NTN Communications Announces Appointment of Adrian A. Pace as New Director
NTN Communications Announces Appointment of Adrian A. Pace as New Director
CARLSBAD, Calif., June 29 /PRNewswire-FirstCall/ -- NTN Communications, Inc. (AMEX:NTN), a leader in interactive communications and entertainment products for the home and for the hospitality industry, announced today that Adrian A. Pace, Chief Operating Officer of Pace Capital Management, a New York based money management firm, and General Partner of Pace Capital Partners, L.P., has been appointed to serve on the Company's board of directors commencing July 1, 2005.
"Throughout his career, Mr. Pace has acted in advisory roles to investors and companies alike. As a seasoned financial advisor, Adrian brings to NTN valued experience and insight into business strategies and financial markets," noted Stanley B. Kinsey, Chairman and Chief Executive Officer.
NTN recently disclosed the retirement, effective tomorrow, of two of its long-term directors, Esther Rodriguez and Robert Bennett. In announcing his retirement, Mr. Bennett stated, "In nine years on the NTN board, I have seen the company come from almost no value to its present position of strength and momentum, with substantial growth potential. My confidence and high regard for the company's prospects and senior management, under the leadership of Stan Kinsey, are why I increased my investment in NTN by $1,000,000 when I did. My feelings have only strengthened since then as I feel that NTN's potential for shareholder appreciation is excellent. My retirement is purely that of a desire, at age 76, to reduce my responsibilities and activities on all boards. I have also recently resigned from my position as Chairman of the Muscular Dystrophy Association after over twenty years of service to that organization."
Also retiring, Ms. Rodriguez stated, "After eight years of service on NTN's board, I regret having to wind down my board role and other business activities, but must do so due to health reasons. As an NTN shareholder, I remain fully supportive of the management team and the company's exciting endeavors."
Prior to his current positions with the Pace investment companies, Mr. Pace served as a financial consultant with Merrill Lynch. He currently serves as an advisor to Primehaven Consulting Group, a client-focused business and technology planning company. Mr. Pace holds a degree in economics from the University of Delaware.
About NTN Communications
Based in Carlsbad, CA, NTN Communications, Inc. is the parent corporation of the NTN Hospitality Technologies(TM) segment and Buzztime Entertainment, Inc., a subsidiary. The NTN Hospitality Technologies segment, which focuses on the out-of-home hospitality industries, is comprised of the NTN interactive Television (iTV) Network, NTN Wireless Communications, Inc., and NTN Software Solutions, Inc. Buzztime Entertainment, Inc. produces Buzztime(R), the play- along games channel, live sports prediction games such as QB1(R) and many other games that allow one or many players to participate. In addition to the NTN iTV Network, Buzztime's games are available on cable TV, satellite TV, mobile phones and plug-n-play home versions. For more information, please see www.ntn.com.
CONTACT:
Andy Wrobel
Chief Financial Officer
NTN Communications, Inc.
(888) 752-9686
Andy.Wrobel@ntn.com
Source: NTN Communications
CONTACT: Andy Wrobel, Chief Financial Officer of NTN Communications,
Inc., +1-888-752-9686, Andy.Wrobel@ntn.com
Web site: http://www.ntn.com/
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