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ISS Proxy Advisory Services Supports Peerless Nominee for ModusLink Board and Recommend Stockholders Vote the Gold Proxy Card

Peerless Systems Corporation (Nasdaq: PRLS) announces that ISS Proxy Advisory Services, one of the nation's leading independent proxy advisory firms, has concluded that Peerless has made a compelling case that change at the ModusLink Global Solutions, Inc. (Nasdaq: MLNK) Board is needed and recommends a vote on the GOLD proxy card to elect Peerless nominee, Jeffrey Wald, to the ModusLink Board at the upcoming January 20, 2012 Annual Meeting of Stockholders.

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