Good news:
Monday September 13, 6:27 am Eastern Time
Company Press Release
MSU appoints HSBC as Investment Bankers
Sights Set On Significant Funding and Subsequent NASDAQ and London Stock Exchange Listings
MILTON KEYNES, United Kingdom--(BUSINESS WIRE)--Sept. 13, 1999-- MSU Corporation (OTC BB: MUCP - news) - manufacturers of the world's leading low-cost Web-to-TV system - has appointed HSBC, one of the world's premier banking groups, to manage a private equity placement to raise funds to boost manufacturing capacity, develop distribution channels and implement its consumer marketing strategy.
MSU, which has been courted by numerous investment banks, chose HSBC for their proven success in the European technology markets. Their strategy is to take MSU to a full NASDAQ listing, with a subsequent listing on the London Stock Exchange. MSU has been negotiating with companies ready to do business now - with volumes of the order of millions of units. But with sales of this magnitude, attracting the right funding at both manufacturing and distribution levels has proved time-consuming.
MSU Chairman, Wyn Holloway, announced: ''We've finally broken the deadlock. For months, we've been negotiating with several key customers looking for volumes in excess of a million units a year. We are delighted to be working with HSBC - whose capability and proven track record are invaluable to a business such as ours - with such vast, fast growth potential.''
Market making
Although the cost of connecting to the web has plummeted over the past few years, 75% of US household are yet to go online. A key factor is still the cost of PC equipment which runs, typically, to $1,000. MSU's system crashes through that cost barrier - countering the financial inertia restricting access growth. In addition, its simplicity of use opens access to the millions of potential users who either resist PC purchase or prefer to leave computing in the workplace.
Solid relationships
Research also suggests that PC users regularly change their ISP with 'churn rates' in excess of 25% being common. By contrast, MSU believes that its position at the heart of the home - coupled with opportunities to help ISPs build solid relationships with users by reducing costs and providing a pre-set home 'portal' - has the capacity to increase customer interest and loyalty and dramatically reduce churn.
MSU - Condensed Press Briefing
MSU UK Limited, based in Milton Keynes, is a world leader in the design and manufacture of low cost Internet access devices. Its flagship product, known as WEB2U, offers low-cost Internet access and email to anyone with a television and telephone. MSU Corporation, MSU UK's holding company, is quoted on the OTC Bulletin Board (R) (MUCP).
For more information, please contact
MSU UK Limited Elder House 526-528 Elder Gate Central Milton Keynes MK9 1LR United Kingdom
Telephone +44 1908 232 100 Facsimile +44 1908 231 321 Internet www.MSU.co.uk. |
