Source Technologies Strengthens Executive Team, Appoints Vice President of Marketing

Charlotte, N.C., April 23, 2004-Source Technologies, a Charlotte-based supplier of specialized printers for check production, announced the appointment of Glen Fossella as vice president of Marketing. In this role, Fossella leads all strategic marketing initiatives and drives Source Technologies’ external and internal communications programs. History tells us that successful companies invest heavily in marketing and communications,” said Miles Busby, president, Source Technologies. “Heading up our program with a technology heavy-weight like Glen lends strength to our sales force and creative momentum to overall company progress.”

Fossella brings more than 20 years of enterprise software sales, business development and marketing management experience to Source Technologies. He founded two multi-million-dollar businesses before the age of 30 including a $9 million computer automated design (CAD)/Imaging systems integrator and a $5 million wholesale distributor of office systems. Fossella also served as director of sales for a $30 million publicly traded supply chain management (SCM) software vendor, overseeing the company's entry and rapid growth in the advanced planning and scheduling market. Prior to that, he worked as the director of marketing for a $35 million, pre-IPO SCM software vendor. Fossella also served as vice president of marketing and strategy for a leading logistics compliance platform vendor and was a senior partner with a German venture capital firm. “My vision is to help fuel the growth of Source Technologies’ core business, secure document printing, and drive successful campaigns that expand the company into new markets,” said Fossella. “Not only will we build on the company’s proven track record of high-quality printing solutions, but we will raise awareness in other development areas, aligning our marketing programs to drive those business objectives and software sales."

Fossella is the co-inventor of several software technologies including constraint-based forecasting, compliance optimization and the event processor. He holds a bachelor’s degree from Harvard University.

About Source Technologies
Founded in 1986, Charlotte, N.C.-based Source Technologies is a leading provider of magnetic ink character recognition MICR printing solutions and consumables for secure document applications in the financial services industry and FORTUNE 1000 companies. Source Technologies is one of the nation’s largest providers of secure MICR printers for a variety of businesses, including nine of the Top 10 U.S. banks. Most recently, Source Technologies developed concourse™, a teller assisted self-service solution that enables financial institutions to reduce the traditional queue, increase cross-selling capabilities, and improve teller and overall branch efficiencies. As a pioneer of automation technology in the financial industry, concourse builds on the current success of the kiosk model in other service-based industries such as airlines and grocery stores. For more information, visit www.sourcetech.com