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FalconStor Software Elects Patrick B. Carney to Board

FalconStor Software Inc, a leading developer of network storage infrastructure software solutions, announced recently that Patrick B. Carney, Chief Information Officer (CIO) of North Shore - Long Island Jewish Health System (North Shore-LIJ), was elected to FalconStor's Board of Directors on May 15, 2003 at the company's annual meeting of stockholders. Carney becomes FalconStor's fifth board member, and brings a wealth of first hand information technology (IT) experience and expertise to the company.

Carney's vast business, management, and IT related accomplishments within the healthcare industry, will add valuable insight to the FalconStor Software Board and management team as it executes on the company's business strategy and vision for delivering enterprise network storage software solutions. Prior to his current position as CIO of North Shore-LIJ, one of the largest not-for-profit health systems in the U.S. with 6,500 affiliated physicians, 30,000 employees and over $3 billion in annual revenues, Carney served as vice president and Chief Information Officer for the Staten Island University Hospital, a multi-site healthcare system serving Staten Island and Brooklyn, New York.

"We are extremely pleased to welcome Rick as our newest board member," said ReiJane Huai, Chairman and CEO of FalconStor Software. "He fully understands the complex challenges faced by our prospective customers and is a recognized leader in the healthcare industry. His decision to join the FalconStor team is a strong vote of confidence in our company, and his perspective on future development efforts will be invaluable."

"FalconStor has earned the reputation as an innovator in the network storage software industry," said Carney. "I look forward to working with an executive and senior management team that is committed to building a world class business based on the development of technology that can effectively address immediate and future customer needs."

Carney's career includes IT management positions in a variety of industries. In addition to his years of experience in the healthcare market, he was also the Director of Information Systems for ABB Power Generation Inc, a subsidiary of the Zurich-based Asea Brown Boveri, and also held positions at KPMG Peat Marwick, Wang Laboratories, and IBM Corporation.

Carney holds a Bachelor of Science degree from Manhattan College, and is a member of several professional organizations including the College for Healthcare Information Management Executives (CHIME), the Healthcare Information Management and Systems Society (HIMSS), and the Society for Information Management (SIM) in which he is President of the New Jersey Chapter.

LeftHand Networks Expands Management Team

LeftHand Networks, a leading provider of complete, integrated IP-SAN storage solutions, has announced that storage industry veteran Tom Major has joined the company as vice president of marketing. Mr. Major will drive LeftHand Networks' global strategic marketing initiatives.

"I am delighted to have an executive of Tom's caliber join our management team," said Bill Chambers, CEO of LeftHand Networks. "His marketing expertise, strategic thinking and industry relationships will help drive even broader market adoption of our solutions."

Mr. Major joins LeftHand Networks with more than 20 years of marketing and business development experience in the storage market. Most recently, he served as vice president and general manager at Storage Technology Corporation, a $2 billion global organization delivering a broad range of storage solutions for digitized data. During his tenure, Mr. Major led the Disk Business Unit. Prior to Storage Technology Corporation, he was vice president of marketing at Managed Storage International, a global provider of complete data management solutions. Mr. Major also held senior level executive positions at Hewlett-Packard, including serving as general manager of its OpenView business unit, a billion-dollar network, systems and storage management software organization.

LeftHand Networks is increasing its marketing, sales and business development efforts in conjunction with the continued success and market adoption of its IP SAN solution. LeftHand's DSM and NSM products combine to enable customers to create an IP-SAN for database and application servers, as well as disaster recovery and disk-to-disk backup solutions. Pricing for the Distributed Storage Matrix starts below $20,000 for a complete, fully featured solution.