To: DMaA who wrote (20787 ) 5/22/2000 2:31:00 PM From: Scrapps Read Replies (1) | Respond to of 22053
Orckit's New Semiconductor Spin-Off to Be Named Tioga Technologies - Nasdaq Symbol 'TIGA' TEL AVIV, Israel, May 22 /PRNewswire/ -- Orckit Communications Ltd. (Nasdaq: ORCT - news) today announced that the new public company to be formed upon the spin-off of Orckit's semiconductor business will be named ``Tioga Technologies Ltd.'' (formerly known as ``Tikcro Ltd.''). Nasdaq has approved the listing of Tioga's ordinary shares under the symbol ``TIGA,'' subject to the U.S. Securities and Exchange Commission's declaring Tioga's Registration Statement on Form 20-F effective. The consummation of the spin-off is expected within several weeks. About Tioga Technologies Tioga Technologies, a fabless semiconductor company, is a provider of standard and customizable integrated circuits (ICs) for broadband communications applications. The company's experience in telecommunications systems, its intellectual property in digital subscriber loop (DSL) technology and its full-custom chip design technology allow it to deliver IC solutions with leadership performance and functionality. Tioga has an extensive track record in developing major DSL technologies (ADSL/G.lite, HDSL, SDSL, HDSL2 and VDSL), with many industry firsts and proven DSL deployment worldwide. Tioga has offices in San Jose, California, Tel Aviv and Jerusalem, Israel. About Orckit Communications Orckit Communications Ltd., a leading provider of Digital Subscriber Line (DSL) Solutions, enables incumbent telephone companies and competitive local exchange carriers to offer high-speed data and Internet access services over existing copper wires in the local loop. Devoted to DSL, Orckit develops, manufactures and markets a complete family of xDSL solutions, including ADSL, SDSL, VDSL and HDSL, offered over its FastInternet(TM) DSL Access Multiplexer (DSLAM) and CopperTrunk© systems. Orckit's DSL solutions are deployed in more than 30 countries. For more information about Orckit and its DSL solutions, visit Orckit's Web site at orckit.com . Certain matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties, including, but not limited to, risks in product development plans and schedules, rapid technological change, changes and delays in product approval and introduction, customer acceptance of new products, the impact of competitive products and pricing, market acceptance, the lengthy sales cycle, proprietary rights of the Company and its competitors, risk of operations in Israel, government regulation, dependence on third parties to manufacture products, general economic conditions and other risk factors detailed in the Company's United States Securities and Exchange Commission filings. FastInternet(TM) and CopperTrunk© are trademarks of Orckit. This release is available on the KCSA Public Relations Worldwide Web site at kcsa.com . SOURCE: Orckit Communications Ltd.