Press Release
MUCP shipping product!!
Monday June 29, 11:42 am Eastern Time
Company Press Release
SOURCE: MSU Corporation
MSU Corp. Commences Shipping New Version of Internet Access Device
CENTRAL MILTON KEYNES, U.K., June 29 /PRNewswire/ -- MSU Corporation (OTC Bulletin Board: MUCP - news) today said, following completion of its recent $5 million licensing arrangement, the company has commenced shipping to customers an updated version of its proprietary Internet Access Device.
The product, which allows a user to access the Internet on a television without the use of a computer, features several user-friendly functions not found in earlier versions, including improved and simplified operation for Internet browsing and e-mailing, and enhanced picture quality. The device can also 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.
Wyn Holloway, Chairman, said he believed the new product could continue to produce ''significant revenues'' for MSU in the near future. ''To date, there are comparatively few Internet Access systems which offer a combination of user-friendly operation and programming to the specifications of any ISP,'' said Mr. Holloway.
''We therefore anticipate that these features, in addition to the growing market demand for Internet Access devices, will result in strong demand for our product going forward.''
Mr. Holloway said MSU is currently seeking licensing agreements with various parties worldwide, with an emphasis on Far Eastern markets.
According to industry sources, the worldwide Internet access device market (excluding personal computers) will grow from its current 1 million units in 1998 to as many as 33 million units by 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.
MSU's manufacturing partner, Mitac, had 1997 revenues of over $5 billion and is one of Taiwan's largest makers of PCs and peripherals.
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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