Manas Appoints New Independent Director

Manas announced that the Board of Directors has unanimously appointed Dr. Richard Schenz as an Independent Director.

"We are pleased to welcome Dr. Richard Schenz as a member of Manas' board," stated Heinz J. Scholz, Manas's Chairman of the Board. "With his experience and expertise as the former CEO of OMV, Central Europe's leading oil and gas company, we see him becoming a valuable contributor to Manas's future."

Dr. Schenz studied technical physics in Vienna and finished with a PhD. In 1969 he started his career with the Austrian oil & gas company OMV, and was its CEO from 1992 to 2001.

In 2001 Dr. Schenz was appointed representative for the Austrian Capital Market by the Austrian government. Additionally Dr. Schenz holds the positions of Vice President of the Austrian Federal Economic Chamber and President of the International Chamber of Commerce in Austria (ICC-Austria). In 2002 he was appointed Chairman of the Austrian commission for Corporate Governance.