FOR IMMEDIATE RELEASE

Regent Pacific Names Philip J. Gioia New Principal As Part of Continued Corporate Expansion

Former Indivos President and CEO to focus on technology growth, turnaround management assignments.

San Francisco, CA — November 26, 2002 — Regent Pacific Management Corporation today announced that Philip J. Gioia has joined the firm as one of its principals. Gioia is Regent Pacific's second senior executive addition this month, and is part of a planned expansion of the 28-year old global provider of restructuring and corporate turnaround services.

"Phil Gioia possesses a rare combination of experience and talent," said Gary J. Sbona, Regent Pacific's chairman and CEO. "He's seen it all. His 23 years' business and operational management experience includes starting companies and running them, as well as working in investment banking and venture capital. He's exceptionally qualified to lead any of our client engagements."

Gioia's technology background includes wireless communications, authentication, encryption, and electronic transactions. From 1998 to 2002, he was president and CEO of Indivos Corporation, providing biometric authentication to the electronic payments industry. He spearheaded that firm's financing efforts, resulting in the securing of over $17 million equity financing from strategic, venture and private investors. Under his leadership, Indivos increased its intellectual property portfolio to 17 issued U.S. patents, with 16 more patents pending. Indivos' technology, patents and Pay by Touch^sm services enable consumers to make biometrically-authenticated payments without need for credit or debit cards, paper checks, or other devices, at point of sale, on-line, and via telephone and wireless.

Prior to Indivos, Phil co-founded and served as president and CEO of Zeus Wireless, an integrator of military communications technology, producing 2.4 GHz frequency-hopping wireless communication chip sets and other products for industrial, commercial and financial applications. His earlier career included positions with BankAmerica Capital, the venture capital arm of Bank of America, and with Morgan Stanley & Co., Inc. >

"I joined Regent Pacific because of its unique philosophy, commitment, and its strong reputation for exceptional results," said Gioia. "This firm understands how critical it is to get struggling companies to recognize and act on the warning signs that may lead to disaster. The earlier they do, the better chance we will have to make a successful turnaround. I'm looking forward to helping Regent Pacific reach more people in key corporate governance positions with that critical message."

About Regent Pacific

Regent Pacific Management Corporation is an international firm that specializes in the recovery and restructuring of underperforming companies. The firm provides crisis, turnaround, and interim management services at the CEO, COO, CFO, and other executive positions for companies in transition. The firm also provides advisory services, expert testimony and litigation support services.

Regent Pacific has successfully completed over 530 engagements for 400 clients including over 175 restructurings, reorganizations or bankruptcies, and over 85 sales of businesses, products, and technologies.

Established in 1974, the firm is headquartered in San Francisco, California with operations worldwide from satellite offices in New York, London and The Hague. To learn more, visit Regent Pacific at http://www.regent-pacific.com.

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