3K Limited Partnership announced that it has called a shareholders meeting and nominated a slate of directors to replace CLWY's current Board of Directors. 3K has therefore nominated the slate of five independent directors to replace the current Board of Directors. Peter H. Kamin (Boston, Massachusetts) is the founder and Managing Partner of 3K Limited Partnership, a private investment fund.

Jay H. Golding (Houston, Texas) is the President of Port Chester Industries, a merchant banking company. Alan B. Howe (San Diego, California) is a co-founder and the Managing Partner of Broadband Initiatives, LLC, a corporate advisory and consulting firm, and also currently serves as Interim Chief Executive Officer of Sunrise Telecom Inc. Alfred J. Knapp, Jr. (Houston, Texas) is a partner and investment manager with CCM Opportunistic Partners, LP, an investment fund. Terry W. Shaver (Dallas, Texas) is founder, President, Chief Executive Officer and Chairman of the Board of Abatix Corp., a supplier of personal protection and safety equipment and other industrial tools and supplies.

3K's nominees will be responsible stewards of the trust placed in them by CLWY's shareholders and will commit themselves to renewing the company's focus on profitability and returns for the benefit of all shareholders. CLWY shareholders are urged to show their support by voting for 3K's nominees at CLWY's next shareholders meeting.