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Company Press Release
Litronic Appoints CTC as Distributor for Japanese Market
Japanese Market Thrives as Major Internet Security Opportunity
IRVINE, Calif.--(BUSINESS WIRE)--July 7, 1999--Litronic Inc.(Nasdaq:LTNX - news), a leading provider of information security solutions, today announced the appointment of CTC as its distributor in the Japanese market.
CTC is a leading distributor and division of Itochu, one of Japan's largest trading firms, importing state-of-the-art computer systems and software from all over the world. Known for its expertise in smart card and PKI (Public Key Infrastructure) security, CTC's selection was based on its success in providing sophisticated security solutions to the Japanese market, one of Litronic's largest overseas markets.
''CTC is well-versed in information security solutions and the Japanese market,'' said Kris Shah, Litronic's chairman. ''Japan is a mature market, poised to adopt advanced security technology on a broad scale. Our association with CTC will maximize this exciting market opportunity.''
Major market segments comprise CTC's customer base, including finance, marketing, manufacturing, transportation, communications, medical, service, education and government, and the company operates with more than 70 service/support centers throughout the country. Parent company Itochu is renowned for managing large-scale projects and creating new distribution channels and markets.
About Litronic
Litronic provides multi-platform, standards-based security environments for government and commercial users. This total security solution includes software, enabling toolkits, supporting hardware, and professional services. With more than eight years of experience providing innovative information security solutions, Litronic is an industry leader in the development and implementation of security technologies in the enterprise and government sectors. For additional company information visit litronic.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
With the exception of historical information, the matters discussed in this news release relating to the projected growth of e-commence and of the Internet security market; and to Litronic's ability to penetrate the Internet security market, to integrate acquisitions and to transition to commercial markets are forward looking statements that involve a number of risks and uncertainties, including competition from companies with greater financial and technical resources than Litronic, the difficulty in continuing technical innovation (particularly in light of the competitive market for technical personnel), the effect of differing corporate cultures on the integration of acquisitions and the acceptance of Litronic's products in the commercial marketplace. Other risks inherent in Litronic's business are described in Securities and Exchange Commission filings, including the Company prospectus. Litronic undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
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