Semtek Adds to Senior Management Team

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Senior leaders from POS Hardware, IC, and merchant acquiring sectors join firm.

Each of these executives brings superb industry reputations, expertise, and commitment to establishing Semtek as a leader in card payments security.

Semtek Innovative Solutions Corporation announced today the hiring of three new senior executives. Lance Nakamura, Jay Standiford, and Roger Cooper join Semtek as Vice President of Product Development, Vice President of Engineering, and Vice-President, Senior Sales Officer, respectively. Mr. Nakamura and Mr. Standiford will report to Semtek's Chief Executive, Patrick Hazel while Mr. Cooper will report to Michael Struttmann, Semtek's Vice President of Business Development.

Mr. Nakamura was most recently the Chief Technical Officer of Way Systems where he had overall responsibility for that firm's product architecture and technology strategy. Prior, he held a variety of senior engineering roles for VeriFone (NYSE: PAY) over a span of 22 years. In his new role at Semtek, Mr. Nakamura will be responsible for managing Semtek's product development efforts and strategic and competitive planning related to the firm's technical architecture.

Mr. Standiford was most recently the Vice-President of Engineering for NetList, Inc., a leader in memory module development for the top-tier server market. Prior, he held senior engineering management roles with Oxford Semiconductor and Conexant Systems. Between 1993 and 2001, Mr. Standiford was a Director of Engineering and Business Unit manager at Texas Instruments. In his new role at Semtek, Mr. Standiford will be responsible for all production engineering functions.

Mr. Cooper was most recently Vice President and Senior Sales Officer for National Accounts for Bank of America Merchant Services, coming to Bank of America through its acquisition of National Processing Company (NPC). Prior, Mr. Cooper spent twenty years in the acquiring side of the Payments Industry, selling and managing the implementation of check services and EFT switch software for tier 1 retailers. Mr. Cooper is a graduate of Miami University School of Business (Oxford, OH) and the Baldwin-Wallace Master of Business Administration program (Berea, OH).

"We're very pleased to have Lance, Jay, and Roger join Semtek at this critical stage of our growth and market demand," commented Semtek Chief Executive Patrick Hazel. "Each of these executives brings superb industry reputations, expertise, and commitment to establishing Semtek as a leader in card payments security."

Semtek has recently introduced a major new technology called Hidden Triple DES™ that effectively eliminates the need for retailers to store and manage credit or debit card information, thereby solving one of the payment industry's toughest security challenges worldwide.

About Semtek Innovative Solutions Corporation (http://www.semtek.com):
Semtek Innovative Technologies Corporation has been a leader in magnetics technology since 1999, serving large public and private sector customers who require secure data capture components for their fixed-base and wireless devices. Specializing in highly secure data capture solutions for magnetic stripe, smart-card, RFID, and biometrics, Semtek is a key OEM and network services partner for point of sale hardware providers, wireless provider, retail merchants and payment processors worldwide. Semtek is headquartered in San Diego, California.

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KEVIN DOEL
Semtek
785-273-9660
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