(PR NEWSWIRE) Spatializer and Samsung Agree to Enter Into Strategic Alliance
Spatializer and Samsung Agree to Enter Into Strategic Alliance for The
Development and Deployment of Audio Enhancement Technologies
Spatializer N-2-2(TM) to Be Promoted and Used as Samsung's Preferred Virtual
Surround Sound Technology for DVD Players and in Other Digital
Multimedia Products in the Future
WOODLAND HILLS, Calif., July 11 /PRNewswire/ -- Spatializer Audio
Laboratories Inc. (OTC Bulletin Board: SPAZ) announced today it and Samsung
Electronics Co., Ltd., Digital Products Division have agreed to enter into a
strategic alliance for the development and deployment of audio enhancement
technologies. As part of the strategic alliance, Spatializer N-2-2 will be
promoted and used as Samsung's preferred virtual surround sound technology in
its DVD players and in the future, for other digital multimedia products.
Spatializer and Samsung will work together to share ideas and proposals for
new technologies and products, with the purpose of enabling Spatializer to
bring the latest products to market sooner and for Samsung to have the
opportunity to license these new technologies prior to general release.
"This strategic alliance with Samsung rapidly moves us forward in
executing our plan to aggressively capitalize on the opportunities of the
digital audio revolution," said Henry R. Mandell, Chairman and Chief Executive
Officer of Spatializer Audio Laboratories, Inc. "Set Top Boxes and Internet
Appliances are two product categories which we have targeted for future growth
and are key drivers of the revolution. This expanded relationship will allow
us to intensely focus on our customer's needs and to drive targeted
engineering and product development to create new and value added audio
enhancement technologies. This relationship Samsung is well respected for its
quality, its engineering innovation and the aggressive global reach of its
distribution. We are honored to have the opportunity to work in such a way
with Samsung and we look forward to a long and successful relationship."
"Spatializer N-2-2 delivers the kind of virtual surround sound experience
we think our customers will enjoy and value," said Mr. S.S. Kim, Director,
Samsung Electronics Co. Ltd. "Spatializer N-2-2 has developed a strong
following in the industry for its authentic virtual surround sound effect
which provides both impact and accuracy. We believe that by working together
with Spatializer, we will be able to continue to offer our customers leading
edge technology ahead of the rest of the market."
Samsung Electronics Co., Ltd. With 1999 sales revenue of US$22.8 billion
is a world leader in the electronics industry. The Korea-based concern has
operations in about 50 countries with 54,000 employees worldwide. The company
consists of three main business units: Digital Media; Semiconductors; and
Information & Communications Businesses. For more information, please visit
Samsung's web site at samsungelectronics.com
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,
Samsung, Acer, Sharp, Sanyo, LG, Emerson, Zenith and Proton, in PC multimedia
systems and peripherals from Apple, Dell, Gateway, Hewlett Packard, Sony,
Fujitsu, Seiko-Epson, NEC, Micron and Labtec, in silicon from Matsushita, New
Japan Radio Corporation, ESS, Zoran, Motorola, C-Cube, NJRC, OnChip Systems,
and Acer Laboratories Inc, in software compatible with softMP3 players such as
WinAmp and XingMP3 and in leading DSP and Wintel platforms.
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 Santa Clara, Calif. and Tokyo.
Further information may be obtained from Spatializer's SEC filings, web-site
(www.spatializer.com) or by contacting Spatializer's Investor Relations
Department at 1-888-825-0743 or spaz@mdcgroup.com.
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, 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(R) is a registered trademark and
N-2-2(TM), is a trademark of Desper Products, Inc.
SOURCE Spatializer Audio Laboratories Inc.
-0- 07/11/2000
/NOTE TO EDITORS: All Spatializer press releases are available on the
Spatializer web site, www.spatializer.com/
/CONTACT: Investor Relations, 888-825-0743, spaz@mdcgroup.com/
/Web site: samsungelectronics.com
/Web site: spatializer.com
(SPAZ)
CO: Spatializer Audio Laboratories Inc.; Samsung Electronics Co., Ltd.
ST: California
IN: CPR
SU:
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