More Management Changes at Comtex

Aug 19, 2003

Comtex News Network, Inc. has appointed Stephen W. Ellis, chairman of the board of directors, to the additional post of CEO and has named Laurence F. Schwartz, President. Schwartz will be supervising marketing and sales during the initial stages of the company's headquarters move to New York. Schwartz continues to serve as President of NewNetCo, and is currently chairman of the board of directors of Bolenka Games Online LLC and Patron Technology LLC. Ellis became a director of the company in October 2002 and was subsequently elected chairman of the board. He most recently served as EVP and CFO of GFI Group, Inc., a credit, equity, energy, and foreign exchange derivatives brokerage firm. Ellis also serves as President of Tournament Systems Ltd. and its parent company, Bolenka Games Online LLC, which develop and operate online and wireless versions of branded games. As previously announced, Comtex's publishing, client services, finance, and technology centers will remain in Virginia.