Ulteig Adds Two External Executives to Board of Directors   

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(Fargo, ND) – The Ulteig Board of Directors ratified the appointment of two new Board members at the October 2009 Board Meeting. Arnold A. Angeloni and Shepherd G. Pryor IV are the first two external executives to serve on the Ulteig Board.

Arnold A. Angeloni is a professional corporate director with extensive governance experience in a variety of industries and executive management experience spanning over 40 years. Angeloni has served in CEO and senior level positions at companies including Deluxe Corporation and Northcott Hospitality International, LLC (the parent company of AmericInn hotels). At Northcott Hospitality he successfully re-branded AmericInn and implemented a new organizational structure for the hotel chain’s owner/operators. Prior to that, he was a principal at Manchester Companies, Inc., the Upper Midwest’s leading corporate renewal advisory firm. Angeloni also was the co-founder and president of Gateway Alliance, an early stage business incubator focusing on the medical device industry. During his nearly 30 years with Deluxe he assisted in transforming the traditional print business into one that generated over 50% of sales from non-check revenues, created a successful New Business Division and coordinated many successful corporate acquisitions. Angeloni serves as a Director on the Northcott Hospitality International Board and previously served as a Director for the United Way of St. Paul and Angeion Corporation.

Shepherd G. Pryor IV has nearly 40 years of experience as a senior-level financial services executive, corporate director, and management consultant. He currently leads Shepherd G. Pryor IV Management Consulting, a firm serving major financial institutions, Fortune 500 companies, and law firms. He also provides value based management consulting as Managing Director of Board Resources, a division of TeamWork Technologies, Inc. Previously he served as a Senior Vice President and Deputy Group Head for Wells Fargo Bank, N.A., where he was responsible for Corporate Banking in the Midwest, Mountain, and Pacific Northwest states. Pryor has served on the boards of both public and private companies including Taylor Capital Group, HCT Direct Inc., Petrolane, Inc, and Archibald Candy Corporation. He has authored numerous articles and co-authored two books: <strong>Building Value through Strategy, Risk Assessment, and Renewal</strong> (2006 CCH) and <strong>The Private Equity Edge: How Private Equity Players and the World’s Top Companies Build Value and Wealth</strong> (2009 McGraw-Hill).

Angeloni and Pryor join Ulteig Board Members Craig Anderson, Gerry Floden, Brian Long, Gary Ness, Brad Swenson, and Tom Welle.