Iterated Systems names former American Express CEO to board of directors

Business Wire, Nov 15, 1994

NORCROSS, Ga.--(BUSINESS WIRE)--Nov. 15, 1994--Iterated Systems announced Tuesday that James D. Robinson III, former chairman of American Express Company, will serve on the privately owned company's board of directors.

Robinson is president of J.D. Robinson Inc., a strategic advisory company and Principal, RRE Investors, LLC, a private investment company. He also is a senior Advisor to Trust Company of the West and a Principal of North American Business Partners. From 1977 to 1993, Robinson was chairman, CEO and director of American Express.

In addition to Iterated Systems, Robinson is a director of the Coca-Cola Company, Union Pacific Corp., Bristol-Myers Squibb Company, New World Communications Group Inc., First Data Corp. and Alexander & Alexander Services Inc., Pacific Pay Video Ltd., and Kenny Roger's Roasters. He also is chairman of the board of Overseers and Managers of Memorial Sloan-Kettering Cancer Center.

According to John R. Festa, president and chief executive officer of Iterated Systems, Robinson's investments background and expertise with rapidly growing high-tech companies make him an ideal appointment to the company's board of directors.

Commenting on his appointment to Iterated's board, Robinson said: "I am very pleased to be joining this growing technology company; John Festa is assembling a strong management team and I am certainly looking forward to participating in setting its growth and future direction."

Iterated Systems of Norcross develops Fractal Compression software for computers. Companies using Iterated's Fractal Technology include Microsoft, Lotus Development Corp., Virgin Sound & Vision, Berkeley Systems and IBM. In 1993, Iterated had annual sales of $7 million, and anticipates reaching sales of $10 million this year. The company has plans for an initial public offering in 1996.

"Image compression is essential for a range of the technologies we idealistically speak about today but which are still on the fringe of application," explained Festa. "Multimedia is reaching the mainstream with CD-ROM publishing. More distant applications such as movies on demand -- even widespread travel on the Information Super Highway will depend upon the compact storage and transmission of images. There is no question that Fractal Compression offers an excellent solution."

Robinson, a graduate of Georgia Institute of Technology and Harvard University School of Business, is a member of the Business Council, the Council on Foreign Relations, an honorary member of the Board of Trustee of the Brookings Institution, a member of the Executive Advisory board of Ivan Allen College at the Georgia Institute of Technology and the Dean's Advisory Council at Emory University. Robinson served as Chairman of the Advisory Committee on Trade and Policy Negotiations, and co-Chairman of the Business Roundtable.

Iterated Systems offers an exclusive selection of Fractal Image compression, decompression and enhancement products for both desktop users and software developers. Designed to meet the specific needs of each user, Iterated Systems' products are segmented into still image and full-motion video applications for the DOS, Windows and Apple Macintosh environments. For more information, contact the company at 5550-A Peachtree Parkway, Suite 650, Norcross, GA 30092 or call 800/4FRACTL (437-2285).

CONTACT: Iterated Systems

              Alan McKeon, 404/840-0310; fax: 404/840-0806
              Baron, McDonald & Wells
              Lisa Leahy, 404/806-0062; fax: 404/806-0063
              MCI mail: 513-1090