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To: John Rieman who wrote (42354)6/22/1999 12:56:00 PM
From: DiViT  Respond to of 50808
 
Philips Announces New DVD+RW Drive for Extra Storage Capacity and Backwards-Compatability

06/22/1999
PR Newswire
(Copyright (c) 1999, PR Newswire)

DVD+RW 3.0 GB Drive Is An Ideal, Fast-Access Solution for High-Volume
Data Interchange, Archiving and Back-up Applications
PC EXPO, NEW YORK, June 22 /PRNewswire/ -- Philips Consumer Electronics, a worldwide leader in optical storage, introduced today its first DVD+RW 3.0 GB data storage drive. The new drive offers PC users an irresistible combination of high storage capacity equal to the data capacity of five CD- ROM discs, fast access to stored data, and the ability to read CD-ROM, CD-Recordable (CD- R), CD-ReWriteable (CD-RW), and DVD-ROM media. The Philips DVD+RW drive will be available in September 1999 at a suggested retail price of $699. The drive is on display at Philips' booth #4210, at the Jacob Javits Convention Center, June 22-24.
"As users accumulate more and more data on their PC from the Internet, digital cameras and other multimedia-rich sources, they need increased storage capacity, faster file access and the flexibility to share their data with others. With the Philips DVD+RW 3.0GD drive, users will find such a solution," said Bill Taylor, Vice President/General Manager, Imaging, Storage and Multimedia Products. "DVD+RW represents a natural evolution of proven CD technology, providing the best backward retrieving capability for information stored on CD media because DVD+RW drives can read CD-ROM, CD-R or CD-RW discs."

The new DVD+RW 3.0 GB drive has the equivalent data capacity of five CD- ROM discs, which is sufficient for 80 minutes of high-quality MPEG -2 video, 4 hours of uncompressed CD-quality audio or up to 9,000 high-resolution megapixel digital images on a single disc. This huge capacity makes DVD+RW ideal for storing and distributing large volumes of rich, multimedia information, including presentations, video-mail, and digital photos. DVD+RW is the perfect format for data interchange applications where end-users need to transport and have easy access to their data in the office, at home or away. Unlike tape-based storage media, DVD+RW discs offer random, high-speed access to all stored data, making it an optimal choice for data archiving and back-up applications. Further increasing speed and convenience, DVD+RW reads and writes data up to 11 times faster than CD media.

The Philips DVD+RW 3.0 GB drive will be supplied as a complete package containing everything that is needed for quick and easy installation and use. This includes the DVD+RW drive itself, an accessories set, a blank DVD+RW disc, and applicable drivers and applications software.

The DVD+RW format has been developed and supported by a group of six leading companies in the rewriteable data storage industry, to ensure broad- based market acceptance. As well as Philips, this group includes Hewlett- Packard Company, Sony Corporation, Ricoh Company, Ltd., Mitsubishi Chemical Corporation, and Yamaha Corporation.

About Philips

Royal Philips Electronics of the Netherlands is one of the world's biggest electronics companies and Europe's largest, with sales of more than US$ 33.9 billion in 1998. It is a global leader in color television sets, lighting, electric shavers, color picture tubes for televisions and monitors, and one-chip TV products. Its 233,700 employees in more than 60 countries are active in the areas of lighting, consumer electronics, domestic appliances, components, semiconductors, medical systems, business electronics, and IT services (Origin). Philips is quoted on the NYSE, London, Frankfurt, Amsterdam and other stock exchanges. News from Philips is located at www.news.philips.com.

News about Philips also can be found on the U.S. web site www.philipsusa.com.

Editor's Note: Please note that for your convenience, Philips has created the following rapid-response, toll-free number for all Philips editorial inquiries: 1-800-210-9605.

Product slides/digital images available upon request.

Contact: /CONTACT: Katrina Blauvelt of Philips Electronics, 770-821-2236, katrina.blauvelt@knox.pcec.philips.com, or Dan Burton of Brodeur Porter Novelli, 617-587-2883, dburton@brodeur.com/ 09:56 EDT






To: John Rieman who wrote (42354)6/22/1999 1:01:00 PM
From: DiViT  Respond to of 50808
 
Merrill Lynch Bullish On Time Warner's Cable, Internet Businesses

06/22/1999 Dow Jones Business News
(Copyright (c) 1999, Dow Jones & Company, Inc.)

NEW YORK -(Dow Jones)- Merrill Lynch & Co. Tuesday named Time Warner Inc. its "Focus One" stock pick of the week, citing the company's cable-television, Internet and digital-video-disk businesses.

Merrill Lynch analyst Jessica Reif Cohen reiterated her "buy" rating and an $85 12-month price target on the company's stock. In midday trading, shares of Time Warner (TWX) were up $1.50, or 2.2%, at $68.188.

Cohen said Time Warner is poised to benefit from "many emerging trends" within the entertainment complex.

The analyst predicted that the company will eventually restructure its cable-TV and motion-pictures unit, Time Warner Entertainment LP, in the wake of AT&T Corp.'s pending acquisition of MediaOne Group Inc. MediaOne owns about 25% of Time Warner Entertainment, which was created to raise cash to pay down debt from the 1989 merger of Warner Communications Inc. and Time Inc.

Time Warner Entertainment holds the majority of Time Warner's cable systems, the Warner Bros. movie business and the Home Box Office cable network.

With the acquistion of MediaOne, AT&T will surpass Time Warner to become the largest cable company in the country. AT&T also will inherit MediaOne's stake in Time Warner Entertainment, plus MediaOne's minority stake in Time Warner's Roadrunner high-speed Internet service.

But Time Warner has considerable leverage to rework the Time Warner Entertainment partnership. AT&T desparately wants to deliver phone service over Time Warner's cable lines and plans to begin negotiations with Time Warner once the MediaOne deal is complete.

The flurry of cable deals has driven up the value of cable companies in recent months. "Time Warner has, and should continue to, benefit from the robust valuations recent consolidation has placed on subscriber values," said Merrill Lynch's Cohen.

Time Warner began overhauling its Internet strategy earlier this year. The plan includes a move away from old Pathfinder omnibus site in favor of new Internet hubs that group its existing Web sites into different subject areas, including sports, finance and entertainment.

Some of Time Warner's most-successful Web sites are built around its Cable News Network properties, such as CNN.com and CNNfn.com. Like other big media companies, Time Warner has been said to be considering an initial public offering of its Internet business.

Time Warner, which owns a large catalog of film titles, also stands to benefit from the increasing popularity of the DVD format. So far, the selection of DVD movies is limited.

Copyright (c) 1999 Dow Jones & Company, Inc.

All Rights Reserved.