BANYAN AWARDED EXPANDED SUBCONTRACTOR ROLE IN THE
U.S. AIR FORCE'S DESKTOP V CONTRACT
Colorado Springs, Colorado - March 30, 1998 -- Banyan Corporation (OTC
Bulletin Board -- BANY) announces that Dynamic Decisions, Inc., an
Arlington, Virginia based minority owned government contractor, has
named Banyan its supplier of hard-sided protective carrying cases for
its recently awarded $904,879,280 Section 8-A Minority Owned Business
portion of the U. S. Air Force's Desktop V contract. Desktop V is a
three-year U.S. Air Force contract for the procurement of about
360,000 new computers (notebooks, desktops, workstations and related
equipment and services) commenced in 1997 and, including Dynamic
Decisions' recent award, is valued in excess of $2 billion over the
duration of the contract. Banyan anticipates generating approximately
$3 million in revenue from its current subcontractor role in Desktop
V; 60% of Desktop V's shipments are expected to take place during the
contract's final year.
Dynamic Decisions joins International Data Products (IDP), another
Section 8-A Minority Owned Business, Packard Bell and Hughes Data
Systems as a general contractor in Desktop V. Banyan has already been
named a Desktop V supplier of hard-sided protective carrying cases for
both IDP and Packard Bell, and has already commenced initial Desktop V
shipments of its DoubleCase NB-1000 and DoubleCase NB-3000 series
products to these two general contractors.
Based on initial projections, Banyan will begin supplying Dynamic
Decisions with a limited quantity of its DoubleCase NB-1000 series
product in April 1998. Following these initial shipments, Dynamic
Decisions retains the right to vary its purchases to include any
combination of products from the entire DoubleCase product line. At
the height of Desktop V, Dynamic Decisions anticipates needing up to
1,000 hard-sided protective carrying cases per month from Banyan.
Cameron Yost, Banyan's President and Chief Executive Officer, stated,
"Banyan is very excited to be working with Dynamic Decisions to
satisfy their newly awarded portion of the Air Force's huge Desktop V
contract. Dynamic Decisions' selection of Banyan's DoubleCase
hard-sided cases underscores our commitment to quality - our
DoubleCase product line continues to meet and exceed the government's
stringent notebook computer protection requirements." Mr. Yost added,
"Management intends to aggressively parlay this 'high profile'
contract award into new government, corporate, and educational sales."
Banyan Corporation is a publicly held holding company with operating
subsidiaries engaged in designing, manufacturing and marketing a
variety of accessory products, including a full line of hard-sided
protective carrying cases for the notebook computer market - the
fastest growing segment of the personal computer industry. Banyan's
products are currently sold through a wide variety of computer mail
order catalogs, several of the largest U.S. computer retailers, Value
Added Resellers (VARs), a number of overseas vendors including its own
DoubleCase UK Limited subsidiary, and to the U.S. government.
The Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for forward-looking statements. Certain information included
in this press release (as well as information included in oral
statements or other written statements made or to be made by Banyan
Corporation) contains statements that are forward-looking, such as
statements relating to the future anticipated direction of the high
technology industry, plans for future expansion, various business
development activities, planed capital expenditures, future funding
sources, anticipated sales growth and potential contracts. Such
forward-looking information involves important risks and uncertainties
that could significantly affect anticipated results in the future and,
accordingly, such results may differ from those expressed in any
forward- looking statements made by or on behalf of Banyan
Corporation. These risks and uncertainties include, but are not
limited to, those relating to development and expansion activities,
dependence on existing management, financing activities, domestic and
global economic conditions, changes in federal or state tax laws, and
market competition factors. |
