DOBI MEDICAL INTERNATIONAL NAMES
Mahwah, NJ, February 10, 2004 DOBI Medical International, Inc. (DBMI.OB) announced today that Robert B. Machinist was recently elected by the Board of Directors as its non-executive Chairman of the Board of the Company. Mr. Machinist has extensive experience as a principle investor/operator as well as an owner-operator of diversified investment banking operations.
Since January 2002, he has been serving as a managing partner of M Capital, LLC, a private equity investment firm based in Rye, New York. His career includes over 12 years as president and one of the principle founders of Patricof and Company Capital Corp. and its successor companies, prior to its acquisition by the Bank of New York. From November 1998, until December 2001, he served as managing director and head of investment banking for the Bank of New York and its Capital Markets division. He also served as co-CEO at Midland Capital. His educational background includes a BA from Vassar College and graduate work at the Weizmann Institute in Rehovot, Israel. He is also Chairman of the American Committee for the Weizmann Institute of Science and a member of its International Board of Governors. Mr. Machinist is also a trustee of Vassar College and a member of its executive committee.
Phillip C. Thomas, Chief Executive Officer and a Director of DOBI Medical International, and acting Chairman prior to Mr. Machinists appointment, said I am very pleased that Bob has agreed to take on this important leadership role. His significant experience and resources will be valuable to us as we implement the next phases of our business growth. Additionally, in todays environment of heightened corporate governance, it is noteworthy that the Board has appointed a non-executive, independent director to serve as Chairman and as a member of our Audit Committee. I look forward to working with Bob and our other directors as we continue to build shareholder value.
DOBI Medical International is an advanced development stage
medical imaging company working to create a new means for the improved
diagnosis of cancer through the detection of vascular changes (tumor
angiogenesis) associated specifically with malignant tumors.
Cautionary Statement Regarding Forward
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DOBI Medical International