To: Stock Watcher who wrote (14615 ) 9/9/1999 9:07:00 AM From: CIMA Read Replies (1) | Respond to of 52051
OGPS - OMICRON ACQUIRES INTERACTIVE RADIO TECHNOLOGY Omicron Technologies, Inc. (OTC BB: OGPS) is pleased to announce that it has acquired a revolutionary satellite-based radio technology through its wholly owned subsidiary, Interactive Radio Corporation. Omicron will issue a total of 5,000,000 restricted common shares to ViaSpace Radio Inc. and Radio Satellite Corporation in exchange for a 100% ownership interest. This digital technology, covered by three detailed patents, will combine navigation, broadcast and two-way communication services to provide mobile users with innovative e-commerce, e-mail, digital quality music, travel, security, global positioning and gaming all at a relatively low cost. The initial marketing focus will be on the automotive, trucking and recreational vehicle markets. Interactive Radio Corporation's management team will be headed by Dr. Carl Kukkonen as Chairman. Most recently, Dr. Kukkonen was Director of the Center for Space Microelectronics Technology and Manager of Supercomputing at NASA's Jet Propulsion Laboratory, a division of the California Institute of Technology (Caltech). Previously, Dr. Kukkonen was a research physicist with Ford Motor Company (NYSE : F). Kukkonen stated, "Our new radio technology has the potential to fundamentally alter the relationship of people to their cars. This is truly an opportunity to change the world." Head of the technical team will be Gary Noreen who was the lead developer of this technology over the past 10 years. Mr. Noreen has been coordinating the development of the communications network for NASA's Mars mission as a Senior Engineer at the Jet Propulsion Laboratory. The patented technology allows the use of existing underutilized satellite capacity to provide these services anywhere in North America. A standard satellite to be launched this year could extend coverage throughout south Asia, and another standard satellite, to be launched next year, will provide coverage throughout Europe, North and Central Africa, the Middle East, Central Asia and the Indian Sub-continent. Interactive Radio Corporation will be pursuing agreements with various satellite owners to ultimately provide worldwide coverage for its product. Interactive Radio Corporation's two-way patented architecture offers many unique services in addition to the standard one-way digital audio services of CD Radio (Nasdaq: CDRD) and XM Satellite Radio, a wholly owned subsidiary of American Mobile Satellite Corporation (Nasdaq: SKYC). For more information and to test-drive Interactive Radio Corporation's virtual prototype visit www.radiosat.com An Unterberg Harris analyst report for U.S. Digital Audio Services estimates that the U.S. digital radio market alone will reach $2.13 billion by 2004. Further, the Yankee Group estimates that the satellite radio could reach 43 million U.S. subscribers by the year 2004. Interactive Radio Corporation anticipates that that the majority of its revenues will be derived from services other than just digital radio, such as e-commerce. Omicron Technologies, Inc. is in the business of acquisition, research and development, and marketing of leading edge technologies for the Aerospace, Telecommunications, Defense, Consumer Electronics and Internet-based business concepts. Through the combined strategy of focusing on marketing niches and speedy development of its proprietary technologies, Omicron expects to gain significant market penetration in these areas. For further information, contact us toll free at: Telephone : 877-903-2288 Web sites www.omicrontechnologies.com www.4value.com www.market-infocom.com www.thesubway.com OMICRON TECHNOLOGIES, INC. Barrett Sleeman, President NOTE: Safe Harbor for Forward-Looking Statements Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of prices, product demand, market compensation, risk inherent in the company's international