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To: BigTex who wrote (7342)	9/21/1999 3:56:00 PM
From: Spark	Read Replies (1) \| Respond to of 19297

September 21, 1999 15:50 JMAR Technologies Inc. Signs Investment Banking Agreement With Sands Brothers & Co., Ltd. of New York SAN DIEGO--(BUSINESS WIRE)--Sept. 21, 1999--JMAR Technologies Inc. (Nasdaq:JMAR), a growing provider of precision micro-technology products, today announced that it has entered into a two year investment banking agreement with Sands Brothers & Co., Ltd. of New York, a member firm of the New York Stock Exchange, whereby Sands Brothers will advise the company on merger and acquisition strategies, capital raising activities and corporate development opportunities. Lloyd H. Saunders, III, managing director of Sands Brothers, stated "With its rapidly emerging proprietary semiconductor products, JMAR is poised to play a major role in the mushrooming telecom switching market, key to the future of high-speed broadband transmission of voice, data, and video information that is fundamental to the future of commerce and the Internet. Furthermore, JMAR's world-leading "Advanced Light" technology has already produced several unique high performance X-ray and laser light sources that we believe could significantly impact a number of microelectronics manufacturing markets in the near future. "Sands Brothers strongly believes that JMAR is undervalued in the public marketplace to a significant degree. Accordingly, we are looking forward to playing a key role in assisting JMAR's management in the rapid expansion of its exciting businesses to seize the opportunity to establish JMAR as a recognized leader in its emerging Semiconductor Products and High Performance Manufacturing Equipment markets." John S. Martinez, Ph.D., chairman and chief executive officer of JMAR, added, "We are impressed by Sands Brothers' track record and successful experiences on Wall Street. JMAR hopes to leverage Sands Brothers' considerable and proven investment banking expertise to help us unlock and display to the investment world the true value of our Semiconductor and Advanced Light businesses thereby helping to achieve our current corporate growth objectives. Martinez added, "Although JMAR's sales have grown at a compounded annual rate of 65% since its IPO in 1990, two of our three business areas -- Semiconductor Products and Advanced Light (X-ray and Laser Light Sources) are just beginning to make a significant impact on our consolidated results. The near-term and longer-term product and market opportunities for these rapidly emerging areas are very substantial. Our goal is to move aggressively to posture JMAR as a major Technology leader for the 21st Century." "Supported by coverage from Sands Brothers' widely respected research department we are hopeful that Wall Street will take fast notice of JMAR and recognize the grossly undervalued opportunity we believe it represents." He continued, "For example, we recently completed an analysis of a group of telecom semiconductor chip manufacturers that have gone public within the past few years having pre-IPO businesses quite comparable to JMAR Semiconductor Inc. That analysis provides persuasive evidence that our semiconductor division, alone, could be valued at many times greater than JMAR's total value in the public marketplace, today. With a strategic partner like Sands Brothers on our team, we expect the potential for both short and long-term success of JMAR to be dramatically enhanced." Sands Brothers & Co., Ltd. of New York is nationally recognized as a leading New York Stock Exchange member firm. Founded in 1990, Sands Brothers currently has over 350 employees in its New York City and San Francisco offices and manages over $1 billion in client assets. The firm offers its clients the full range of services required to deal with the complex challenges of growth, including merger and acquisition advice, public offerings of equity and debt, as well as institutional private placements. JMAR Technologies Inc. develops, manufactures and markets precision measurement, motion control and custom manufacturing systems, provides custom semiconductor products for the microelectronics industry and is a leading developer of advanced light sources for lithography and other high value manufacturing and metrology applications for the semiconductor and related industries. Please visit JMAR's www.jmar.com Web site for additional information on the company. The statements regarding JMAR's potential business opportunities are forward-looking statements based on current expectations that are subject to risks and uncertainties, including failure of future orders to materialize as expected, failure of advanced technology to perform as predicted and the other risks detailed in the company's Form 10-K and other reports filed with the SEC. CONTACT: JMAR Technologies Inc. Dennis E. Valentine, 858/535-1706 jmar.com JMAR TECHNOLOGIES - JMAR Price 1 9/16 Net Change +1/32 Volume (000) 4 Day High 1 19/32 Day Low 1 9/16 as of 09/21/99 15:52 PM EDT