Former Lehman Brothers exec Steven Levy replaces George Middlemas on Tuts Systems's board of directors

October 28, 2005

1 Min Read

LAKE OSWEGO -- Tut Systems Inc. (Nasdaq: TUTS), an industry leader enabling the delivery of next-generation data and video services over broadband networks, today announced that the its Board of Directors unanimously elected Steven Levy as a Director. Mr. Levy will serve for the remainder of George Middlemas' term and stand for election as a Director at the 2006 Annual Meeting. After serving more than 10 years as a Director of the company, Mr. Middlemas resigned from the Board of Directors to more actively focus on his venture capital business.

"We thank George for his ten plus years as a member of Tut Systems' Board of Directors. He has provided the Board and our management team with valuable guidance and leadership," said Sal D'Auria, Chairman, President and CEO of Tut Systems, Inc. "I am very pleased that Steve Levy has joined our Board. Steve's experience both as a leading Wall Street analyst for more than 19 years and his telecommunications industry management experience will provide our Board and company invaluable knowledge as we pursue exciting opportunities in the IPTV market."

Mr. Levy brings with him more than 19 years of Wall Street experience. Mr. Levy most recently served as Managing Director and Global Head of Communications Technology Research at Lehman Brothers. Before joining Lehman Brothers, Mr. Levy was a Director of Telecommunications Research at Salomon Brothers, Managing Director and Head of the Communications Research Team at Oppenheimer & Co. and a senior communications analyst at Hambrecht & Quist. Mr. Levy received his M.B.A. and his B.S. in Materials Engineering from Rensselaer Polytechnic Institute in 1980 and 1978, respectively.

Tut Systems Inc.

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