FOR IMMEDIATE RELEASE

Regent Pacific Management Adds Managing Director

H. Michael Hogan III Assumes New Role with Leading Restructuring and Turnaround Management Company

San Francisco, CA—July 21, 2003—Regent Pacific Management Corporation, a global provider of restructuring and turnaround services to underperforming companies, today announced that it has named H. Michael Hogan III a managing director. Hogan joined Regent Pacific as a principal in 1996. He has been instrumental in major engagements with public clients, including Accelerated Networks, Inc., 3D Systems Corporation, Calico Commerce, Inc., Clarent Corporation, and others. Hogan has extensive experience as a senior manager in developing and implementing comprehensive corporate strategies and solutions for public and private companies. Elements of these financial and operations programs include: immediate operational intervention and assessment, cash control and cost reduction, debt restructuring, and strategic asset evaluation for companies worldwide.

"Michael is a financially pragmatic executive who has taken a critical role in stabilizing and restructuring many of Regent Pacific's more than 400 client companies. He is a hands-on leader who develops creative solutions to tough financial and operating issues," said Gary J. Sbona, chairman and CEO of Regent Pacific. "We expect his proven track record will continue to be a source of strength for our clients and an asset for Regent Pacific," continued Sbona.

For more than 14 years, Hogan has advised businesses in a wide range of industries, including public and private software, telecommunications, manufacturing, distribution and retail firms. He is a Certified Turnaround Professional (CTP), a member of the Turnaround Management Association (TMA) and the past managing editor of TMA's Journal of Corporate Renewal. He holds a B.A. in Economics and Political Science from Colgate University.

About Regent Pacific
Regent Pacific Management Corporation, founded in 1974, is a preeminent advisor to public and private sector companies in financial or management transition. Headquartered in San Francisco, this international firm and its team of more than 35 senior managers provides comprehensive operational management expertise and support in all phases of operations, engineering and technical support, marketing and sales, finance and organizational development. The firm provides crisis, turnaround and interim management services at the CEO, COO, CFO CRO and VP level.

Regent Pacific has completed more than 530 engagements for 400 clients including corporate restructurings, reorganizations, acquisitions, bankruptcies, and sale of businesses, assets or technology. Regent Pacific also maintains offices in New York, London and The Hague. More information on the company is available at www.Regent-Pacific.com, or by phoning (415) 391-8500.

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