S.W, SEVU MOVING FAST!... Seaview Issues Update, Plans New Division...
ST. PETERSBURG, Fla., Feb. 8 /PRNewswire/ -- SeaView Video Technology Inc.
(OTC Bulletin Board: SEVU) today affirmed that development of "the light bulb
camera," SecureView, is still on schedule. In addition, VP-General Manager J.
R. Cox revealed downsizing of the electronics package brought performance
gains as a bonus. "The core components have been fully functional for some
time," he said, "meeting FCC and UL guidelines. It's the light bulb housings
we've been developing. Once testing is complete, we'll be ready for mass
production in the new housing." A 220-volt version using the European PAL
television format is also ready, Cox said. "I have a working unit sitting on
my desk right now. In many ways, it's an advantage -- not being a huge
company gives us quickness in making changes and improvements."
A new consumer division is in the works, with two new products in
development testing. CEO Rich McBride said the current roadmap calls for an
eventual spin-off into a separate entity, offering dividends and options to
current SeaView investors. "These are excellent products, but off stream from
our core business," McBride said. "We've invented a way to light swimming
pools in soft light from the sun, without dangerous electricity. And on the
gadget side, we're building a 'beeper' for finding your keys or TV remote,
that works with an existing product we all have in our homes."
The company does rapid prototyping in-house and utilizes outside
subcontractors for fine-tuning design and production issues. "This lets us
proceed on current products in development while we work on new inventions,"
McBride explained. "We're in-house with graphic design, video production,
electronics development, and even our own webmaster here on the top floor. On
the ground floor we have manufacturing and shipping capability. We're
powerful, lean, and savvy in the direct consumer marketing game."
Arch Cook, Sales Manager, reports great success in the ongoing dealer base
expansion for Marine Division products. "Our newest dealer in Cleveland sold
seven cameras just last week," he said, "and if you hadn't noticed, it's still
winter there and in most places!"
Newly named National Sales VP Col. Larry Hoffman (USA ret.) also reported
great success with procurement in the DOD arena. A major presentation to all
six military branches is scheduled at the end of February.
website: www.seaviewresearch.com
email: sales@seaviewresearch.com
Investor Information: 727-866-3660, ext. 207
This press release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, which are intended to be covered
by the safe harbors created thereby. Investors are cautioned that all
forward-looking statements involve risks and uncertainties, including, without
limitation, the ability of SeaView Underwater Research Inc. to accomplish its
stated plan of business. Although SeaView Underwater Research Inc. believes
that the assumptions underlying the forward-looking statements contained
herein are reasonable, any of the assumptions could be inaccurate, and,
therefore, there can be no assurance that the forward-looking statements
included in this press release will prove to be accurate. In light of the
significant uncertainties inherent in the forward-looking statements included
herein, the inclusion of such information should not be regarded as a
representation by SeaView Underwater Research Inc. or any other person that
the objectives and plans of SeaView Underwater Research Inc. will be achieved.
SOURCE SeaView Video Technology Inc.
-0- 02/08/2000
/CONTACT: J R Cox of SeaView Video Technology, 888-727-3288, ext. 207, or
webmaster@seaviewresearch.com/
/Web site: seaviewresearch.com /
(SEVU)
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