Virtual Space Entertainment, Inc. Announces the Appointment of Stephen E. Pomeroy as Chief Executive Officer

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Virtual Space Entertainment, Inc. Announces the Appointment of Stephen E. Pomeroy as Chief Executive Officer.

I am excited to be affiliated with such a talented group of individuals. They have created not only compelling and beautiful content, but have aligned themselves with some key strategic partners. VSE has unlimited growth potential, and I look forward to helping the Company exceed its goals and expectations.

The Board of Directors of Virtual Space Entertainment, Inc. announced today that Stephen E. Pomeroy, 40, has been named the President and Chief Executive Officer of the Company, to succeed Richard H. Childers, 61, VSE's founding Chief Executive, who was named as Executive Vice President, Chief Creative Officer. In announcing its decision, the Board of Directors emphasized that "Steve is exactly the right leader for VSE during this stage of development and growth of the Company. His strong executive management experience with technology centric companies, coupled with his capital formation experience, will enhance VSE's capabilities to become one of the major leaders in the virtual world market place."

During Steve's twenty years of experience in building technology based companies he was the driving force that increased annual sales from $65 million to over $900 million and from $10 million to $250 million. He has successfully managed the day-to-day operations of a technology company that had in excess of three thousand employees located throughout North America ,which required balancing staff and inventory levels, new product positioning and customer service satisfaction; all while focused on increasing sales and creating and maintaining profitable operations. Steve is also the Managing Member and Founder of SEP Consulting, LLC, a firm that provides financial advisory and strategic consulting services for early stage to middle market companies.

In response to his selection as CEO, Steve stated that "I am excited to be affiliated with such a talented group of individuals. They have created not only compelling and beautiful content, but have aligned themselves with some key strategic partners. VSE has unlimited growth potential, and I look forward to helping the Company exceed its goals and expectations."

Founded in the spring of 2007, Virtual Space Entertainment (VSE) is a San Francisco Bay Area based production studio developing user content, virtual games and social networking environments and experiences for the world's first high definition (1080p), real time virtual world. The team at VSE brings unmatched and award-winning expertise in storytelling, commercial direction, special effects, animation, digital communication, 3-D model making for films, video game creation, courseware, and broad-band-based entertainment for immersive, massively multiplayer virtual world area developments. VSE creations provide marketers and consumers a unique digital environment in which to sample, test, share, learn and purchase.

Visitors to Virtual Space Entertainment's virtual world development will be able to create an animated, 3-D likeness of themselves and to explore amazing landscapes including futuristic cities by Syd Mead and other artists and major attractions from renowned organizations such as the National Geographic Society, the National Association of College Stores, and the Smithsonian Institute's National Museum of Natural History. Virtual world visitors can socialize with friends in hip entertainment venues; explore the planet Mars as transformed into a blue paradise, play unique games, visit virtual historical re-creations and shop for virtual, as well as real world goods and services.

For more information about Virtual Space Entertainment, Inc., please contact Tres Walsh at 415-302-6441

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Tres Walsh
Virtual Space Entertainment, Inc.
415-302-6441
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