SPAZ NEWS!!!
Spatializer and Matsushita Collaborate on the AN7399 Chip to Provide Competitive
/FROM PR NEWSWIRE LOS ANGELES 213-626-5500/
TO BUSINESS AND TECHNOLOGY EDITORS:
Spatializer and Matsushita Collaborate on the AN7399 Chip to Provide
Competitively Priced, High Performance 3-D Stereo Solution
Matsushita Begins Marketing New High Performance
Spatializer 3-D Stereo Chip
WOODLAND HILLS, Calif., July 28 /PRNewswire/ -- Spatializer Audio
Laboratories (OTC Bulletin Board: SPAZ) announced today that Matsushita
Electronics Corporation has begun marketing a new chip, the AN7399, to deliver
high performance Spatializer 3-D Stereo at a significantly more competitive
price compared to previously existing Matsushita solutions. It is anticipated
this new chip will be a highly effective vehicle to deliver the acclaimed
Spatializer 3-D Stereo feature to a broader and deeper array of home audio
devices by virtue of its performance features and competitive price.
"This is a most significant development in our efforts to further
penetrate the home audio market," stated Henry R. Mandell, Interim Chief
Executive Officer of Spatializer Audio Laboratories, Inc." The quality and
audio enhancement capabilities of Spatializer 3-D Stereo have been well
documented in the trade press as well as by the adoption by highly respected
global brands such as Panasonic. However, the highly competitive nature of
the consumer electronics market, and the resultant pressures on margin and
manufacturing cost has been one of the major deterrents to maximum utilization
of our technology. Our customers and prospective customers alike have been
impressed by the expanded stereo sound field Spatializer 3-D Stereo delivers,
but have been judicious in their implementation due to the cost. After
listening to our customers needs, we put our close working relationship with
Matsushita to the test, and MEC has responded aggressively and impressively
with this new silicon solution. We expect that the AN7399 will be a most
successful product."
Mr. Ken Morita, Director, IC Division, Semiconductor Company of Matsushita
Electronics Corporation added, "With the new AN7399 we can now offer 3D Stereo
solutions of professional quality for the widest range of consumer electronics
at a reasonable price. Matsushita has had a very close working relationship
with Spatializer since 1993 and we are most excited about the superb business
opportunity provided by the new generation of Spatializer technology. We
intend to develop a series of IC's with the latest technology according to
customer request. We expect sales would ramp up to one million units per
month in the future."
Founded in 1952, Matsushita Electronics Corporation (MEC) is one of the
world's largest manufacturers of various types of semiconductors, color
picture tubes and lighting products including light bulbs and fluorescent
lamps. The company is a wholly owned subsidiary of Matsushita Electric
Industrial Co., Ltd., which is one of the world's leading manufacturers of
consumer and industrial electronic products.
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, Samsung, Acer, Goldstar, Emerson, Zenith and Proton and in PC
multimedia systems and peripherals from, 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: Certain information in this news release, including the comments
by Mr. Mandell in paragraph two are forward looking statements that are based
on management's belief, as well as assumptions made by, and information
currently available to management.
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, 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(R) is a registered trademark of Desper
Products, Inc.
SOURCE Spatializer Audio Laboratories, Inc.
/NOTE TO EDITORS: All Spatializer press releases are available on
theSpatializer web site, www.spatializer.com/
/CONTACT: Henry R. Mandell, Interim Chief Executive Officer,818-227-3370,
henrym@spatializer.com/
/Web site: spatializer.com
Jul-28-1999 07:16 GMT
Symbols:
US;SPAZ
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