QIP Welcomes Jordan Clements to the Board of Directors

March 8 , 2002 - Lake Forest, CA - (BUSINESS WIRE) -- Jordan Clements, 45, Managing Director of Peterson Capital, a Salt Lake City-based private equity firm with over 30 principal investments ranging in size from $500,000 to $10,000,000, has joined the Board of Directors of Quality Imaging Products (www.qip.net), a worldwide leader in toner and inkjet cartridge manufacturing.  Martin Stein, QIP’s CEO, commented, “We are honored that Mr. Clements has agreed to join the Board.  His experiences as an advisor to CEO’s of high growth companies, as a board member of companies in a broad range of industries, and as a corporate attorney have made him a prominent leader in the private equity community.  His guidance and strategic vision will ensure that QIP remains at the forefront of quality, service, and innovation.”

Mr. Clements added, “Over the past decade, QIP has done a tremendous job creating value for customers by setting the standard for quality and operational excellence in the imaging supplies industry.  As competition increases and customers demand higher quality, QIP is well positioned to remain the dominant player in the industry.  I am pleased to be a part of the QIP organization and look forward to maintaining their tradition of success.”

Peterson Capital has been involved in the growth and development of over 30 different companies, including Asurion, the nation’s leading wireless roadside assistance company with over 80 million subscribers; Instashred Security Services, the leading document destruction company in the United States (recently purchased by Brambles of Australia); and jetBlue, which as a result of its high quality service, has been named the “Best Domestic Airline” by Conde Nast magazine, the “Favorite Airline” by the Orange County Register, the “Best Overall Airline” by Onboard Service Awards, and the “Five Star Airline” by the North American Travel Journalists Association.  Prior to joining Peterson Capital in 1995, Mr. Clements was a practicing corporate attorney in San Francisco for approximately 13 years.  His practice focused on building emerging companies in a broad range of different industries.  He has significant experience in the role of advisor to CEO’s of high growth companies and acts in this capacity with many of Peterson Capitals’ portfolio companies.  In addition to serving on the Board of Quality Imaging Products, Mr. Clements currently serves on the Boards of Diamond Rental, Essex Capital, Certico Verification Services, Tax One, and Asphalt Zipper.

Mr. Clements received his JD from BYU Law School.

Quality Imaging Products is a worldwide leader in imaging solutions. Customers look to QIP to provide them with high quality, environmentally friendly, low-cost solutions to their imaging needs. QIP's largest market is North America where it sells primarily through wholesalers, office products dealers, OEMs, computer products dealers, and printer service technicians.

QIP manufactures over 480,000 cartridges per year and employs 160 associates at its 30,000 square foot state-of-the-art facility in Lake Forest, California. QIP currently offers over 100 different product lines.  For more information on Quality Imaging Products, visit www.qip.net or call (800) 423-8600.