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November 6, 2002 NetUPDATE, Inc. names Diane Holmstrom as new CEO Redmond, Wash. - NetUpdate, Inc., a premier software services company, announced today a new Chief Executive Officer. Diane Holmstrom has been President of NetUPDATE since September 2002 and brings extensive mortgage industry experience to her new assignment as CEO. Mrs. Holmstrom's former posts include a 10-year position with Interlinq Software where she directed and facilitated the growth and expansion of the sales team and distribution channels to successfully capture 24% market share. "She is an outstanding business leader in the truest sense, capable of inspiring people and creating transformation and positive change in our organization," explains Tom Gonser, outgoing CEO. "Diane has a breadth of experience that is seemingly tailored for NetUPDATE." Diane Holmstrom's professional history represents over 17 years of driving revenue and increasing market share by planning and implementing comprehensive sales and marketing strategies. She provides swift assessments, analysis and development of solutions and strategies for achieving operational and financial objectives. Outgoing founder and CEO, Tom Gonser will continue to be involved as a member of the Board of Directors for the company. Mr. Gonser directed the growth of the company from garage startup to a significant player in the industry. About NetUPDATE, Inc. NetUPDATE (www.netupdate.com) is a software services company providing solutions that enable people to work together online, significantly reducing the time and cost of complex business transactions for the mortgage industry. NetUPDATE's tools extend mission-critical business applications onto the Internet, moving customers from expensive, slow, paper-based transactions to streamlined, electronic transactions. By allowing each person involved in the transaction to interactively share information, documents, and communication in a managed fashion, NetUPDATE solutions reduce transaction time, streamline back-office processes, and provide improved customer satisfaction. NetUPDATE is funded by Alexander Hutton Venture Partners, CBC Companies, EFund LLC, Greenstone Venture Partners, Irwin Ventures, Onyx Software and Timberline Venture Partners.
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