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Technology Stocks : Eshed Robotec (ROBO) - a New Star is Born -- Ignore unavailable to you. Want to Upgrade?

To: George the Greek who wrote (110)	6/16/2000 10:45:00 AM
From: debra vogt	Respond to of 113

Israel Rosen Group to Invest $1.2 Million in Eshed Robotec June 15, 2000 05:31 PM Eastern Time ROSH HA'AYIN, Israel, June 15 /PRNewswire/ -- Eshed Robotec (1982) Ltd. ROBO , today announced that the Israel Rosen Group, a long term shareholder in Eshed Robotec, will invest US$1.2 million in the Company. In consideration of the investment Eshed Robotec will either issue or transfer, at the Company's discretion, 120,000 of the Company's ordinary shares, which will be subject to certain restrictions. The agreement prices these shares at $10 per share, a premium compared to current trading prices. Mr. Rosen declared that as a result of this investment he will take a more active interest in Eshed Robotec. Management intends to invest the $1.2 million in MemCall, following completion of the subsidiary's business plan, to increase its stake in smart memory technology. This agreement is a substitution for a previously announced private placement by the Israel Rosen Group directly into the MemCall subsidiary, with an option to exchange MemCall shares for Robotec shares. Noam Kra-oz, Managing Director, said that MemCall recently underwent a technological and business evaluation by an outside expert. "The consultant was of the opinion that the invention may have significant added value in the fields of Internet services and communications traffic, as well as in the fields of information searches on data base servers," Mr. Kra-oz said. "He also was of the opinion that the invention will have applications in other fields that do not fall within his fields of expertise." Eshed Robotec engages in three business sectors. The first focuses on high tech ventures such as MemCall, a smart memory technology, and SwapStation (http://www.SwapStation.com), an Internet barter site for MP3 files. The second is comprised of Yaskawa Eshed Technology (YET), a joint venture with Japan's Yaskawa Electric Corp., which provides industrial motion controls and robots. The third sector is devoted to Eshed's learning products. Eshed Robotec is a world leader in automation training. The Company is market driven, deriving its growth from technological leadership, strong partnerships and management expertise. For more information, visit eshed.com. To the extent that this press release discusses expectations about market conditions or about market acceptance and future sales of the Company's products, or otherwise makes statements a about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause results to differ materially from the statements made. These factors include the rapidly changing technology and evolving standards in the industries in which the Company and its subsidiaries operate, risks associated with the acceptance of new products by individual customers and by the market place and other factors discussed in the business description and management discussion and analysis sections of the Company's Annual Report on Form F-20. SOURCE Eshed Robotec (1982) Ltd.