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E-Duction, the Patent Pending
Technology Offered by MarketMembers, Gains the Expertise of Three
New Board Members
06/09/00
Blue Bell, PA -- June 9, 2000 –MarketMembers.com,
a developer of innovative payment processing solutions, announces
the introduction of three new board members:
George Carmany, III
From 1975-1995, Mr. Carmany held a variety of positions with American
Express Company including Senior Executive Vice President/Chief
Administrative Officer of American Express Bank and Senior Executive
Vice President of The Boston Safe Deposit and Trust Co and SVP-
Corporate Strategic Planning.
From 1975-1995, George Carmany held a variety of positions
with American Express Company including Senior Vice President Corporate
Strategic Planning, Senior Executive Vice President/Chief Administrative
Officer of American Express Bank and Senior Executive Vice President
and Director of The Boston Co. Mr. Carmany is now Chairman and CEO
of Helicon Therapeutics, Inc., a functional geonomics company engaged
in pharmaceutical research and discovery related to the formation
of long term memory. Mr. Carmany also serves as Vice Chairman of
LifeSpan, Inc. a regional healthcare system based in Providence,
RI, and is the Former Chairman of the New England Medical Center.
John R. Regan
John Regan is a Managing Partner for Keystone Venture Capital, a
$150 million venture capital firm. At Keystone, he focuses on the
areas of information technology and Internet commerce and currently
sits on the boards if- of CDnow, Imagicast, VST Technologies, Imaging
Automation and GgoeEmerchant.com. Prior to Keystone, Mr. Regan was
with Apex Investment Partners, a Chicago-based venture capital groupfirm,
and General Dynamics.
Michael Bolton
Michael Bolton is Senior Vice President of Safeguard Scientifics,
Inc., responsible for evaluating new business opportunities, mergers,
and acquisitions, in addition to providing operating and management
guidance to the Safeguard partner companies. Mr. Bolton also holds
the title of Managing Director and chief executive of PA Early Stage
Partners, one of Safeguard's affiliated venture private equity funds
that invests in start-up and early-stage companies primarily located
in Pennsylvania. Mr. Bolton was the founding chief executive of
the Ben Franklin Technology Center located at Lehigh University,
co-founder of the NEPA Venture Funds, and currently serves as a
director of several technology-oriented start-up companies including
4Anything.com and the Investor Broadcast Network.
"The combined expertise from this top financial
team will prove extremely valuable in moving our business plan and
working model ahead." said Kirk Watkins, MarketMembers' CEO.
In May 2000, MarketMembers.com announced the closing
of a $6 million first round venture capital funding through Pennsylvania
Early Stage Partners (PA Early Stage)PA Early Stage, a Safeguard
Scientifics affiliated private equity fund; Keystone Venture Capital;
and Eastern Technology Fund. Since its founding in 1997, MarketMembers
has focused on developing E-Duction, the company's patent-pending
payment technology that allows for payment of goods and services,
interest free, through a series of direct deductions from the consumer's
payroll.
For further information on E-Duction, Inc.,
contact:
Tom McCormick
Fax: 215.542.7090
E-mail: tmccormick@E-Duction.com
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