CLRT - Letter Agreements
New York, New York, Jan 10, 2001 (Market News Publishing via COMTEX) --
Celerity Systems, Inc., and four of Unisys Corporation's North Asian
subsidiaries announced that they have entered into separate Letters of Agreement
to cooperate in the sale and support of interactive video and high-speed
Internet products and services in Hong Kong, Taiwan, Korea and China. The
Agreements include Celerity's provision of its advanced T 6000 digital set top
box and related products (including possibly the CTL 9500 digital video server)
and services as part of projects that Unisys intends to market in prospective
Asian high-speed digital deployments. In addition, the agreements set in motion
a plan for private labeling these products and services. This may include
products which incorporate the technologies of both Celerity and Unisys, or
those of Celerity which Unisys may market as a custom product or under its own
brand name.
"We are excited about doing projects with Unisys in North Asia," said Kenneth
Van Meter, President and CEO of Celerity Systems. "As one of the 250 largest
firms in the United States, Unisys is recognized as a leader in the development,
integration, and operation and support of complex hardware and software systems
and products. The Unisys name is considered synonymous with quality and
expertise. By combining our leading edge set top box with the Unisys network and
software products and systems, we feel that together we can offer system
operators, beginning in North Asia, a first class system for providing
interactive video, high-speed Internet and home networking services. Our
international strategy is to provide products and services as part of projects
led by large reputable firms with a strong local presence. Unisys has over 1000
salespeople in Asia, and is a major player in the region. North Asia is a strong
market for high-speed digital services, in part because there are a large number
of consumers with good disposable income, but also because the governments tend
to demand and help fund ubiquitous high-speed digital networks. It can be a
strong potential market for our products."
"With Unisys' market strength and brand name, we feel that our products, which
we believe to be among the best technology available, may have better market
penetration, especially with large firms, such as telephone companies, who
prefer to work with other major players," said Cabot Longnecker, Director of
Sales and Marketing-Worldwide for Celerity.
Celerity Systems is a provider of advanced digital set top boxes and video
servers for the interactive television and high speed Internet markets. Celerity
can also provide end-to-end systems through strategic relationships with leading
companies including Cisco, Battelle Laboratories, Marconi, Nortel, nCube, and
Minerva Systems. For more information about Celerity and its products, access
the home page on the World Wide Web at celerity.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements which are not historical facts contained in this press
release are forward-looking statements that involve certain risks and
uncertainties including but not limited to risks associated with the uncertainty
of future financial results, additional financing requirements, development of
new products, government approval processes, the impact of competitive products
or pricing, technological changes, the effect of economic conditions and other
uncertainties detailed in the Company's filings with the Securities and Exchange
Commission.
CONTACT: TEL: 865/539-3510 Celerity Systems Inc., Knoxville
Cabot Longnecker
E-mail: clongnecker@celerity.com
Internet: www.celerity.com
URL: www.celerity.com
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KEYWORD: New York, New York
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