Nashua, N.H., December 23, 2009 – Ezenia! Inc. (OTCBB: EZEN.OB), a leading market provider of real-time situation awareness, command and control solutions for corporate and government networks. As a consequence of feedback from shareholders — who have noted that the deadline for shareholder recommendations for director nominees in the Company’s most recent proxy statement filed with the SEC (the “Proxy Statement”) was December 22, 2009, while the Nominating Committee of the Board is scheduled to meet on January 5, 2010, for the purpose of considering additional candidates for nomination to the Board — the Board has decided to extend the deadline for suggesting candidates for Ezenia’s Board from December 22, 2009, to January 15, 2010.
The extension of the deadline will apply only to suggestions for director candidates and not to the deadlines for shareholder proposals under the Company’s by-laws or SEC rules. The current deadline for these shareholder proposals remains December 22, 2009.
The Board has extended the deadline for the specific purpose of allowing shareholders to have the opportunity to make suggestions up until, and for ten days after, the Nominating Committee is scheduled to meet. The Nominating Committee will make note of suggestions received before it meets, establish a procedure for processing suggestions, and apply that procedure to any other suggestions received before January 15, 2010. Recommendations should otherwise follow the process and include the information described in the Proxy Statement.
Since the Nominating Committee will have to do due diligence on suggestions received for some time after it meets on January 5th, it believes there will be ample time to include suggestions received in the period after its meeting through January 15th. Nominations to Ezenia’s Board resulting from the assessment of candidates made by the Nominating Committee will be provided to Ezenia’s current Board for approval in advance of the May 2010 shareholders meeting.
About Ezenia! Inc.
Ezenia! Inc. (OTC Bulletin Board: EZEN.OB), founded in 1991, is a leading provider of real-time collaboration solutions, bringing new and valuable levels of interaction and collaboration to corporate networks and eGovernment. By integrating voice, video and data collaboration, the Company’s award-winning products enable groups to interact through a natural meeting experience regardless of geographic distance. Ezenia! products allow dispersed groups to work together in real-time using powerful capabilities such as instant messaging, white boarding, screen sharing and text chat. The ability to discuss projects, share information, and modify documents allows users to significantly improve team communication and accelerate the decision-making process. More information about Ezenia! Inc. and its product and service offerings can be found at the Company’s Web site, http://www.ezenia.com.
Statements included herein that are not historical facts may be considered forward-looking statements. You can identify these forward-looking statements by use of the words “expects,” “anticipates,” “estimates,” “believes,” “projects,” “intends,” “plans,” “will,” “may,” and similar words. Such forward-looking statements, which include statements regarding the Company’s business and financial outlook, expense control and cash preservation efforts, pursuit of sales opportunities and resulting effects, and long-term strategy, involve risks and uncertainties that could cause actual results to differ materially from those indicated by such forward-looking statements. These risks and uncertainties include the considerations that are discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2008, such as the evolution of Ezenia!’s market, dependence on the United States government as its largest customer and on other major customers, continued funding of defense programs by the United States government and the timing of such funding, uncertainties associated with procurement processes and on-going bidding activities for government programs, rapid technological change and competition within the collaborative software market, the Company’s reliance on third-party technology, protection of its propriety technology, customer acceptance of IWS and other new products including the acceptance of IWS in the commercial market, retention of key employees, stock price volatility, the Company’s history of liquidity concerns and operating losses, and other considerations that are discussed further in such report. You should not place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation to update forward-looking statements after the date of such statements.