Milestone Hires New Chief Financial Officer

By Milestone Systems, PRNE
Thursday, November 4, 2010

Lars Larsen was Previously VP Finance at Carlsberg Group

COPENHAGEN, November 4, 2010 - Milestone Systems, the open platform company in IP video management
software, announces the hiring of a new Chief Financial Officer, Lars Larsen.
He will be responsible for the finance and human resource operations of the
international organization.

"Lars Larsen has a very strong profile that is clearly reflected in his
previous positions at Carlsberg and Novo Nordisk, but maybe even more
relevant for us from his time with such IT companies as Microsoft and Olicom.
At Milestone we are very focused on aggressively continuing our hyper growth
- and I'm convinced that Lars can help us with this," states Lars Thinggaard,
CEO & President of Milestone Systems.

As Vice President of Group Finance at Carlsberg Breweries, Lars Larsen
was responsible for internal management reporting to the Board of Directors
and external reporting to the Copenhagen Stock Exchange. Prior to that Larsen
was Business Manager for Microsoft Business Solutions EMEA after the
acquisition of Navision, where he was Executive VP, Chief Financial Officer,
responsible for financial management and the legal department, also providing
support for M&A activities. Larsen held similar financial management
positions at Olicom, an IT network component provider listed on NASDAQ and
the Copenhagen Stock Exchange, and at Novo Nordisk. He holds an Executive MBA
and a Bachelor of Science in Business Economics from the Copenhagen Business

At Milestone Systems, Lars Larsen's role as CFO will include managing the
company's global financial operations including accounting, controlling, risk
management, treasury, tax and audits, legal and regulatory affairs, as well
as potential mergers and acquisitions. With responsibility for also
overseeing human resources and administration, he will ensure deeper
internationalization and professionalization of the company together with the
executive management team. Larsen will also focus on a close relationship
with the Chairman of the Board and Index Ventures, who invested $27.5 million
in Milestone Systems in July 2008.

"I am very excited about this opportunity to work for Milestone Systems,
the leader in its sector worldwide. Milestone has huge potential for
continuing to progress, and with the number of dedicated employees expanding
all the time, I look forward to strengthening the synergies between finance
and the organization even more," says CFO Lars Larsen.

About Milestone

Founded in 1998, Milestone Systems is the worldwide industry leader in
open platform IP video management software, according to IMS Research six
years in a row. Milestone XProtect(TM) products have been installed in
thousands of customer installations, sold through authorized and certified
partners in more than 100 countries. With support for the widest choice in
network hardware and integration with other systems, XProtect provides
best-of-breed solutions to 'video enable' organizations - managing risks,
protecting people and assets, optimizing processes, and reducing costs. For
more information please visit

Press Contact: Courtney Dillon Pedersen, PR & Communications Manager, Tel. +45-88-300-330, CDP at MILESTONE.DK

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