Telewest Chief Joins QXL Board

[London, ENGLAND] Adam Singer, group chief executive of U.K.
cable operator Telewest Communications, is to join the board
of European online auctioneer QXL ricardo plc, it was announced
Friday.

Singer’s agreement to serve on the board will be seen as
a vote of confidence in QXL, the most prominent member of
the “99 percent club” — dot-coms that lost 99 percent of
their equity value in 2000.

“Adam brings many years experience in the media and
telecommunications industries, and will strengthen in
particular our understanding of interactive cable services,”
said Jim Rose, chief executive of QXL ricardo.

48-year-old Adam Singer was chairman and chief executive of
pay-television channel provider Flextech plc before joining
Telewest in May 2000. He is also a non-executive director of
ITV franchise-holder and newspapers group SMG plc.

Observing that e-commerce is here to stay, Singer noted that
it would be further reinforced by the arrival of new high-speed
forms of distribution.

“What better place can there be to observe this revolution
and contribute to it than at QXL, which is one of the most
exciting of the new media companies to have emerged in the
past few years?” queried Singer rhetorically.

Singer went on to insist that QXL has what he called “a robust
business model and great potential for further growth.”

QXL operates in Germany, France, Italy, the Netherlands,
Norway, Denmark, Spain, Poland, Sweden, Finland, Belgium,
Switzerland and the U.K.