January 24th, 2005 — Cervelo Cycles Inc. today announced the resignation of Sam Monardo, General Sales Manager effective April 30, 2005.

Sam will be moving back to Australia in May where he will embark on his own entrepreneurial venture by opening a bicycle shop. “The time is right, and this is a great opportunity,” said Sam. “Besides, my wife Heather is looking forward to getting back to the country she calls home.”

Sam witnessed a great deal of growth during his three-year tenure at Cervelo. His participation in the creation of many of the company’s policies, procedures and systems have been put into daily use and have made the inner workings of the company smoother and more efficient.

The entire staff and management of Cervelo wish him well in his future endeavors, and yes, Sam will be Cervélo’s newest dealer in Sidney come July.