iMall Elects Six New Directors, Adds Three Senior Executives and Will Apply for Nasdaq This Month

Business Wire, Feb 2, 1998

STUDIO CITY, Calif.--(BUSINESS WIRE)--Feb. 2, 1998--

In Anticipation of a Nasdaq Listing, Internet Company Says it Has

Notified NASD of its Intention to Reverse Split Common Stock

One-For-Eight

iMALL, Inc. (OTC BB:IIML) today announced the election of six new directors, the addition of three senior executives and said it is preparing an application for a Nasdaq listing which it expects to file this month.

The company also said that in anticipation of a Nasdaq listing, it has notified the National Association of Securities Dealers (NASD) of its intention to reverse split it common stock one-for-eight.

The new directors include Marshall S. Geller, chairman and chief executive of Geller & Friend Capital Partners, Inc. and former senior managing director of Bear Stearns & Co. (NYSE:BSC); Howard A. Goldberg, chief executive of Players International, Inc. (NASDAQ:PLAY); Harold S. Blue, chief executive of ProxyMed, Inc. (NASDAQ:PILL); Richard H. Rogel, former chief executive of Preferred Provider Organization of Michigan and director of CoolSavings.com; Leonard M. Schiller, an attorney and senior executive, and Anthony P. Mazzarella, an investment banker and former managing director of Geller & Friend Capital Partners, Inc.

The additions to the company's senior management team include Mr. Mazzarella as executive vice president and chief financial officer; Steve Rossow, former director of business alliances at AT&T WorldNet Services(R), as senior vice president/marketing and sales; and Dr. Phillip Windley, professor of computer science at Brigham Young University, as chief technology officer.

iMALL chief executive Richard Rosenblatt said that since the completion of the company's $20 million financing in December 1997 that "it is now financially prepared to fully develop and exploit" its already prominent position as the Internet's leading independent shopping mall.

Further, he said, he believes the "company and its shareholders will benefit greatly from the addition of the new directors and executives, all talented and experienced with proven leadership in the fields of finance, marketing and technology."

Marshall S. Geller is currently the chairman and chief executive of Geller & Friend Capital Partners, Inc., a merchant banking firm. Mr. Geller also serves on the boards of Hexcel Corporation (NYSE:HXL), Players International, Inc. (NASDAQ:PLAY), Value Vision International, Inc. (NASDAQ:VVTV), Ballantyne of Omaha, Inc. (NYSE:BTN), and Cabletel Communications Corporation (AMEX:TTV). Mr. Geller served for more than 20 years as Senior Managing Director for Bear Stearns & Co. While at Bear Stearns, Mr. Geller oversaw all areas of corporate finance, public finance, institutional equities & debt for Bear Stearns offices in Los Angeles, San Francisco, Chicago and Hong Kong.

Howard A. Goldberg serves as chief executive officer of Players International, Inc. (NASDAQ:PLAY). Prior to 1993, he was the managing shareholder practicing law in the firm of Horn, Goldberg, Gorny, Plackter & Weiss, a professional corporation, which is general counsel to Players. Mr. Goldberg is a graduate of Franklin & Marshall College and received his law degree from New York University. He is a member of the New Jersey State and American Bar Associations.

Harold S. Blue is currently chairman of the board and chief executive officer of ProxyMed, Inc. (NASDAQ:PILL), a medical information technology company engaged in providing online services to physicians and other healthcare providers, Mr. Blue has also been chairman of the board and chief executive officer of Health Services, Inc., a physician practice management company, president and chief executive officer of Budget Drugs, Inc., and executive vice president of Best Generics Incorporated, a generic pharmaceutical distribution company.

Leonard M. Schiller has been a practicing attorney for more than 25 years and is a partner in the law firm of Schiller, Klein & McElroy, P.C. in Illinois. Mr. Schiller is also president of The Dearborn Group, a residential property management and holding company. He is currently a member of the board of directors of AccuMed International, Inc. (NASDAQ:ACMI), a company which manufactures and markets diagnostic screening products for clinical laboratories, and Milestone Scientific, Inc. (NASDAQ:WAND), a medical products company.

Richard H. Rogel is an independent investor and a director of CoolSavings.com, an on-line commerce company providing specialized Internet merchandising. Mr. Rogel was chief executive officer of the Preferred Provider Organization of Michigan, a firm that he founded in 1982 and sold in 1997. Previously, Mr. Rogel was president and chief executive officer of Suburban Medical Center, president of Strick-Stylehomes, and treasurer of Seligman and Associates. He has also worked with Burnham and Company, investment bankers, and Arthur Young and Company.

Anthony Mazzarella, iMall's new executive vice president and chief financial officer, has 18 years experience in investment banking, corporate finance and planning. He was formerly managing director of Geller & Friend Capital Partners, Inc., and also served as vice president of noted investor Marvin Davis's private holding company, where he was responsible for corporate finance and acquisitions. Mr. Mazzarella previously held senior management positions with Twentieth Century Fox Film Corporation, United Airlines, and Deloitte & Touche. He holds a BA in Physics from Pomona College and an MBA from the Harvard Business School.