Company Press Release
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biz.yahoo.com
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Nexus and BVR Technologies Announce an
Investment of BVR Technologies in Nexus
GIVATAYIM, Israel--(BUSINESS WIRE)--June 10, 1999--Nexus Telocation Systems Ltd.
(NASDAQ: NXUSF - news) and BVR Technologies Ltd. (NASDAQ: BVRTF - news)
today announced that BVR Technologies will invest an aggregate amount of up to $3
million in Nexus by way of convertible debentures, at a conversion price of $2.58 per share. The convertible debenture
will bear an interest rate of LIBOR $+1.5% payable semiannually, due June 15, 2004.
BVR Technologies Ltd. (BVR) is an industrial holdings company which operates through its four affiliates: Nexus
Telocation Systems Ltd. (NASDAQ: NXUSF - news), RT-SET - Real Time Synthesized Entertainment Technology Ltd.,
Net-Game Ltd., and BrightCom Technologies Ltd. B.V.R. Technologies Ltd. holds approximately 36.1% of the
outstanding share capital of Nexus.
B.V.R.'s investment in Nexus aims support and further implement a development of additional technological applications
and expand market penetration by Nexus.
Nexus Telocation Systems Ltd., develops, manufactures and markets low energy wireless communications and location
systems through application of digital spread spectrum technologies. The systems are operating in Russia, Australia,
Venezuela, Singapore and the United States. It is expected that the systems are soon to be used in Israel and other
countries.
This press release contains forward-looking statements with respect to the business, financial condition and results of
operations of BVR Technologies and its affiliates. These forward-looking statements are based on the current
expectations of the management of BVR Technologies only, and are subject to risk and uncertainties, changes in
technology and market requirements, decline in demand for the company's affiliates' products, inability to timely develop
and introduce new technologies, products and applications, loss of market share and pressure on pricing resulting from
competition, which could cause the actual results or performance of the Company to differ materially from those
contemplated in such forward-looking statements. BVR Technologies undertakes no obligation to publicly release any
revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting the company,
reference is made to the Company's reports filed from time to time with the Securities and Exchange Commission.
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