NEWS FLASH!!!
Company Press Release
SETO Holdings, Inc. Announces Receiving Orders for Diamond Dicing
Blades From 5 Semiconductor Chip Manufacturers in SE Asia
BRIARCLIFF MANOR, N.Y.--(BUSINESS WIRE)--March 17, 1999--SETO Holdings, Inc. (OTC BB:SETO) Mr. Pian,
SETO's President, said ''DTI Technology Sdn Bhd, a wholly owned subsidiary of SETO Holdings, Inc. New York, has received
production orders from 5 semiconductor manufacturers in Thailand and the Philippines. Four of the five customers are new to DTI, which will increase sales by over
$300,000 for this current year.'' Production and shipments have already started and will reflect in the current quarter ending April 30, 1999. DTI has 22 additional
evaluations going on in SE Asian. Results are expected during the next 3-4 months. Due to the competitive nature of the product, the company is not releasing the
customer names at this time.
Mr. Pian reported that negotiations for an agreement and purchase price, have been reached in principal with a technical materials company in the eastern USA, as a
100% acquisition to complement the SETO, ECS ceramics subsidiary. Mr. Pian said ''having known the privately held company for many years both as a supplier
and customer of ECS, a SETO subsidiary, enabled the negotiations to be fair and equitable for both parties.'' The current revenue of this potential acquisition is
approximately $5 million per year with a net profit before tax of $1.19 million. Growth is projected to reach $8 million by year 2002. Plans are to complete the
acquisition during the current fiscal year ending Jan. 31, 2000.
The preliminary estimates for year ending January 31, 1999 for revenue at $2.8 million with EPS of $.03, might be understated as we come close to finalizing the
financials. Final numbers are expected soon.
SETO HOLDINGS, Inc., formerly Semicon Tools Inc. has been a public Company since 1987 and operates as a broad based technical manufacturer in two major
product groupings: Technical products: to industry: inclusive of diamond tools, wafer fab supplies and technical ceramics. Consumer products: cellular phone
batteries.
''Safe Harbor'' statement under the Private securities Litigation Reform Act of 1995 Statements contained in this release which are not historical facts are forward
looking statements that involve risks and uncertainties that could cause actual results to differ from projected results. Factors that could actual results to differ
materially include, among others, economic and political events in or effecting Malaysia, the Company's dependence on the semiconductor industry and other risk
factors detailed in the Company's Securities and Exchange Commission filings.
Contact for Investor Information: Gene Pian, President SETO Holdings, Inc. Company web site: www.SETOHOLDINGS.Com / www.stidiamond.com /
email:stiandecs@aol.com
Contact:
SETO Holdings Inc., Briarcliff Manor
Gene Pian, 914/923-5000
e-mail: stiandecs@aol.com
Company Web Site: www.stidiamond.com
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