SPAZ news:
Wednesday July 28, 9:02 am Eastern Time
Company Press Release
SOURCE: Spatializer Audio Laboratories, Inc.
Spatializer and Matsushita Collaborate on the AN7399 Chip to
Provide Competitively Priced, High Performance 3-D Stereo Solution
Matsushita Begins Marketing New High Performance Spatializer 3-D Stereo Chip
WOODLAND HILLS, Calif., July 28 /PRNewswire/ -- Spatializer Audio Laboratories (OTC Bulletin Board: SPAZ - news) announced today that Matsushita Electronics Corporation has begun marketing a new chip, the AN7399, to deliver high performance Spatializer 3-D Stereo at a
significantly more competitive price compared to previously existing Matsushita solutions. It is anticipated this new chip will be a highly effective vehicle to deliver the acclaimed Spatializer 3-D Stereo feature to a broader and deeper array of home audio devices by virtue of its performance features and competitive price.
''This is a most significant development in our efforts to further penetrate the home audio market,'' stated Henry R. Mandell, Interim Chief Executive Officer of Spatializer Audio Laboratories, Inc.''
The quality and audio enhancement capabilities of Spatializer 3-D Stereo have been well documented in the trade press as well as by the adoption by highly respected global brands such as Panasonic. However, the highly competitive nature of the consumer electronics market, and the resultant pressures on margin and manufacturing cost has been one of the major deterrents to maximum utilization of our technology. Our customers and prospective customers alike have been impressed by the expanded stereo sound field Spatializer 3-D Stereo delivers, but have been judicious in their implementation due to the cost. After listening to our customers needs, we put our close working relationship with Matsushita to the test, and MEC has responded aggressively and impressively with this new silicon solution. We expect that the AN7399 will be a most successful product.''
Mr. Ken Morita, Director, IC Division, Semiconductor Company of Matsushita Electronics Corporation added, ''With the new AN7399 we can now offer 3D Stereo solutions of professional quality for the widest range of consumer electronics at a reasonable price. Matsushita has had a very close working relationship with Spatializer since 1993 and we are most excited about the superb business opportunity provided by the new generation of Spatializer technology. We intend to develop
a series of IC's with the latest technology according to customer request. We expect sales would ramp up to one million units per month in the future.''
Founded in 1952, Matsushita Electronics Corporation (MEC) is one of the world's largest manufacturers of various types of semiconductors, color picture tubes and lighting products including light bulbs and fluorescent lamps. The company is a wholly owned subsidiary of Matsushita Electric Industrial Co., Ltd., which is one of the world's leading manufacturers of consumer and industrial electronic products.
Spatializer Audio Laboratories, Inc. is a leading developer, licensor and marketer of next-generation technologies for the consumer electronics, computing and entertainment industries. The company's
advanced audio technology is incorporated into consumer electronics audio, video and DVD products from global brand leaders including Toshiba, JVC, Panasonic, Hitachi, Sharp, Sanyo, Samsung, Acer, Goldstar, Emerson, Zenith and Proton and in PC multimedia systems and
peripherals from, Dell, Gateway, Hewlett Packard, Fujitsu, Seiko-Epson, NEC, Micron and Labtec.
Spatializer stock is traded on the OTC Bulletin Board under the symbol ''SPAZ.'' The company is headquartered in Woodland Hills, Calif. and has marketing, engineering and R&D facilities in Mountain View, Calif. and Tokyo. Further information may be obtained from Spatializer's SEC
filings, Web-site (www.spatializer.com) or by contacting the company directly.
Safe Harbor Act Statement Under the Private Securities Litigation Reform Act of 1995: Certain
information in this news release, including the comments by Mr. Mandell in paragraph two are
forward looking statements that are based on management's belief, as well as assumptions made by,
and information currently available to management.
While the Company believes that its expectations are based upon reasonable assumptions, there can
be no assurances that the Company's financial goals will be realized. Numerous uncertainties and
risk factors may affect the Company's actual results and may cause results to differ materially from
those expressed in forward-looking statements made by or on behalf of the Company. These
uncertainties and risk factors include, but are not limited to dependence on new technology and
intellectual property, dependence on the PC and consumer electronics industries, dependence on
product shipments of third- party licensees, competition and pricing pressures, the timing and
realizable value of the MDT technology, the continued need for additional capital and other risks
detailed from time to time in the Company's periodic reports filed with the Securities and Exchange
Commission.
Notices: Desper Products, Inc. is a wholly owned subsidiary of Spatializer Audio Laboratories, Inc.
Spatializer® is a registered trademark of Desper Products, Inc.
SOURCE: Spatializer Audio Laboratories, Inc.
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