New Management Appointments in Valimo

Valimo strengthens its board and management team

Helsinki 4.2.2005 - Valimo Wireless today announced changes in its Board and top management. After a record-setting 2004 for the company in terms of both sales and new customer growth, the company plans to build its customer base both domestically and internationally.

The current Chairman, Mr. Will Cardwell will become the new CEO of Valimo Wireless effective immediately. Co-Founder and former CEO Mr. Jarkko Elonen continues as the COO of the company, and has been appointed to the Board of Directors.

Also, Valimo is pleased to announce Mr. Pertti Kyttälä as its new Chairman of the Board. Pertti's experience in various CEO and board positions, most recently as CEO of the major Finnish mobile operator Elisa Mobile (formerly Radiolinja), brings exciting new networks and expertise to the Valimo team.

"I am very happy to welcome both Will and Pertti to their new positions at Valimo. 2004 was an excellent year for Valimo and we all are delighted about our development and past performance. We are all committed to building Valimo to be a leading player in strong authentication and mobile payment solutions in the eyes of both Finnish and international customers", comments Mr. Elonen.

"Becoming CEO of Valimo is an exciting new challenge for me," comments Mr. Cardwell. "I believe that my involvement in many software companies over the years gives me a good view for helping navigate Valimo to the next level. We have built an outstanding team capable of delivering cutting edge solutions for our customers, and having the strong support of the founders in key operating roles is a critical factor to our continuing success. I want to especially thank Jarkko for his past performance and I'm convinced that that his heightened role in key customer projects, in addition to his internal responsibilities, will continue to add great value to the company."

Mr. Cardwell has been involved in the strategic development and finance of Finnish software concerns since 1996. Most recently he held a research position at Helsinki University of Technology developing strategies for Finnish software companies, while serving on the Boards of both Valimo and Smartner Information Systems, and engaging in several additional advisory and consultancy roles. From 1999 - 2003, as a partner at Eqvitec Partners, and prior to that, as Managing Director of Eqvitec Advisors, he worked closely on partnering and financial strategy with leading Finnish software companies including F-Secure, Iobox, Digia, Solid Information Technology, and Frends Technology. From 1996 - 1998, Mr. Cardwell founded and directed the Finance Institute at LTT-Research in Helsinki. He holds a BS degree in mathematics from Davidson College in the USA, an MBA degree from the Helsinki School of Economics and has completed additional post-graduate study in finance at the University of North Carolina-Chapel Hill.

In other changes to the Valimo Board, Mr. Juha Mikkola, Senior Partner at Eqvitec, and Mr. Alexander Ehrnrooth, Chairman of Menire, join the board. Mr. Shawn Abbott, Principal at SpringBank TechVentures and former President of the NASDAQ-listed Rainbow Technologies (now part of Safenet Inc), and Mr. Juha Mitrunen, Senior Vice President of Valimo remain as board members.

Valimo Wireless delivers strong authentication and payment solutions to its operator and corporate customers, in both mobile and fixed-line environments. The company's product portfolio features transaction management solutions which enable strong user authentication in multi-channel environments, assuring non-repudiation and high data security. Valimo's products and services allow our customers to focus on their own business and service portfolios, leaving Valimo's solutions to manage network security and data integrity issues, as well as enabling the best possible service availability for use with multiple end-user devices.

For More Information:

Valimo Wireless
www.valimo.com
Will Cardwell, CEO
Tel: +358 9 4365 0085
will.cardwell@valimo.com