Attached please find a press release issued today by Constellation 3D. The
release details a Letter of Intent signed by C3D and Lite-On, one of the
world's largest manufacturers of optical disc drives. Also today the Shemano
Group issued an equity research report on Constellation 3D. The report may
be found at their web site shemano.com in the near future. (C3D
management takes no responsibility for the accuracy of the Shemano report)
NEW YORK, January 16, 2001 -- Constellation 3D, Inc. (C3D) (Nasdaq/NMS: CDDD) and optical storage device manufacturer Lite-On IT Corporation, Taiwan, today announced the completion of a formal letter of intent for Lite-On to license C3D’s Fluorescent Multilayer Disc (FMD) technology in the production of FMD drives.
The two companies will collaborate on the design and development of optical disc drives based on C3D’s technology. FMD technology-based solutions exponentially expand the current standards in high-capacity disc storage, offering a quantum leap in both storage capacity and reading/recording speeds compared to traditional optical media such as CDs and DVDs.
“Lite-On is the third largest manufacturer of CD/DVD drives in the world, with a customer base that includes major PC and laptop manufacturers,” said Dr. Eugene Levich, CEO of C3D. “Their manufacturing and distribution leadership has the potential to enable FMD technology to quickly proliferate through premium brands, and help to establish FMD as a technology of choice for the next generation of removable storage devices."
“We believe FMD has the potential to be the standard removable data storage technology of the future and we are excited to be working with C3D to make FMD a mass market reality,” said Max Chen, Operations VP of Lite-On.
The agreement calls for Lite-On to pay a royalty to C3D on every FMD drive produced. In addition, Lite-On will participate in the proposed FMD technology development consortium that will promote FMD-related media and drive manufacturing standards. The agreement also contemplates Lite-On making a strategic investment in C3D as well as appointing a Director to C3D’s Board.
Dr. Levich continued, "This will be the Company's first revenue-producing agreement, and also represents a highly significant validation of FMD technology by a recognized industry leader."
About Constellation 3D, Inc.
The Company’s technology implements the concept of the volumetric storage of information. Data is recorded on multiple layers located inside a disc or a card, as opposed to the single or double layer method available in compact discs and DVDs. The recording, reading and storing of the information is accomplished through the use of fluorescent materials embedded in pits and grooves in each of the layers. The fluorescent material emits radiation when excited by an external light source. The information is then decoded as modulations of the intensity and color of the emitted radiation.
The Company has offices in New York and Massachusetts, and laboratories in California, Israel, and Russia. Constellation 3D holds or has made applications for over 80 worldwide patents in the field of optical data storage. More information is available at www.c-3d.net.
About Lite-On IT Corporation, Taiwan
With year 2000 revenues approaching US $5BN and with 50 factories worldwide, Lite-On is the world's third largest CD/DVD drive manufacturer. Lite-On is listed on the Taipei stock exchange. More information is available at www.liteonit.com.tw.
Safe Harbor Statement
Statements contained in the news release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements such as “Their manufacturing and distribution leadership has the potential to enable FMD technology to quickly proliferate through premium brands, and help to establish FMD as a technology of choice for the next generation of removable storage devices" are subject to risks and uncertainties including competition, strategic relationships, technological advances and market conditions, which may cause actual results to differ materially from expected results. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks and other factors detailed in the Company's reports filed with the Securities and Exchange Commission. |
