ISS advised, "As the dissidents have not made a compelling case for change, we do not recommend shareholders vote for dissident nominees to replace incumbent directors." ISS also noted that North & Webster's board nominee Sam Kidston "if elected here, would be considered overboarded under standard ISS policy since he already is the CEO of a publicly traded company and serves on the boards of three other companies."
None of North & Webster's four director candidates appear to possess any relevant business experience in CSP's two primary business segments, nor has North & Webster put forth any plan to help grow CSP's business and create long-term stockholder value. If shareholders should receive any proxy materials from North & Webster, the Company urges that they completely disregard them and take no action. The Company asks all CSP Inc. shareholders to vote for the Company's director nominees, by signing, dating and returning the proxy card or voting instruction form today.
For your further convenience, you may also vote by phone or Internet, by following the instructions on the proxy card or voting form. If you have any questions or need any assistance with voting your shares, please contact The Proxy Advisory Group, LLC, who is assisting your Company in this matter, toll-free at (888) 337-7799 or (888) 33-PROXY.
About CSP Inc.Based in Billerica, Massachusetts and founded in 1968, CSP Inc. and its subsidiaries develop and market IT integration solutions and high-performance computer systems to meet the diverse requirements of our industrial, commercial, and defense customers worldwide. CSP's Systems segment includes the MultiComputer Division, which designs and manufactures commercial high-performance computer signal processing systems for a variety of complex real time applications in defense and commercial markets. The Company's MODCOMP Inc. subsidiary, also part of its Service and Systems Integration segment was founded in 1970, and has offices in the U.S., U.K. and Germany. Modcomp provides solutions and services for complex IT environments including storage and servers, unified communications solutions, IT security solutions and consulting services. More information about CSP is available on the company's website at www.cspi.com . To learn more about MODCOMP, Inc., consult www.modcomp.com . The CSP, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=14484
CONTACT: Gary Levine Chief Financial Officer CSP Inc. Tel: 978.663.7598 ext. 1200 Fax: 978.663.0150