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

Peerless Systems Corporation 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. 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.