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Johann Butting Named CEO of RichFX

(January 16, 2002)
RichFX Inc. announced today that Dr. Johann Butting has been named Chief Executive Officer. Johann Butting joins RichFX from Bertelsmann AG where he most recently served as Chief Executive Officer of the media conglomerate's subsidiary Digital World Services.

He assumes the role held by RichFX co-founder Tal Kerret, who is taking on new responsibilities at the company as head of Business Development, focusing on new market opportunities.

RichFX Chairman Chemi Peres said, "Having Johann Butting join our company is a tremendous development signaling that RichFX has reached an important new level of growth. In addition to being one of the world's digital media visionaries, Johann is a proven business leader. He has a track record of success in identifying key emerging technologies, developing innovative software products with convincing customer value, and gaining adoption of these products in the entertainment and high-tech industries. Johann truly is a great fit for RichFX as we execute our company's next stage of growth and continue to expand the boundaries of multimedia on the Web."

Johann Butting said, "The Internet is currently undergoing a fundamental change from an information medium to an experience medium. Consumers increasingly expect the Web to provide entertaining content and look for emotionally engaging offerings. Few companies are as well positioned as RichFX to benefit from this trend and in fact to become one of its leaders. I am extremely excited about RichFX's potential and am glad to have the opportunity to help the company build on its accomplishments as it further increases revenue and adoption of its technology."

Johann Butting also noted, "RichFX has had tremendous success under Tal Kerret's leadership, establishing itself as an industry leader, solidifying relationships with a broad array of high profile clients and building a strong financial base. I am very pleased that RichFX will continue to benefit from Tal's expertise and unrivaled energy as he takes on a new role and leads our expansion into new markets."

Johann Butting is recognized as one of the media industry's leading authorities on emerging Internet technologies and the online distribution of digital content. At Bertelsmann, he served as CEO of the subsidiary Digital World Services, which specializes in digital rights management (DRM) solutions and services. Before creating Digital World Services in 1999, Dr. Butting served as Head of Strategy at BMG Storage Media and ran the New Technologies Group of Bertelsmann AG. Prior to joining Bertelsmann, he was part of the economics faculty at Heidelberg University in Germany.

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