The hiring of three new senior executives who will be based at the Company's San Diego, CA headquarters has been today announced by Semtek Innovative Solutions Corporation. Daniel Carter, Nashina Asaria, and Michael Struttmann will each report to Semtek's Chief Executive, Patrick Hazel.

Being most recently the Director of Business Development for Qualcomm, Ms. Asaria was responsible for developing and executing business strategy related to Qualcomm's Mobile Commerce Platform. She was a Senior Project Manager at Cubic Corp prior to that. Ms. Asaria, after graduation from the London School of Economics (BS, 1996), became a Senior Business Consultant for Price Waterhouse Coopers in Kenya, the UK, and Canada. Ms. Asaria has been appointed Vice President and Director of Program Management.

Being most recently the Chief Financial Officer of Charlotte Russe Holding, Inc., Mr. Carter was prior to that, the Chief Financial Officer of Price Enterprises and was VP-Finance for the "Price Club" prior to its merger with Costco Wholesale. Begining his financial management career at Ernst & Young in 1979, Mr. Carter is a Certified Public Accountant. He graduated from the University of Oklahoma (BBA, 1979). At Semtek, Mr. Carter has been appointed Chief Financial Officer.

Being most recently the Vice President and Senior Sales Officer for National Accounts for Bank of America Merchant Services, Mr. Struttmann was prior to that the Vice President of Sales and Marketing for EWI and a Vice President for Miller Zell, one of the world's leading retail consulting agencies with clients including Blockbuster, Exxon Mobil, and 7-Eleven stores. Mr. Struttmann is a 1992 graduate (BA) of the University of Texas. At Semtek, Mr. Struttmann has been appointed Vice President and Director, Global Business Development.

Patrick Hazel, Chief Executive declared: "Each of these executives brings to our team the ability to manage high growth and the high expectations of the electronic payments sector as our technologies begin their commercial adoption phase". He adds: "These executives represent our commitment to meeting worldwide customer demand with thoughtful and experienced professionals."