Resignation

Yesterday Microsoft sent a note to the RealNames Board of Directors asking a number of things. I published the note and a rebuttal.

Today I convened a meeting of the Board, as Chairman, and a number of decisions were taken.

Firstly the RealNames Board gave full consideration to the issue of the costs of winding down the company. A full appraisal led to the conclusion that the costs were in line with industry norms and not excessive. Of course, all efforts are continuing to be made to contain those costs whilst maximizing the value of RealNames considerable assets.

Secondly the RealNames Board demanded that I remove private documents from this web site and requested that I close the site down. As a Director I voted in favor of this motion. It was the right thing for the Board to favor. However, as a private individual, I respectfully told the Board that I would not be complying with either the demand nor the request. The Board asked for my resignation as a Director and I accepted the request. I am therefore no longer a member of the RealNames Board of Directors.

The Board then considered my position as a paid consultant, working to ensure the maximum return for investors, and creditors, for the assets of the company. It decided that I should continue in that role.

These decisions are good for RealNames, and good for me. It should now be very clear, if it was not already, that this web site is a private vehicle for my views and that the decisions I make as to what I post are those of a private individual. As I said yesterday. The Board of RealNames has no mandate to tell me what I do in my own Garage.

Keith Teare

Former CEO
RealNames Corporation

5:32:57 PM