For Immediate Release
ADB PROVIDES CORPORATE UPDATE
Names new chairman; Makes management change; Updates Q3 guidance
Toronto, ON - October 13, 2005 - ADB Systems International (TSX: ADY; OTCBB: ADBYF), a global
provider of asset lifecycle management solutions, announced today a number of organizational changes and
updated its guidance for third quarter performance.
The company announced that Chris Bulger has been appointed chairman of ADB’s board of directors. Mr.
Bulger has extensive experience in the technology and financial services industries. He is CEO of Megawheels
Technologies Inc., and has previously served as CEO of eLab Technology Ventures and as a partner with HDL
Capital Corporation. Mr. Bulger, a chartered financial analyst and a graduate of INSEAD, has been a member of
ADB’s board of directors since 1996, and has been active on its audit and corporate governance committees.
“As a member of the board, Chris has been instrumental in helping to shape ADB’s strategic direction and
providing recommendations on how to best realize our corporate, financial and operational objectives,” said Jeff
Lymburner, CEO of ADB Systems. “I look forward to working more closely with Chris, and now being able to
devote more effort to sales and customer activities.”
ADB also announced that Mike Robb has resigned as chief financial officer. Mr. Robb’s responsibilities will be
overseen by Mr. Bulger, who previously served as the company’s CFO from 1996 to 1998.
Updates Q3 guidance and schedules reporting of results
ADB also announced it is adjusting its guidance for revenue for the third quarter of 2005 to approximately $1.1
“Although we anticipated greater growth, our revenue performance in Q3 resulted in a year-over-year
improvement of approximately 24 percent,” Mr. Lymburner said. “In addition, we generated $150,000 in
deferred revenues for the third quarter that will be recognized in Q4.”
ADB also announced that it will release its third qua