Thursday June 29, 10:28 am Eastern Time
Company Press Release
NCTI Receiving Per-Unit Royalties From OKI
ClearSpeech Platformed On Large-Scale Integrated Circuits
WESTPORT, Conn.--(BUSINESS WIRE)--June 29, 2000--NCT Group, Inc. (NASDAQ: NCTI - news) today announced that OKI Electric Industry Co., Ltd. has begun ramping-up delivery of large-scale integrated circuits (ICs) incorporating NCTI's ClearSpeech©noise cancellation algorithm. NCTI is receiving royalties from OKI on each unit sold. NCTI granted OKI the right to manufacture, use and sell products incorporating this algorithm in October, 1997.
``We are proud that Oki, a leading electronics manufacturer, recognizes the value of our ClearSpeech technology for improving the intelligibility and clarity of its communications products,'' said Michael J. Parrella, Chairman and CEO, NCTI. ``While we recognize that it takes a long time for such licensing arrangements to yield royalties given the extended product development and marketing cycles that are typical in the IC market, we look forward to Oki's successful ramping-up of this product and the increased royalty revenues NCTI will realize.''
NCTI's ClearSpeech algorithm is specifically designed to remove background noise from speech and other transmitted signals and can be used in conjunction with cellular and public telephones, car phones, air phones, two-way radios, line cards, switches, PBX's, microcassette recorders, dictation devices, teleconferencing systems and speech-activated ``smart'' consumer products.
Founded in 1881 as Japan's first telecommunications manufacturer, OKI Electric Industry Co., Ltd. is a leader in the global marketplace. With more than 21,000 employees worldwide, OKI Electric manufactures and markets telecommunications systems, information systems and electronic devices.
NCT Group, Inc. is a technology developer with an extensive portfolio of innovative, proprietary algorithms and intellectual property. The Company's applications utilize sound and signal waves to electronically reduce or eliminate noise, improve signal-to-noise ratio and enhance sound quality, including its highly innovative Sight & Sound(TM) place-based audio and billboard advertising media, advanced ClearSpeech© software for integrated Internet telephony and clear, full-duplex hands-free mobile communications, Gekko(TM) line of flat speakers for home audio and home theater, NoiseBuster© and ProActive© active noise reduction headsets, Advancel Java(TM) chip technology, and silicon micromachined microphones. For more information, refer to www.nct-active.com.
Cautionary Statement Regarding Forward-Looking Statements
Certain information contained in this press release are forward-looking statements within the meaning of the Private Securities Litigation Act of 1995 (the ``Act''), which became law in December 1995. In order to obtain the benefits of the ``safe harbor'' provisions of the Act for any such forward-looking statements, the Company wishes to caution investors and prospective investors about significant factors, which among others, have in some cases affected the Company's actual results and are in the future likely to affect the Company's actual results and cause them to differ materially from those expressed in any such forward-looking statements. Investors and prospective investors should read this press release in conjunction with the Company's most recent Form 10-K and Forms 10-Q.
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Contact:
CONTACTS: Media:
NCT Group, Inc.
Joanna Lipper
203/226-4447 ext. 3506
203/226-3123 (fax)
jlipper@nct-active.com
or
Investor:
NCT Group, Inc.
Robert Onesti
203/226-4447 ext. 3502
203/226-3123 (fax)
rjonesti@nct-active.com
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