No Borders appoints Randy Gutierrez COO

Source: No Borders

No Borders, Inc. (OTCBB:NBDR), a Nevada Corporation, announced today the appointment of Randy Gutierrez as Chief Operating Officer, effective July, 2005.

Gutierrez will manage companywide operations for No Borders, and will be responsible for executing the company's strategy and vision of providing low cost stored value card services and products for international consumers.

Mr. Gutierrez joins No Borders with more than 20 years financial payment systems experience in domestic and international money transfer systems and operations, automated clearing house systems and operations, and credit card, bill payment and remittance systems. Mr. Gutierrez spent 15 years with Wells Fargo Bank in a variety of management positions and has spent the last 8 years with BankServ, a San Francisco based electronic payments company. He held a variety of senior management positions that included CIO, CTO and more recently General Manager of the Domestic and International Wire Transfer Divisions.

Mr. Gutierrez was a key member of the BankServ senior management team from its inception as a startup company to profitability and oversaw the increase of its bank customers through organic growth and acquisition. He brings a wealth of technology, operations and sales expertise that will be instrumental in expanding No Borders' domestic and international remittance and payments network through existing and future alliances, while integrating the synergistic revenue generating sources No Borders now has available, with focus and efficiency.

R. M. Rosenfeld, acting CEO of No Borders, said that, "We are more than fortunate to have attracted an individual of the caliber of Mr. Gutierrez. His experience alone in the banking, remittance and stored value card business sectors makes him the ideal person to take over the No Borders' operations as the Company moves to roll-out its products and services on a global basis ... The Company's priorities must be focused on efficiency and the generation of immediate revenue so as to increase shareholder value. Randy Gutierrez very much understands how to effectively provide that focus ... Both Dr Raul Hinojosa and I, from the moment we founded No Borders, understood that once the foundation of the Company was established, moving from the development and pilot stage to a fully operational and profitable enterprise would require us to step down and give way to a new management team experienced in operating and managing a vertically integrated company with separate but synergistic revenue sources. The naming of Randy Gutierrez is the first and very critical step in meeting that requirement."

Randy Gutierrez said that, "My 20 years of experience has given me this great opportunity to manage and direct the operations of No Borders, a very unique company ... No Borders' business plan utilizes unique marketing resources and financial models, with a technology platform ideal for integrating the many quality low cost products and services the Company now offers and shall offer in the future to its massive targeted base of transnational underserved consumers. It is my job to implement and refine the plan in an efficient and focused manner so as to generate profitability in the short term, while at the same time facilitate the intended future exponential growth of the Company's customer base, its network of financial institutional alliances and its overall revenue generating activities."

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