Digimarc Corp.

Robert Eckel joined the Company in April of 2005 as the President of Digimarc ID Systems, LLC, and has served as President of the Government Program business since August of 2005. Prior to joining us, he served as Vice President and General Manager, Air Traffic Management Systems, for Raytheon Company in Marlboro, Massachusetts, from 1999 to the present. In this capacity he was responsible for the business performance and operations for a portfolio of domestic and international programs as well as developing and maintaining strong Commercial and Department of Defense customer relationships and business partnerships. Prior to this position at Raytheon he held increasing levels of responsibility including Program Director roles for production missile and advanced system development programs from 1995 to 1999, and from 1990 to 1995 he held various levels of technical management in the development of advanced electronic and optical systems. From 1980 to 1990, he served in key managerial and technical leadership capacities in developing electronic systems and large-scale integrated circuits at Hughes Aircraft Company in Canoga Park, California. He holds five patents in electronic and optical systems, and is published in the fields of infrared system development and management. Mr. Eckel holds a B.S.E.E. from the University of Connecticut and an M.S.E.E. from the University of California, Los Angeles.

Michael E. McConnell has served as our chief financial officer and treasurer since June 2004. Prior to joining Digimarc, from January 2001 until June 2004, Mr. McConnell was senior vice president, chief financial officer and treasurer at WatchGuard Technologies, a public internet security company. He also held other various senior management positions during his tenure at WatchGuard, including chief financial officer and treasurer from October 2000 to June 2004 and vice president of finance from May 1999 to October 2000. From 1979 to May 1999, he served as chief financial officer of several technology companies, both public and private. Mr. McConnell served at Deloitte & Touche, an international auditing and accounting firm from 1973 to 1979. Mr. McConnell is a CPA and holds a B.A. from California Polytechnic State University, San Luis Obispo.

Robert Chamness has served as our Vice President and General Counsel since January 2002, was elected Secretary in February 2002, was elected Vice President of Human Resources in October 2002, and was elected Chief Legal Officer in May 2003. Prior to joining Digimarc, from 1995 to 2000, Mr. Chamness was president, chief operating officer and a director of Concentrex Incorporated (previously CFI ProServices, Inc.), a publicly-traded Portland, Oregon based software and services company, where he also served as executive vice president, general counsel, and a director from 1993 to 1995. While at Concentrex, Mr. Chamness was responsible for managing and integrating the operations at 12 locations nationwide, leading the acquisition and integration of more than a dozen companies, and building the executive team. Concentrex was acquired by the John Harland Company in August 2000, and after completing transition responsibilities in December 2000, Mr. Chamness retired. Prior to that, Mr. Chamness practiced law in San Francisco, Washington, D.C., and Indianapolis from 1978 to 1993. A nationally recognized expert in financial services, Mr. Chamness chaired the Consumer Financial Services Committee of the American Bar Association's Business Law Section, served as president of the American College of Consumer Financial Services Lawyers, and received the American Bankers Association Distinguished Service Award. Mr. Chamness holds an A.B. cum laude from Wabash College and a J.D. summa cum laude from the Indiana University School of Law.

Reed Stager serves as Executive Vice President and leads Digimarc's Media and Entertainment initiatives and the company's intellectual property licensing, corporate and marketing communications, and public policy activities. He also currently serves as chair of the Government Affairs Committee of the Document Security Alliance (DSA), on the board of the International Imaging Industry Association, and on the Portland Citizens Crime Commission. Prior to joining Digimarc in May of 2000, Mr. Stager was vice president of marketing and business development for the PVCS Division of MERANT, Inc. from April 1997 to May 2000. From April 1993 through March 1997, Mr. Stager was general manager of In Focus Systems Services businesses and director of worldwide marketing at In Focus Systems. Prior to that, Mr. Stager held management positions at Tektronix and Mentor Graphics. Mr. Stager has over 20 years experience in high technology marketing, business development, strategic planning, services and operations. Mr. Stager holds an M.B.A. from Portland State University and a B.S. in Business from Lewis and Clark College.

Andy Mallinger has more than 20 years experience launching and growing innovative software products and services. Mallinger joined RNA after 5 years leading product management and product marketing for the secure identity division at Digimarc, which was acquired by L1 Identity Solutions. Prior to joining Digimarc, Mallinger held several product, marketing and leadership roles for enterprise software companies such as InstallShield Software Corporation, and CenterSpan Communications who created the first secure P2P based CDN. Andy received his BA in Computer Science and Economics from Denison University and MBA from Kellogg School of Management at Northwestern University.

Bern Whitney was elected to our Board of Directors in June 2005. Mr. Whitney is a retired corporate executive with twenty-four years' experience in the high technology and finance sectors, and has since 2002 served as an independent director and consultant. From June 1999 to July 2002, Mr. Whitney was the former vice president and CFO of Handspring, Inc, a handheld computer and wireless communications manufacturer. From August 1997 to June 1999, Mr. Whitney was the former executive vice president and CFO of Sanmina Corporation, a high-end data com and telecom manufacturer. He served as the former vice president of finance & manufacturing operations (1996-1997) and corporate controller (1995-1996) of Network General Corporation, a developer of network management software. From 1987 to 1995, Mr. Whitney held a number of senior financial management positions at Conner Peripherals, Inc., a disk and tape drive manufacturer. He began his career in financial analysis and accounting at Friden Alcatel, an electronic office equipment supplier, from 1983 to 1987, and Randtron Systems, and electronic antenna systems manufacturer, from 1981 to 1983. Mr. Whitney currently serves as a director for Plumtree Software, Inc. (Nasdaq: PLUM) (audit committee chair, corporate governance committee member) and the California State University Business School. Mr. Whitney received a B.S. in business administration, majoring in finance, from California State University Chico and a masters of business administration from San Jose State University.

Mr. Brian Grossi has been providing seed and early stage financing to high technology firms in Silicon Valley and Southern California since 1982 In 1994, Mr. Grossi co-founded AVI Capital, a Participating Securities Small Business Investment Company, with resources of $75 million. Earlier, in 1982, Mr. Grossi co-founded Alpha Partners, capitalized with $13.5 million, and extended in 1985 with a $3.5 million annex fund; Alpha Partners II was capitalized in 1984 with $22.5 million; Alpha Partners III was capitalized in 1988 with $50.5 million. Prior to his career in venture capital, Mr. Grossi's assignments included stints at the R & D department of the Opto-Electronics division of Hewlett-Packard and at the Stanford Research Institute (SRI) as a Research Engineer and Project Leader. Mr. Grossi serves as a Fellow of the American Leadership Forum of Silicon Valley, and a Board Member of the National Association of Small Business Investment Companies. Mr. Grossi graduated from Stanford University in 1973 earning a B.S. with distinction and M.S. in Mechanical Engineering. Additional honors included a Tau Beta Pi Honeywell Fellowship, election to Phi Beta Kappa and the Terman Award for Engineering Excellence.

James Richardson has led an illustrious career in high tech over the past 25 years, and now acts as a consultant to high tech companies. His experience includes service as senior vice president and chief financial officer of WebTrends Corporation, which merged with NetIQ Corporation in March of 2001. Prior to WebTrends, Richardson was vice president and chief financial officer at Network General Corporation. There he managed the $1.2 billion merger with McAfee Associates, resulting in the creation of Network Associates. Before that, Richardson was vice president and chief financial officer of Logic Modeling Corporation, now a division of Synopsis, and vice president and chief financial officer of Advanced Logic Research. Additionally, Richardson is a member of several committees including, FEI Company-Audit Committee Member, Digimarc Corporation-Audit Committee Chair, Governance Committee Member and Plumtree Software-Compensation Committee Chair & Audit and Nominating Committee Member. He holds a doctorate degree in law, cum laude, from Northwestern School of Law of Lewis and Clark College and a master's degree in business administration from the University of Portland.

Philip J. Monego, Sr. is Managing Partner of Techology Perspectives Partners, LLC, and early-stage investment fund focused on consumer products and Web-based consumer services. He is also a Venture Partner with Media Technology Venture (Allegis Capital), President and Founder of Technology Perspectives, and a former interim CEO and chairman at Yahoo! Philip earned an Executive M.B.A. from Stanford University, and a B.A. in Management from LaSalle University.