Leibov was the founder, chief executive officer and chairman of Corbina Telecom, from its inception until 2007. He grew Corbina Telecom from a startup into a far-flung enterprise providing various services all through the Russian markets. During his stewardship, Corbina Telecom was sold at consecutively higher prices three times, ultimately for more than $300 million. Thereafter, he was the chairman and president of IDT Telecom until April 2008, managing numerous divisions of IDT Telecom and offices in almost 30 countries.

Leibov has a Masters of Science degree in mathematics and applied computer science from the Moscow University.

We welcome Mr. Leibov to our board, and are privileged to have such an outstanding entrepreneur advising Powersafe, stated Jack N. Mayer, president of Powersafe Technology. Mr. Leibov brings valued expertise in building successful products and companies and will be a strong asset.

I am very pleased to join the Powersafe Technology board of directors at this time, stated Leibov. They have a compelling market opportunity and have already made great progress in commercializing their patented technologies.

Powersafe Technology is a US-based developer of new solid-state semiconductor technology solution.