On December 24, 2013, the board of directors of Pharma-Bio Serv, Inc. appointed Nélida Plaza ('Ms. N. Plaza') as Chief Operating Officer of the company, effective January 1, 2014. Ms. N. Plaza will also continue to serve as Secretary of the company. Ms. N. Plaza previously served as the Company's Acting President and Chief Executive Officer from January 2013 until December 31, 2013, Vice President of Operations of Pharma-Bio Serv PR, Inc. from January 2004 until December 31, 2013, and the Company's President of Puerto Rico Operations from December 2009 until December 31, 2013.

Also, on December 24, 2013, the Board appointed Elizabeth Plaza ('Ms. E. Plaza') as Principal Executive Officer of the company for purposes of Securities and Exchange Commission reporting, effective January 1, 2014. Ms. E. Plaza will also continue to serve as Chairman of the Board.