03 March 99
N E W S R E L E A S E
Chartwell Strengthens its Board With New CFO and Vice President, Operations
March 3, 1999, Chartwell Technology Inc.(CWH-ASE) an internet based e-commerce, software, technology and service company which specializes in online gaming software and video conferencing solutions, is pleased to announce that Mr. Barry H. Foster has been appointed as a director of Chartwell and as a senior officer in the role of Chief Financial Officer and Vice President, Operations.
Mr. Foster received his Honors Computer Technology Diploma from the Southern Alberta Institute of Technology in 1973, became a Certified General Accountant in 1979 and received his CDP designation from the the Institute of Certified Computer Professionals in 1980. He is well versed in state-of-the-art technologies including object orientation, client server, relational database management systems, the Internet and World Wide Web. Mr. Foster brings to Chartwell twenty-five years of senior management experience in software integration, information technology, computer technology and programming, strategic planning, project management and economic evaluations.
"Mr. Foster represents a very strong addition to Chartwell's management team. He will be instrumental in developing our current business model and in Chartwell's strategy to capitalize on new opportunities in the Internet based marketplace", states Darold H. Parken, president of Chartwell.
Chartwell's state-of-the-art CasinoCasino software requires no downloading and provides the instant gratification that is demanded by the vast and untapped population of worldwide Internet players. The JAVA based CasinoCasino software allows Internet users instant access, even via AOL (NYSE:AOL) and WEB TV. Peer internet based on-line gaming companies include Cryptologic (TSE: CRY) Starnet Communications International Inc.(OTC BB: SNMM), Atlantic International Entertainment Ltd. (OTC BB:AIEE), Multimedia Games Inc.(OTC BB:MGAM), Virtual Gaming Technologies (OTC BB:VGTI), IGN Internet Global Network Inc.(OTC BB:IGNIF & VSE:IGN), GLC Limited (NASDAQ:GLCCF), Global Intertainment (OTC BB:GGNC), in what PC Computing Magazine & UK's Financial Times estimates to be an $US 8 billion industry by 2004.
Chartwell's CorelVIDEO solution was developed by the Corel Corporation (TSE:COS) and provides Video Conferencing through any phone line, in any office, anywhere. It is now a business tool that is about to become as commonplace as the telephone. Industry estimates shows a 35% yearly growth in the video conferencing equipment market. A report commissioned by Forward Concepts of Tempe AZ. predicts that the market will reach $US 5 billion by 2003. Peer companies in this sector include Multimedia Access (Nasdaq:MMAC), Picturetel Corporation (Nasdaq:PCTL), Polycom Inc.(Nasdaq:PLCM) and Vtel Corporation (Nasdaq:VTEL).
For further information, please contact:
Darold H. Parken
President
877-261-6619 or 403-261-6619
dhp@chartwelltechnology.comDavid Bajwa
Investor Relations
877-669-4180 or 604-669-4180
info@chartwelltechnology.comThe Alberta Stock Exchange has neither approved nor disapproved the information contained herein.
For more information about Chartwell Technology Inc. please see www.chartwelltechnology.com/Stock.html