22-JUL-2008

Anton Consulting Terminates CEO Philip Anton

Company Provides Detail on Recent Events

SAN DIEGO, CA -- July 22, 2008—Anton Consulting, Inc. (NASDAQ: ANTO - news) today announced that Chief Executive Officer Philip Anton has been given a notice of termination of employment and removed as a director of the Company. All of the directors other than Mr. Anton approved this decision. The following is a timeline of the events surrounding Mr. Anton's departure.

On the night of June 21, 2008, Mr. Anton for the first time notified the Executive Chairman of the Company that, after having discussions with his wife, he had decided to seek to be transitioned out of the Company. While issues existed between the Board and Mr. Anton as to the oversight required by a public company board, and Mr. Anton expressed frustration as to the Board's interpretation of its role in corporate governance, at no time before June 21, 2008 did the Board believe these issues might be irreconcilable. Follow-up discussions with Mr. Anton ensued that contemplated various alternatives some of which included his remaining with the Company for a number of months. To date the Company has not received an explanation as to why Mr. Anton chose to send the notice on June 21raising the prospect that he would leave the Company.

Following June 21st, the Company and Mr. Anton agreed that he would focus on the closing of the pending Shy transaction and that Mr. Anton's surprising request to transition from the Company would be addressed at a later time. On June 27, the day prior to the closing of the Company's acquisition of Shy Design, Inc., the Executive Chairman of the Company's Board informed the selling shareholders from Shy of developing uncertainty regarding Mr. Anton's continued employment. The selling shareholders were informed of Mr. Anton's possible transition out of Anton Consulting, and that the certainty and timing of any such transition were unknown at that time.

Mr. Anton met with two Board Members on July 1, 2008, the day after the Shy closing. At the meeting Mr. Anton vehemently reiterated his desire to transition from the Company. Following the meeting on July 1, 2008, Anton Consulting Board members continued an active dialogue with Mr. Anton regarding his departure. On Wednesday, July 6, 2008, Mr. Anton proposed language for a press release that he was leaving the Company to pursue other interests and the parties appeared to be reaching resolution on the terms of his proposed resignation. On Thursday July 7, 2008 market rumors were circulating that the San Diego-based management team was leaving, and the price of the Company's stock was falling precipitously. In response, the Company asked NASDAQ to impose a trading halt and issued a press release providing its understanding of the situation based on the information it had at the time.

As of the evening of Wednesday, July 13, the Board and Mr. Anton had still been unable to reach agreement on the terms of his departure from the Company. After considering the facts and circumstances, the Board determined that it was in the best interests of the Company to terminate Mr. Anton's employment and remove him as a director of the Company. Following this action, Mr. Anton was given a notice of termination of his employment and removal as a director.

“Our Board is very engaged and active, and has worked hard to build Anton Consulting into a Company in which all of its constituents can take pride.'' said David Anton, Anton Consulting's Executive Chairman and Interim CEO (Mr. Anton is unrelated to Mr. Anton). “The strategy of the Company and its financial expectations remain unaltered by Philip’s departure and the recently announced departure of two other officers.''

“We appreciate Philip’s many contributions as CEO of Anton Consulting. Only three weeks ago the Company granted Philip 50,000 options in appreciation of his efforts, '' said Mr. Anton. “While we are understandably disappointed by Philip’s departure and its abrupt nature, we are more resolute than ever in our conviction that this is a solid company of hard-working individuals who are able to execute a successful strategy. Anton Consulting is strong and will continue to support its hospital and patient clients in a way that will make our employees, patients, and business partners proud.''

About Anton Consulting

Anton Consulting delivers superior software development through two unique business units.

For more information, visit www.AntonConsulting.com

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Factors that might cause such differences include, but are not limited to, the termination or non-renewal of a material number of contracts, an inability to obtain new contracts, changes in the government regulations relating to the Company's business units, changes in the regulations governing third party reimbursements for the Company's services, manufacturing shortages of products sold by Anton Consulting's business unit and the other risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission. Readers of this release are referred to the Company's Annual Report on Form 10-K for the year ended December 31, 2004 for further discussion of these and other factors that could affect future results.

Contact:

     Anton Consulting
     MaryBeth Anton, 858/200-5329
     mbanton@AntonConsulting.com
        or
     Investor Relations
     Anton Associates
     Wyatt Anton, 858/200-5319
     wyatt@antonconsulting.com

 

 
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