To: Mark B. Martell, CCM who wrote (1046 ) 6/17/1999 6:38:00 PM From: Q. Respond to of 1440
PR Newswire February 11, 1999, Thursday SECTION: Financial News DISTRIBUTION: TO BUSINESS EDITOR LENGTH: 366 words HEADLINE: Corsaire, Inc. Completes Modern Telnet LTD. Acquisition; Company Name Change in the Works DATELINE: FORT LAUDERDALE, Fla., Feb. 11 BODY: William R. Dunavant, President and CEO of Corsaire, Inc. (OTC Bulletin Board: SNBD), has announced the company completed its acquisition of 51 percent of the equity of London-based Modern Telnet LTD. The exchange of final documentation of the purchase will occur later today. The all-stock transaction is valued at $22.5 million, entirely consisting of Corsaire, Inc. common stock. The acquisition brings Corsaire exclusive distribution channels for its newly acquired Net Command(TM) Internet broadcast products, which include: broadcast video, video E-mail, video conferencing, home and office set-top box systems and remote video surveillance systems. All products have been fully tested and are expected to go on sale in the spring. "Our new Net Command(TM) broadcast quality Internet video products clearly outperform the current market leader," said Dunavant. "Home-based users will be able to broadcast streaming video and audio at up to 15 frames per second with a 266 MHz Pentium II computer and standard 56KPS dial-up, for about $100. This technology will revolutionize the way both consumers and businesses use online video, which is estimated to be a $10 billion market," he added. The company also announced it has finalized its name change plans by securing the name, Net Command Tech, Inc. The new ticker symbol and finalization of the name change will be announced upon Nasdaq approval. The preceding announcement may contain statements or projections, which are forward-looking in nature. Actual results could materially differ from the projections. Corsaire, Inc.'s investor relations information center can be reached at (954) 385-5085. Those interested in visiting the company's Web site can do so at www.netcommandtech.com. Corsaire, Inc. and its strategic partners provide broadcast video, video conferencing and video E-mail to desktop and set-top box markets through the use of wavelet and MPEG 4 technologies as an option to standard phone lines. The company's video products can achieve a viewable image size of 320 x 240 at up to 15 frames per second over standard dial-up connection. SOURCE Corsaire, Inc. CONTACT: Don Silver, Boardroom Communications, 954-321-6334, or e-mail donsil@boardroompr.com, for Corsaire, Inc. LANGUAGE: ENGLISH LOAD-DATE: February 12, 1999