When all else fails....
ESS Technology, Inc. Announces Intent of Chairman and Chief
Executive Officer To Purchase Shares of Common Stock on
Open Market
FREMONT, Calif., April 28 /PRNewswire/ -- ESS Technology Inc. (Nasdaq:
ESST) announced today that Fred Chan, the Company's President and Chief
Executive Officer and his wife, Annie Chan, who is also director of the
Company, plan to purchase at least $5,000,000 and up to $10,000,000 of ESS
Common Stock. Mr. and Mrs. Chan have indicated they plan to purchase the
shares in the open market from time to time in the near future.
ESS Technology, Inc. is a leading supplier of PC audio and digital video solutions
for the PC and consumer markets. ESS designs, develops and markets highly
integrated mixed signal semiconductor and software solutions for multimedia
applications. ESS, headquartered in Fremont, California, has sales and technical
support offices in Austin and Houston, Texas; Irvine, California; Bellevue,
Washington; Beijing and Shenzhen, China; Tokyo, Japan; Taipei, Taiwan; Seoul,
Korea; and Hong Kong. ESS Technology is listed on the Nasdaq Market System
under the symbol ESST. World Wide Web site: esstech.com.
The matters discussed in this news release include certain forward-looking
statements that involve risks and uncertainties, including volatility of stock price,
dependence on key personnel and control by existing shareholders, as well as the
other risks detailed from time to time in the SEC reports of ESS, including the
report on Form 10-K for the year ended December 31, 1997. Actual results
could differ materially from those projected in the forward-looking statements.
/CONTACT: John Barnet, Vice President & Chief Financial Officer of ESS
Technology, Inc., 510-492-1088/
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