GYRICON MEDIA, INC. ANNOUNCES NEW CEO AND PRESIDENT GEERT DE HAAS

(Palo Alto, CA - June 25, 2001) - Gyricon Media, Inc., a provider of SmartPaper technology and retail signage solutions, announced today that Geert de Haas will become chief executive officer and president of the company, effective immediately, replacing interim CEO Robert Sprague, who will remain as vice president and chief technology officer.

Geert de Haas, a Dutch entrepreneur and angel investor in Gyricon Media, has a proven record of success in taking fledgling companies and transforming them into successful corporations. Mr. De Haas will take the reigns from interim CEO Robert Sprague who has been vital to the creation, production and introduction of SmartPaper and the original prototypes of MaestroSign Systems to the marketplace. Now that Dr. Sprague has taken the product to market and has spurred great demand from current and potential customers, Mr. De Haas will begin to set up the structure and systems that will take the company to the next stage of its development, including increasing production, diversifying revenue streams, hiring managers and raising venture capital. He will also utilize his significant international relationships to raise Gyricon Media's profile overseas, particularly in Europe and the Far East, where there is already substantial interest in SmartPaper.

"I am very excited about the opportunity to take Gyricon Media to the next level and to begin to fulfill the potential of SmartPaper technology," said Geert de Haas, CEO and president of Gyricon Media. "I have been impressed by the reception for this revolutionary product by the marketplace and the media and believe that with strong leadership and structure and an entrepreneurial approach, we can make Gyricon one of the most recognizable names in the technology business."

In addition to earning an MBA at the University of Amsterdam, Geert de Haas has held various senior finance positions in Holland. De Haas spent six years climbing the executive ladder at a group of accounting/consulting companies that included PricewaterhouseCoopers, four years as a financial manager at the foreign office of FGH Bank and 13 years at Felicitas, a Gillette subsidiary, where he began as a senior finance executive, before gaining controlling equity of the company and building it from a 300 person marketing company to an 1100 employee powerhouse.

"We are thrilled to have someone with Geert's experience and poise to lead Gyricon into its next phase," said Robert Sprague, vice president and chief technology officer of Gyricon Media. "The company is off to a great start and we look forward to capitalizing on the significant market interest in SmartPaper technology and all its applications."

About Gyricon Media, Inc.
Headquartered in Palo Alto, CA and with offices in Boston, MA, Gyricon Media Inc. was founded in 2000, after being spun off from Xerox. Gyricon Media, Inc. is comprised of former researchers, from Xerox Corporation's Palo Alto Research Center, who developed SmartPaper? technology and software professionals with expertise in the retail signage software business. Gyricon Media, Inc. is managed by a group of seasoned international executives.