Buying SPAZ to go with my EDIG.
Tuesday July 20, 9:15 am Eastern Time
Company Press Release
SOURCE: Spatializer Audio Laboratories, Inc.
Samsung Opt for Spatializer
Samsung Elect to Incorporate Spatializer N-2-2 Across Entire DVD Range
And for OEM Customers
WOODLAND HILLS, Calif., July 20 /PRNewswire/ -- Spatializer Audio Laboratories (OTC Bulletin Board: SPAZ - news) announced today that Samsung Electronics has incorporated Spatializer's N-2-2(TM) Virtual Surround Sound technology across its entire range of own-brand
and OEM DVD players. Samsung joins the rapidly growing list of N-2-2 licensees including Toshiba, Acer, Hitachi, LG, Zenith, and Emerson.
''This is very pleasing news for us. Samsung are a very highly respected company, openly committed to being a major force in the DVD market. We are more than happy to be associated with them,'' said Pete Birch, Senior Vice President, Sales and Marketing at Spatializer. ''The addition of Samsung to our licensee base for N-2-2 fully supports our efforts to define Spatializer N-2-2 as the standard for Virtual Surround Sound. Sales figures for DVD players show a continuing growth pattern, particularly in the US. We intend to take full advantage of this by continuing to apply our efforts to introduce more and more DVD manufacturers to the benefits of Spatializer.''
''Samsung will release more than 1,000,000 DVD models under its own and OEM brand: the DVD-709 and the DVD-909,'' said T.H. Lee, DVDP Business Group with Samsung. ''The addition of Spatializer N-2-2 technology to our DVD players means that Samsung customers who
don't own a complete home theater system, can still enjoy a multi-channel audio effect. We are confident that our customers will like N-2-2, and that this will assist Samsung's efforts to penetrate
the DVD market.''
Henry R. Mandell, Interim CEO of Spatializer commented, ''This is yet another quality licensee of our technology. I am very satisfied by this continued momentum for N-2-2. While there will be a ramp up period to peak shipping over the next few months, with modest impact expected in our second quarter, I am confident that along with other already announced contracts, we will see a solid impact on our revenues later this year, particularly in the fourth quarter.''
Samsung Electronics Co., Ltd., a US $13 billion (1997) flagship company of Korean-based the Samsung Group, is a world leader in electronics, with operations in more than 60 countries and 85,000 employees Worldwide.
Spatializer Audio Laboratories, Inc. is a leading developer, licensor and marketer of next-generation technologies for the consumer electronics, computing and entertainment industries. The company's advanced audio technology is incorporated into consumer electronics audio, video and DVD products from global brand leaders including Toshiba, JVC, Panasonic, Hitachi, Sharp, Sanyo, Goldstar, Emerson, Zenith and Proton and in PC multimedia systems and peripherals from
Compaq, AST, Dell, Gateway, Hewlett Packard, Fujitsu, Seiko-Epson, NEC, Micron and Labtec.
Spatializer stock is traded on the OTC Bulletin Board under the symbol ''SPAZ.'' The company is headquartered in Woodland Hills, Calif. and has marketing, engineering and R&D facilities in Mountain View, Calif. and Tokyo. Further information may be obtained from Spatializer's SEC
filings, Web-site (www.spatializer.com) or by contacting the company directly.
Safe Harbor Act Statement Under the Private Securities Litigation Reform Act of 1995: This
news release contains forward looking statements, including Messrs. Birch's and Mandell's quotes
in paragraphs two and four, which are subject to a variety of risks and uncertainties.
While the Company believes that its expectations are based upon reasonable assumptions, there
can be no assurances that the Company's financial goals will be realized. Numerous uncertainties
and risk factors may affect the Company's actual results and may cause results to differ materially
from those expressed in forward-looking statements made by or on behalf of the Company. These
uncertainties and risk factors include, but are not limited to dependence on new technology and
intellectual property, dependence on the PC and consumer electronics industries, successful
consummation of transactions in negotiation, dependence on product shipments of third-party
licensees, competition and pricing pressures, the timing and realizable value of the MDT
technology, the continued need for additional capital and other risks detailed from time to time in
the Company's periodic reports filed with the Securities and Exchange Commission.
Notices: Desper Products, Inc. is a wholly owned subsidiary of Spatializer Audio Laboratories,
Inc. Spatializer® is a registered trademark and N-2-2(TM) are trademarks of Desper Products,
Inc. |
