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InnoVentry appoints new president, COO

February 24, 2002

SAN FRANCISCO -- InnoVentry Corp., a company developing advanced function ATMs that utilize Internet and biometric technologies, appointed Tom Bass to the position of president and chief operating officer (COO).

Bass will oversee the day-to-day operations of the organization along with sales and marketing.

Bass brings more than 26 years of experience in the banking and financial services industry. Most recently, he served as senior vice president of Washington Mutual, where he oversaw the implementation and operations of the Integrion Home Banking project as well as the bank's Web site. Prior to his experience at Washington Mutual, Bass was president and CEO of The Exchange System, the first system to allow multiple banks with identical ATMs to support fully integrated ATM transaction sets running coast-to-coast and across international borders.

"InnoVentry is maturing as a company. We've recently narrowed our focus to the retail market, and now we are ready for someone with Tom's breadth of experience to help take the company to the next level as its president and COO," said Frank Petro, Jr., the company's chairman and CEO.


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