Infinite Group, Inc. Named New Chief Financial Officer

Business Wire, Dec 1, 1999

WARWICK, R.I.--(BUSINESS WIRE)--Dec. 1, 1999--

Infinite Group Inc. (NASDAQ:IMCI) today announced that Bruce J. Garreau, CPA, 49, had been named Chief Financial Officer in July 1999. Daniel T. Landi assumed the responsibilities of Corporate Controller and continues as Corporate Secretary.

Mr. Garreau brings an extensive background of mergers and acquisition integration, implementation of financial controls and processes, and design of management reporting systems. He has managed all facets of finance and accounting, taxation, SEC reporting, information systems and strategic planning. Mr. Garreau joined Infinite from Corporate Financial Group (CFG), a management consulting firm that provides financial, merger and acquisition, planning and strategy services to venture capital funded technology and other start-ups, as well as product and other development services for larger companies.

With CFG, Mr. Garreau served as a Consulting Principal for clients including Fortune 500 companies, as well as medical device and other technology based companies. He has also given expert testimony on securities matters. Prior to CFG he was Executive Vice President and Controller of Northeast Savings, FA, Hartford, CT, then the largest thrift institution in New England (subsequently acquired by Fleet Bank). He served nine years as Senior Manager and Senior Computer Specialist of KPMG Peat Marwick (now KPMG). He is a graduate of State University of New York at Albany with a BS in Public Accountancy, and is a Certified Public Accountant in New York and Connecticut.

"Bruce brings over 20 years of senior management leadership and progressive experience in finance, business processes, financial systems, accounting and post-acquisition integration," said Clifford G. Brockmyre, Chairman and Chief Executive Officer of Infinite Group. "We believe that his results-oriented and customer-focused skills will play a key role in integrating our acquisitions and accelerating the growth of Infinite Group by providing proven financial, managerial and technical leadership.

Infinite Group, Inc. is an industry leader in the areas of laser material processing, advanced manufacturing methods, high productivity production tooling and laser applications technology. Infinite Group technologies lower the cost of molded parts, provide increased molding capacity, and provide shorter delivery times over conventionally constructed molds.

This release contains "forward looking statements" based on current expectations but involving known and unknown risks and uncertainties. Actual results or achievements may be materially different from those expressed or implied. The Company's plans and objectives are based on assumptions involving judgements with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the Company; therefore, there can be no assurance that the forward-looking statement will prove to be accurate.