Industrial Manufacturing News

Ilan Danieli had served as a consultant to Osiris and to its subsidiaries and before that was Vice President of Operations at Laurus Capital Management, a hedge fund at which he managed the distressed investments within the fund's portfolio, and worked with companies requiring restructuring and turnaround from failing to profitable performance.

Petter Etholm said, "We are pleased Ilan is officially joining our management team and we are confident that with his proven expertise, he will make a major contribution to our future success."

Osiris is a holding company with subsidiaries engaged in manufacture and global distribution and marketing of skid steer loaders for construction, agricultural and other industries, the production and distribution of pneumatic and hydraulic systems for industrial use and the design and marketing of wireless devices for the telecommunications industry.

"Ilan will be involved in all areas of business operations at Osiris," said the company President. "At Thomas Equipment, for example, he will oversee plans to increase skid steer loader business, now achieving gains, and help Thomas build business in existing markets, expand to new territories and a variety of programs to better serve our valued dealers and customers at each of Osiris' operating companies."

Ilan Danieli said, "I am excited to have an opportunity to contribute to the success of Osiris. The iconic Thomas brand, for example, has been a standard of skid steer loader excellence for 65 years and we will work to regain market share and build its decades of goodwill. At Pneutech-Rousseau, Osiris' unit specializing in design engineering, manufacture and distribution of pneumatic and hydraulic systems and components, we have significant opportunities for growth. The operating units have excellent management and I look forward to working closely with them in the years ahead."

Osiris, online at www.osiriscorp.net, is the former Thomas Equipment, and is emerging from a period of financial difficulty. The company has embarked on a restructuring program to regain its market position and financial strength and has manufacturing plants in Canada and South Korea.

Osiris operating units include:

Thomas Equipment, online at www.thomasloaders.com, which operates a network of dealers and distributors of Thomas Skid Steer and Mini Skid Steer loaders.
Pneutech-Rousseau Inc., online at www.pneutech-rousseau.com, which specializes in the design engineering, manufacture and distribution of pneumatic and hydraulic systems and components for automation and motion control applications.
TcomT Inc., online at www.tcomt.com, which designs wireless telecommunications products.

Earlier in Ilan Danieli's career, he was co-owner of Link Productions, a design and print company, and was Director of Marketing at Magnolia Broadband, a wireless and semiconductor company and began his career as a Branch Manager of the Israeli Cancer Society.

He holds a Bachelor of Arts degree in Economics from Bar-Ilan University, Tel Aviv, and a Master of Business Administration degree from the Darden School of Business at the University of Virginia. A duel citizen of the European Union and Israel, Ilan Danieli and his wife have a child and live in New Jersey. A pilot and sportsman, he served in the Israeli Army as a tank commander.

About Osiris
Osiris Corporation (OSRS), online at www.osiriscorp.net, is a global holding company based in New York, Boston and Omaha, and is dedicated to building business in the industrial, agricultural and related business sectors. Osiris' operating subsidiaries are located in North America (Canada), Europe, and Asia. Subsidiaries of Osiris consist of Thomas Equipment, Inc. and its units, which provide branded and other products to the industrial markets; Thomas Equipment Asia Co. Ltd.; Thomas Ventures, Inc., Pneutech-Rousseau, Inc. and TcomT Inc. Osiris' units manufacture and market industrial and construction equipment, distribute pneumatic and hydraulic systems and design wireless devices for the telecommunications industry, among other activities.

Safe Harbor Statement
Under the Private Securities Litigation Act of 1995 - This press release discusses forward-looking statements with risks and uncertainties. OSRS results could differ materially due to various factors, including inability to finance operations or expansion and hire or retain personnel, economy and interest rate changes, and events such as terrorism. OSRS believes statements to be reasonable, but neither OSRS nor any other person can represent they will be achieved. OSRS is not obligated to update statements due to new information, events or otherwise. Please see the risk factors associated with our Company and review our SEC filings.