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Tuesday, January 11, 2005
CDS Appoints New Chief Executive Officer

January 11, 2005: Cellular Design Services (“CDS”), which provides wireless network solutions for complex, high-usage environments, has appointed Simon Saunders as Chief Executive Officer.

Simon Saunders (aged 38) was formerly Chief Technology Officer of CDS, and is a specialist in mobile communications systems. He has worked for leading mobile companies such as Motorola, Ascom and Philips Telecom, is a Visiting Professor to the Centre for Communication Systems Research at the University of Surrey, and is a Fellow of the Institute of Electrical Engineers.

Roger Jeynes, Chief Operating Officer of Interregnum plc, the technology merchant bank, who has been acting as interim COO of CDS since its acquisition by Interregnum in February 2004, becomes a non-executive director of CDS. Dr John Forrest, CBE remains Chairman of CDS.

Commenting on this appointment, Roger Jeynes said: “Since Interregnum acquired CDS nearly 12 months ago, John Forrest and his team have led a substantial financial turnaround in the business, achieving a net after tax profit of £96k in 2004 (2003: loss of £272k) and generating positive net cash flow of £232k (2003: negative £132k). More significantly, they have focused CDS on higher-margin, complex wireless infrastructure work, leading to deeper business relationships with operators such as O2, 3, T-Mobile, and BT, with equipment vendors such as Nokia, and with large property owners such as BAA; Simon Saunders has been critical to this transformation of the business.”

Notes to Editor


Ann Fielder

Insight Marketing and Communications

0208 564 6385

afielder@insightmkt.com

- Ends -

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