MUCP
Float is 2.90 million
currently 0.78 x .8125
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Tuesday June 2, 12:27 pm Eastern Time
Company Press Release
SOURCE: MSU Corporation
MSU Corp. Introduces New Version of Internet Access Device
CENTRAL MILTON KEYNES, U.K., June 2 /PRNewswire/ -- MSU Corporation (OTC Bulletin Board: MUCP - news) today said, following completion of its third-party licensing arrangement detailed in its recent 10-Q, the company has completed the development of an updated, state-of-the-art version of its proprietary Internet Access Device.
The product, which utilizes MSU's proprietary Slipstream(TM) technology, allows a user to access the Internet without the use of a computer. The product features several user-friendly functions not found in earlier versions, including improved and simplified operation for Internet browsing, e-mailing and enhanced picture quality.
Incorporating an open platform, the MSU Internet Access Device can be used with any TV system anywhere in the world and can be factory programmed to the specifications of any ISP (Internet Service Provider) or left open for the customer's own choice of ISP.
MSU, together with its manufacturing partner, Mitac, has thus far shipped some 15,000 production and sample units of the product to over 300 customers worldwide. Mitac, which had 1997 revenues of over $5 billion, is one of Taiwan's largest makers of PC's and peripherals.
Wyn Holloway, MSU Chairman, said he believed the product positions MSU favorably among the array of other companies marketing Internet access devices to consumers who do not own or want a PC, but who do desire a low-cost and easy to use product with which to access the Internet and send and receive e-mail.
According to the March 1998 Screen Digest, market research firms forecast that the Internet access device industry will grow significantly over the next few years. IDC estimates the market for this product will grow from 865,000 units in 1998 to 12 million units in 2002. Jupiter Communications estimates the market will grow from 1 million units this year to 7.7 million units by 2002. Ovum Communications forecasts that sales for both external Internet access devices and televisions with integral Internet functionality will grow from 1.5 million units in 1998 to 32.8 million units in 2002.
MSU Corporation designs and develops computer chips used in consumer electronic products that access the Internet without the use of a computer, as well as new products for the CD video and audio markets. The company is based in the U.K. and is currently seeking further marketing, licensing and own-brand partners around the world.
This release contains forward-looking statements which are based on current information available to management and which are subject to other important factors disclosed from time to time in the company's Form 10-K and Form 10-Q. Registration Statements and other Securities and Exchange Commission filings, including specifically, among other factors, changing market and economic conditions.
SOURCE: MSU Corporation
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