ST. PETERSBURG, Fla.--(BUSINESS WIRE)--May 2, 2002---Nutraceutical Clinical Laboratories International, Inc. (OTCBB:NCCL) today announced the appointment of William J. Catacosinos to its Board of Directors.
Dr. Catacosinos is the Managing Partner of Laurel Hill Capital Partners, LLC, a private equity investment firm. He also serves as the Chairman, President and CEO of TNP Enterprises, Inc., the parent of Texas-New Mexico Power, an electric utility located in Fort Worth, Texas. Laurel Hill Capital Partners, CIBC World Markets and other investors acquired TNP Enterprises in April 2000.
"We are delighted to welcome Bill Catacosinos to our board of directors," said Paul Simmons, Founder and CEO of Nutraceutical Clinical Laboratories International, Inc. "As a board member, we anticipate that Bill will play a very active role in the company both in developing the organization and serving as a liaison to the investment community. Bill brings to the company a strong track record of building shareholder value in both young and mature companies. We look forward to gaining from his management expertise," added Mr. Simmons.
"Nutraceutical's natural food preservation product extends the shelf life of food and beverages. I believe this product has the potential of becoming a leading supplier to the food industry," said William J. Catacosinos. "It's exciting to join a company at this early stage of its development and I am looking forward to assisting it to realize its full potential."
Bill Catacosinos served as the Chairman and CEO of Long Island Lighting Company (LILCO) from 1984 to 1998. Prior to joining LILCO, he was a founder and served 13 years as Chairman and Chief Executive Officer of Applied Digital Data Systems, Inc., Hauppauge, New York, a manufacturer of computer terminals and small business computers that was acquired by NCR. He was also a founder, Chairman and Treasurer of Corometrics Medical Systems, Inc., Wallingford, Connecticut, a company that pioneered fetal heart monitoring. From 1957 to 1969, he was Assistant Director at Brookhaven National Laboratory, Upton, New York, and from 1953 to 1956 served in the United States Navy.
Dr. Catacosinos was born and raised in New York City. He earned a Bachelor of Science degree, a Masters degree in Business Administration and a Ph.D. in Economics from New York University. He and his wife, Florence, reside in Mill Neck, New York.
NCLII is traded on the OTC market under the symbol, NCCL, and can be found on the Internet at nasdaq.com, cnbc.com, pinksheets.com and otcquote.com. Additional company information may be found at: http://www.nutradata.com.
Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995: All statements, other than historical facts, included in the foregoing news release regarding the Company's business strategy and plans of management for future operations are "forward looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These statements, which include, but are not limited to, words such as "expect," "anticipate," "plan," "estimate," "project" and "intend" are based on management's beliefs and assumptions, and on information currently available to management. Forward-looking statements involve certain known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. These factors include, among others, the Company's ability to successfully implement its business plan; any uncertainties relating to business and economic conditions in markets in which the Company operates; any uncertainties relating to customer plans and commitments; the timely development and market acceptance of the Company's products and technologies; possible product defects and product liability, dependence on intellectual property rights, the highly competitive environment in which the Company operates and other risks detailed from time to time in the Company's periodic reports filed with the United States Securities and Exchange Commission and other regulatory authorities.