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UTStarcom Announces CFO Transition

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HONG KONG -- UTStarcom (Nasdaq:UTSI), a global telecommunications infrastructure provider, today announced the appointment of Mr. Min Xu as Chief Financial Officer of the Company, effective August 21, 2014. Mr. Xu will replace Mr. Robert Pu who has resigned for personal reasons but will remain with the Company for six months as a consultant to help ensure a smooth transition.

Mr. Xu has fifteen years of professional experience, with a focus on finance, equity research, marketing, and engineering. He will bring to UTStarcom a unique and relevant blend of financial and capital markets experience gained during his time as a senior sell-side analyst covering a wide variety of companies listed in the U.S., deep industrial expertise in areas such as technology and telecommunications, and strong hands-on technical engineering experience from his initial career as a software engineer.

Mr. Xu was most recently a senior equity research analyst at Roth Capital. Prior to that, he was an equity research analyst with various firms, including Wedbush Securities, Jefferies & Co., Piper Jaffray & Co., and Stanford Group Company. In these positions, Mr. Xu covered a variety of companies listed in the U.S., including many growth stocks in the technology, energy and solar spaces. Earlier in his career, Mr. Xu worked for seven years as a technical marketing engineer as well as a senior software engineer with Cisco Systems, Inc. in Research Triangle Park, North Carolina.In this role Mr. Xu had operational responsibilities, including conducting competitive analysis and forecasting as well as collaborating with cross-functional teams on a variety of critical projects.

UTStarcom Inc. (Nasdaq: UTSI)

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