thinggaard, John Blem and Henrik Friborg Jacobsen.

Milestone Systems is internationally among the leading developers of software for integrated systems to IP based video surveillance cameras. John Blem and Henrik Friborg Jacobsen founded the company, situated in Copenhagen, Denmark. Since its inception in 1998, Milestone Systems has succeeded in building up a solid position in the international market for digital video surveillance, with almost 2,000 customers and partners in more than 45 countries.

In the autumn of 2002, Milestone Systems was identified by IDG/Computerworld as being one of the 25 most profitable technology companies in Denmark. This was proven by the fact that the company had consistently seen fast and profitable growth from its beginning.