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Russound Announces the Sale of Colorado vNet Corp. As Part of a Larger Strategic Initiative

Newmarket, NH (April 25, 2012) As part of a new strategic business plan, Russound announces the sale of Colorado vNet Corp. to a new company created by its former Vice President of Sales and Marketing and industry veteran, Mike Anderson.

Russound’s 2012 plan focuses on getting back on track with its core business delivering high value electronics, speakers and accessories to the residential and commercial systems integration channels. Its proven competency coupled with a renewed commitment of strengthening its products, brand image, dealer relations and profits is certain to accelerate demand and maintain Russound as the consumer electronics and custom integration brand powerhouse it is.

To help lead this effort the company is seeking to hire a high profiled and proven Vice President of Sales to replace Anderson. In addition, plans are in place to announce a strategic and tactical alliance with a renowned business development company who has been retained to accelerate Russound’s marketing, product development and sales strategy.

The announcement was made today by Charlie Porritt, CEO of Russound. “As we unveil our plans over the next few weeks and months, dealers will see first hand that we are making long-term improvements to benefit all our valued customers,” said Porritt. “The entire Russound team has high enthusiasm and renewed energy for the strategic plan in place. I feel very good about Russound’s future growth and long-term success and it’s all pretty exciting!”

As for immediate plans for Colorado vNet, Anderson is relocating the company’s headquarters to Florida in June 2012. The transition for Colorado vNet dealers, distributors and sales firms will be seamless as the Russound / Colorado vNet team is committed to maintaining all business operations. Colorado vNet will continue as normal with order processing, sales, marketing and technical support from the current Colorado vNet headquarters.

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ABOUT RUSSOUND

Since 1967, innovation, quality and reliability have been the pillars of the Russound® product tradition. Located in Newmarket, N.H., USA, Russound offers the products and expertise customers need to enjoy multiroom audio and video systems in the home. With more than 40 years experience, Russound continues to cater to installation professionals and their customers by pairing powerful systems using the latest technologies with intuitive controls to give customers high-performance, easy-to-use solutions. For more information, visit the company’s website at www.russound.com.

Sales Inquiries: • Tel: 1 (866) 888-7466 toll-free, • email: sales@russound.com

Russound Press Contact: Roberta Lewis, The OAC Group • Tel: 713/665-8758 • email: roberta@theoacgroup.com

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