OSRS Osiris Corporation (CE)

Osiris Corporation (Pink Sheets: OSRS) announced Petter M. Etholm has been elected Chairman of the Board of Directors, succeeding Michael Luther, who retired to pursue other business interests. Etholm joined the company last year and is also President and Chief Executive Officer of Osiris and its Thomas Equipment Inc. subsidiary. Etholm said, �With excellent brands at our operating companies, we will adhere to a strategy of leveraging brand strengths, seeking business alliances, enhancing operating systems and building sales as we improve margins.� Osiris subsidiaries include Thomas Equipment, which operates a network of dealers of Thomas Skid Steer loaders; Pneutech-Rousseau Inc., marketers of pneumatic and hydraulic systems and components, and TcomT Inc., designers of wireless telecommunications devices. Osiris, online at www.osiriscorp.net, is a global holding company based in New York, Boston and Omaha. Osiris� operating subsidiaries are located in North America (Canada), Europe, and Asia. Before joining Osiris last year as President and CEO, Etholm was a consultant to the Thomas Equipment subsidiary. Prior to that, he was President of Cardsmart Retail, where he led a turnaround of a small retail network into what Entrepreneur Magazine called one of the 10 fastest growing franchise systems in America. Previously, he was Executive Vice President of Nutri/System, Inc., overseeing its restructuring after having been one of Nutri/System�s most successful franchisees. Multi-lingual, Etholm graduated from The Norwegian School of Economics and Business Administration, received Masters of Business Administration degree from Thunderbird, the American Graduate School of International Management and is a member of the World Presidents Organization. Safe Harbor Statement Under the Private Securities Litigation Act of 1995 � This press release discusses forward-looking statements with risks and uncertainties. OSRS results could differ materially due to various factors, including inability to finance operations or expansion and hire or retain personnel, economy and interest rate changes, and events such as terrorism. OSRS believes statements to be reasonable, but neither OSRS nor any other person can represent they will be achieved. OSRS is not obligated to update statements due to new information, events or otherwise. Please see the risk factors associated with our Company and review our SEC filings.