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| Reduces Board Size - 04/26/2006 | |
| HAUPPAUGE, N.Y., April 26, 2006 -- United-Guardian, Inc.,
a manufacturer of personal and health care products, pharmaceuticals, cosmetic bases, and specialty industrial products, announced today that Charles Castanza, a valued employee of the company for almost 49 years and a member of its Board of Directors for 24 years, has, at the request of the company, resigned from the Board to enable the company to comply with an American Stock Exchange requirement that independent directors comprise at least 50% of the Board. Mr. Castanza's resignation leaves the Board with eight members, four of whom are independent under Amex guidelines.
Ken Globus, President of the company, stated "Charlie Castanza has been invaluable asset to this company and one of the reasons for the steady profitability of the company over recent years. He has always had the best interests of the company at heart, which is why he has agreed to step down for the present time. We very much appreciate his willingness to do this for the company, and it is our hope that we will be able to invite him to rejoin the Board as soon as circumstances allow." | |
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