NEWS RELEASE
CED Elects New Board of Directors for 2004-2005
Inspire Pharmaceuticals’ CEO Christy Shaffer is Chair-Elect

June 17, 2004, Research Triangle Park, NC – The Council for Entrepreneurial Development (CED) has elected its new 2004-2005 board of directors to lead the organization through its next year of operations. Jeff Clark, managing general partner with Durham-based The Aurora Funds, will serve as chairman for 2004-2005. In addition, CED has named Christy Shaffer, CEO of Durham-based Inspire Pharmaceuticals, as chair-elect for 2005-2006.

CED President Monica Doss said the new board includes entrepreneurial executives, investors and service providers who bring a wide range of ideas, skills and backgrounds.

“CED's board members will work diligently to enhance the area's entrepreneurial climate,” said Doss. “We are fortunate to attract the caliber of leaders who are all so giving of their time and energy.”

Clark succeeds Les Bethune, a partner with Ernst & Young LLP, as chairman. Christy Shaffer will take over the reigns as chairman in June 2005. The new members of the board of directors include the following:

· Steve Clark, Spectrasite 
· Mike Constantino, Ernst & Young, LLP
· John Glushik, Intersouth Partners
· Brooks Malone, Hughes Pittman & Gupton
· Robert McMahan, Sr., Sci-Tech Advisor to Gov. Easley
· Anastasia Pucci, Conlan and Carlyle
· Joan Siefert Rose, WUNC-FM
· John Stewart, Deloitte & Touche LLP
· Roy Watson, Blue Cross Blue Shield of North Carolina
· Steve Wiehe, SciQuest
· Mark Woodmansee, IBM

The new board members join the following existing members:

· Susan K. Acker-Walsh, Constella Group
· Leslie M. Alexandre, North Carolina Biotechnology Center
· Dan Allred, Silicon Valley Bank
· Peyton C. Anderson, Affinergy
· Chris M. Austen, BuildLinks, Inc.
· Salim A. L. Bhatia, Trinity Convergence, Inc.
· Jud Bowman, PowerByHand, Inc.
· Michael Brader-Araje, truePilot, LLC
· Kent F. Christison, Kennedy Covington Lobdell & Hickman, LLP
· B. Jefferson Clark, The Aurora Funds
· Reid Conrad, Commerciality
· Peter J. Coode, PricewaterhouseCoopers, LLP
· W. Mark Crowell, UNC-Chapel Hill
· Walter E. Daniels, Daniels Daniels & Verdonik, P.A.
· Richard Daugherty
· Mike Doernberg, DoubleClick, Inc.
· Tom Finegan, Clarkston Consulting
· O. Gene Gabbard
· John Glushik, Intersouth Partners
· Bill Gwyn, Maupin Taylor, P.A.
· Robbie Hardy, Silk Road Partners
· Deborah J. Hylton, Womble Carlyle Sandridge & Rice, P.L.L.C.
· Brent J. Keating, RBC Centura Bank
· Pam Kirby
· Byron B. Kirkland, Smith Anderson Blount Dorsett Mitchell & Jernigan, L.L.P.
· Mark E. Larson, Grant Thornton LLP
· Rich Lee, Springboard Managed Hosting
· Chris Lynch, Wyrick Robbins Yates & Ponton, LLP
· Robert E. Mallernee, U.S. Trust Company Of North Carolina
· Joel S. Marcus, Alexandria Real Estate Equities, Inc.
· Brad S. Markoff, Alston & Bird LLP
· Merrill M. Mason, Hutchison & Mason PLLC
· Chris Matton, Kilpatrick Stockton LLP
· Allen S. Moseley, Noro-Moseley Partners
· Donovan Moxey, Interactive Multimedia Solutions, Inc.
· Bob G. Mulligan, Aon
· Beverly R. Murray, R+M
· Mary Musacchia, SAS Institute Inc.
· Arthur M. Pappas, A.M. Pappas & Assoc.
· Jeff Reid, The Kenan-Flagler Business School, UNC
· David P. Rizzo, MCNC
· C. Douglass Riddle, Wachovia Bank, NA
· Sallie Shuping Russell, Quellos Group, LLC
· Christy Shaffer, Inspire Pharmaceuticals, Inc.
· Matthew Szulik, Red Hat, Inc.
· Ray Vaughn, Bank of America
· Richard West
· April Young, Comerica, Technology & Life Sciences Division
· Peter Young, AlphaVax

About CED: The Council for Entrepreneurial Development, located in Research Triangle Park, NC, is a private, non-profit organization formed in 1984 to stimulate the creation and growth of high-impact companies in the greater Research Triangle region. CED provides education, mentoring and capital formation resources to new and existing high-growth entrepreneurs through annual conferences, seminars, workshops and monthly programs on entrepreneurial management and finance. CED, which celebrates its 20th anniversary in 2004, is the largest entrepreneurial support organization in the nation with more than 3,500 members representing 1,000 entrepreneurial companies, financiers and professional firms. www.cednc.org

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Contact:  Robert Albright  |  CED Public Relations Manager  |  ralbright@cednc.org  |  919-549-7500 ext. 123

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