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Microcap & Penny Stocks : DVID -- Ignore unavailable to you. Want to Upgrade?

To: John Anderfuren who wrote (120)	8/12/1999 5:20:00 PM
From: Skywatcher	Read Replies (2) \| Respond to of 149

DVS Announces a Joint Venture in Shanghai and a Spin-Off in the U.S. MOUNTAIN VIEW, Calif., Aug. 12 /PRNewswire/ -- Aug. 9 /PRNewswire/ -- Digital Video Systems, Inc. (Nasdaq: DVIDC - news) today announced that it has entered into a joint venture partnership with Shanghai Industrial Investment (Group) Company Ltd. And Shanghai Zhungfu Urban Investment & Construction Company Ltd. The name of the joint venture is Shanghai Digital Video Systems Co., Ltd. This joint venture's operations include the production, processing, and servicing of products based on DVS' technologies. This joint venture was formed with the assistance of the Chinapro Group,which is a part of the strategic alliance previously announced in May 1999. In addition to the initial founding capital, DVS' two partners shall jointly provide up to US $87 million of additional working capital for the increased DVS product line capacity. Except for financing, DVS shall retain all facets of management control, including, but not limited to, the area of sales, marketing, manufacturing, and engineering. Co-Chairman and CEO Ms. Kuo said, ''The formation of this joint venture greatly expands our production volume and the corresponding financial capacity. This will enable us to become a major player in this field and be considered as a supplier by tier-one computer OEM's.'' DVS also announced its decision to reactivate and spin off its Atlanta New Media Division, which specialized in Ad-Insertion technologies, as an independent subsidiary of DVS. The Atlanta operations were discontinued by the previous management because its main competitor, Seachange International, had obtained the lion's share of the market in the US. However, there is still a vast untapped opportunity in other parts of the world, including Asia. The Company believes that DVS has the right technology and expertise to enter the international market. 87 mill should go far to get the C taken off eh? hoping so anyway. chris