Today's gift DRXR, a joke company presents at AEA, LT POS: "Drexler Technology Invited to Speak before Institutional
11/3/0 17:13 (New York)
Investor and Security Analyst Groups
Business Editors/Technology Writers
AEA Classic 2000
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Nov. 3, 2000--Drexler
Technology Corporation (Nasdaq:DRXR) today disclosed that it has been
invited to speak before institutional investor and security analyst
groups in California during the week of November 6, 2000.
Presentations will be made to the Financial Analysts Society of San
Diego, to the Security Analysts of Sacramento, and at the American
Electronics Association's two-day "AEA Classic" in San Diego.
The following information will be presented:
-- To date, Drexler Technology has shipped 6.3 million
LaserCard(R) optical memory cards for use as INS Permanent
Resident "Green Cards" by immigrants residing in the U.S.A.
and 3.8 million cards for use as U.S. Department of State
"Laser Visa" U.S. border crossing cards by Mexican citizens.
The Company also has shipped over 3 million LaserCard optical
memory cards utilized worldwide for laser eye surgery
equipment control.
-- The Government of Italy has tentatively selected the
Smart/Optical(TM) card, containing a 1-megabyte optical memory
and a microchip, as Italy's national ID/social services card
and has placed an initial order with Drexler for 100,000
LaserCard optical memory cards for deliveries starting this
quarter.
-- In India, a systems integration company has prepaid Drexler
$1,290,000 for future LaserCard orders related to a potential
motor-vehicle registration card program for the state of
Gujarat.
-- The Government of Canada recently issued a request for
proposal (RFP) for 2.3 million high security optical memory ID
cards to be carried by Canadian permanent resident immigrants.
-- The Company is enhancing its marketing program efforts in
South America and China.
-- The Company plans to begin the development of a wireless
Smart/Optical(TM) card containing a radio frequency microchip
and an antenna module in addition to a 1-megabyte optical
memory stripe.
-- Drexler Technology's 10-K and 10-Q reports describe
patent-related legal actions taken against Sony Corporation,
Dolby Laboratories, Inc., and others in the motion picture
industry. These legal proceedings have been taken off the
trial calendar to facilitate implementation of settlement
agreements.
Mountain View-based Drexler Technology Corporation manufactures
LaserCard(R) optical memory cards used for immigration, healthcare,
automotive, ID/access, data logging, and other digital read/write
wallet-card applications. Drexler's wholly owned subsidiary, LaserCard
Systems Corporation, www.lasercard.com, makes optical card read/write
drives, develops optical card system software, and markets
card-related systems and peripherals.
Forward-Looking Statements: Certain statements made above relating
to plans, objectives, and economic performance go beyond historical
information and may provide an indication of future results. To that
extent, they are forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934, as amended, and
each is subject to factors that could cause actual results to differ
from those in the forward-looking statement. Such factors are
described in the Report on Form 10-K and other documents filed by
Drexler Technology Corporation (the "Company") from time to time with
the Securities and Exchange Commission. The Company's business plan
depends upon the initiation and growth of new programs utilizing the
Company's card products and is subject to adverse economic and
technological developments. Card delivery rates may depend upon
customer issuance of corresponding order releases, which could be
delayed or withheld if the customer's anticipated demand is not
realized. The U.S. government reserves the right to withhold order
releases, reduce the quantities released, and extend delivery dates.
There is no guarantee that governments in Italy, India, Canada, South
America, or China will purchase the Company's products in material
quantities.
No admission of Materiality: The issuance of this press release is
not to be construed as an admission that it contains material
information not previously disclosed.
--30--gm/sf*
CONTACT: Drexler Technology Corp., Mountain View
J. P. Protsik, 650/969-7277
KEYWORD: CALIFORNIA INTERNATIONAL ASIA PACIFIC EUROPE
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS HARDWARE TRADESHOW
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