Glowpoint to Restate Earnings

//October 13, 2006

Around the State – North JerseyHILLSIDE Glowpoint, a provider of video-over-Internet services, has announced it will restate its 2004 financial statements and 2005 quarterly reports and expects to show increased net and operating losses for the periods. The companyÂs current management is working to produce its outstanding financial statements. Glowpoint released its last annual report for the period ended Dec. 31, 2004, and its last quarterly report for the period ended Sept. 30, 2005.

Glowpoint has been changing its executive lineup this year. CEO David Trachtenberg stepped down in April and was replaced by then-COO Michael Brandofino. Ed Heinen went from acting CFO to doing the job on a permanent basis. Glowpoint says it believes the restated reports will also show increases to its selling, general and administration expenses. The company plans to refile its financial statements by the fourth quarter of this year.