Nio Security, Inc. Announces New Chief Technology Officer

BOKEELIA, Fla. and OSLO, March 11 /PRNewswire/ -- Nio® Security, Inc. (OSE: NIO) - a world leader in smart video solutions for the security market - today announced the appointment of Monica Andersen as Chief Technology Officer (CTO), managing both the vision and deployment of the company's worldwide R&D resources in Germany, the United States and Norway.

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Joining Chairman & CEO Dr. Espen Brodin and CFO Tore Formo, Ms. Andersen completes the top management team at Nio.  She will be integral to the company's final R&D development of the Satis™ advanced security solution platform, launching soon to dealers and OEMs on six continents.  She will also be managing the development of a range of exciting new individual security products based on Nio's acclaimed, patented video technology.

Ms. Andersen combines a unique and very strong background in both technology and business management, as well as proven entrepreneurial skills in starting Media Lab AS (one of the first companies to develop advanced computer graphics).  

Over the course of her 30+ career, she has undertaken pure research at the University of Oslo in astrophysical simulation and statistical analysis; directed R&D activities at Norsk Titanium Technology AS and Norsk Data AS and managed mission-critical R&D projects at Fast Search & Transfer ASA as well as Andersen Consulting (now Accenture).

"Monica has proven her technical ability in the key technologies that are at the very heart of Nio's competitive edge – algorithmic development and graphics technology.  Her ability to manage complex projects and far-flung teams of scientists and developers will be critical as Nio coordinates our R&D teams to launch Satis, which we fully expect to be a game changer for the security industry," said Dr. Espen Brodin, Chairman & CEO of Nio Security, Inc.  

"Nio offers some of the most advanced video analytics technology on the market today – being able to contribute to the growth of the company at the cusp of launching a major new technology initiative like Satis is a wonderful opportunity," said Monica Andersen, CTO of Nio Security, Inc.  

"Nio is poised to offer ground-breaking new products to satisfy the worldwide need for security products and I am very excited to be part of their R&D and management team. Contributing to both new and existing programs within the company will make 2010 a very busy year for Nio and its customers."

About Nio:

Nio Security, Inc. is a leading developer of intelligent video surveillance solutions for physical security applications. Named after the unsleeping guardians of Buddhist Temples, Nio's unique and patented video surveillance technology provides 'Watchful Intelligence' to a worldwide customer base ranging from Fortune 500® companies and governments to small businesses. Traded on the Oslo Stock Exchange as (OSE: NIO), the company was founded in 1992 and is headquartered in Florida with engineering and development facilities in Munich, Germany, and customer support based in Memphis, TN and Oslo, Norway. Nio markets its products through a worldwide network of certified dealers, distributors, system integrators, and OEM's. Further details are available at www.niosec.com.

Notice on Forward-Looking Statements:

This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Nio or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe Nio's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.

The forward-looking statements included in this release are made only as of the date of this release and Nio undertakes no obligation to update the forward-looking statements to reflect subsequent events or circumstances.

Nio is a registered trademark of Nio Security, Inc. EyeMax is a registered trademark of Nio Security, Inc. Satis is a trademark of Nio Security, Inc. CloseView is a trademark of Nio Security, Inc. All other trademarks and registered trademarks previously cited are the property of their respective owners and are hereby acknowledged. Editor's Note: Images and logos are available from Nio's public relations counsel.

SOURCE Nio Security, Inc.