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Technology Stocks : Son of SAN - Storage Networking Technologies -- Ignore unavailable to you. Want to Upgrade?

To: trendmastr who wrote (2429)	11/10/2000 5:41:20 PM
From: J Fieb	Read Replies (1) \| Respond to of 4808

tmaster, JNIC is going to try to clear things up on MOnday am.... NI Clarifies Previously Disclosed News About Intended Retirement of Its CEO; Explains Article On SBus Products SAN DIEGO--(BUSINESS WIRE)--Nov. 10, 2000-- JNI to Conduct Conference Call on Monday, Nov. 13 at 8:30 a.m. EST JNI(R) Corporation (Nasdaq:JNIC) today reaffirms previously disclosed information that President and CEO Terry M. Flanagan, Ph.D. has informed the company that he would like to retire. As previously disclosed in public filings and its Third Quarter Conference Call, JNI is actively engaged in a process to find a suitable candidate to replace Dr. Flanagan. "I am partic pating in the search process and plan to stay with JNI until a successor is found," Flanagan said. "I have also agreed to provide consulting services to JNI for a period of 12 months following my retirement and intend to remain a member of the Board of Directors." In addition, a Dow Jones Newswire article reiterated information included in JNI's public filings about Sun Microsystems intention to phase out the SBus interface from their systems and the potential impact on JNI's business. SBus product sales account for approximately 80% of JNI's current revenue. Sun Microsystems has never officially announced an end-of-life date for SBus in its servers, but in public forums certain executives from Sun have indicated that Sun would eventually move to the PCI bus interface or a successor to the PCI bus. Sun has recently introduced a new set of Enterprise servers that include the SBus interface. JNI is not aware of any plan by Sun to eliminate the SBus other than Sun's past public statements. JNI's SBus sales grew 32% from 2Q00 to 3Q00. "We believe the news story takes existing information and, unfortunately misstates its impact on JNI," said Flanagan. JNI will hold a conference call on Monday, Nov. 13 at 8:30 a.m. EST to clarify the news story. Information on the phone number will be released in a news advisory. The call can also be accessed via Webcast at www.vcall.com or www.jni.com. About JNI Corporation JNI Corporation is the fastest-growing Fibre Channel host bus adapter company and the No. 2 manufacturer of Fibre Channel HBAs (non-captive) in revenue according to IDC (3/00). JNI offers a broad line of HBAs, ASICs and software for storage area networks (SANs). JNI's PCI products operate on Solaris, Windows 2000, Windows NT, HP-UX, AIX, Novell, Linux and Mac OS systems. JNI's SBus products run on Solaris. Customers include Amdahl, Avid, Chaparral, Compaq StorageWorks, Consan, EMC, Eurologic, Hewlett-Packard, Hitachi Data Systems, IBM, LSI Logic, McData, StorageTek and Sun Microsystems. Company headquarters are in San Diego, with offices throughout the U.S. and Munich (Munchen), Germany. www.jni.com. JNI -- First in Fibre Channel(TM)