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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: kensusman who wrote (24166)	5/8/2001 11:29:59 AM
From: rli123	Respond to of 27311

Here's the Samsung press release: biz.yahoo.com Samsung SDI Signs Valence Technology Licensing Agreement Range of Samsung Electronic Products to Utilize Patented Lithium-Ion Polymer Technology; Samsung SDI Plans to Produce Patented Batteries for Additional Global Electronic Manufacturers HENDERSON, Nev., May 8 /PRNewswire/ -- Valence Technology, Inc. (Nasdaq: VLNC - news), a leader in the development and commercialization of lithium- ion polymer rechargeable batteries, today announced that it has entered into a technology license agreement with Samsung SDI (KSC: 06405.KS), a premier Korean electronics company with significant resources invested in lithium battery development and manufacturing. Under the agreement, Samsung SDI will use Valence's patented technology, covering the manufacture and use of lithium-ion polymer batteries, including patented technology recently purchased by Valence. Valence Technology will receive an up front fee of $500,000 and royalty payments based on net revenues derived from the sale of lithium-ion polymer batteries manufactured by Samsung SDI using Valence's proprietary technology. This agreement provides Valence an opportunity to receive additional revenue from the sale of lithium-ion polymer battery manufacturing material to Samsung SDI at the request of Samsung SDI. ``Our agreement with Samsung SDI creates strong prospects for the rapid commercialization of lithium-ion polymer batteries incorporating Valence's proprietary technology for worldwide consumer use,'' said Lev Dawson, Chairman and Chief Executive Officer of Valence Technology. ``Samsung has demonstrated its commitment to developing, manufacturing and marketing rechargeable batteries and is a strong addition to the Valence licensee group. This collaboration creates substantial and far-reaching potential to increase the size, scope and number of lithium-ion polymer batteries developed for electronic products. Working within our licensing business model, we are continuing to develop additional license agreements that will offer other electronics manufacturers the ability to incorporate our patented technology.'' ``Our agreement with Valence strengthens the competitiveness of our portfolio of lithium-ion battery solutions,'' said Ky Hoon Ahn, Vice President of Samsung SDI. ``Samsung SDI will add Valence's manufacturing know-how to Samsung's internally developed process technologies to rapidly commercialize this segment of its lithium-ion product offering. Samsung SDI received earlier this year a Letter of Intent from Compaq for its IPAQ PDA and is in development and discussion with several other major OEMS as well as Samsung Electronics regarding lithium-ion polymer solutions for portable communications and computing devices.'' Samsung SDI started research and development for rechargeable batteries in 1991. The company is currently establishing a mass production facility for prismatic and cylindrical lithium-ion batteries and lithium-ion polymer batteries. More than 300 people, including 200 research engineers and 30 Ph.D's, have been researching material and process technology as well as productivity for next generation lithium polymer batteries. Valence Technology and Samsung SDI will immediately begin to transfer and implement the licensed technology to pursue world market demand for lithium- ion polymer batteries in the computing, communications and consumer markets. Currently, Samsung SDI is aggressively marketing lithium-ion polymer batteries to Korean and international telecommunication, computing and consumer electronic companies. About Samsung SDI Samsung SDI's major products are the cathode ray tubes (CRT), mobile displays, plasma display panels (PDP) and rechargeable batteries. The company is the largest CRT manufacture with 22% share of the global market, and the second largest producer of both super twisted nematic-liquid crystal displays (STN LCD) and vacuum fluorescent displays (VFD) with global market share of 19% and 22% respectively. Other primary new business divisions include PDPs and OLEDs. For the fiscal year ended December 31, 2000, Samsung SDI recorded 5,548 trillion Won ($4,407 million) of revenues. Samsung SDI, a Korean electronics company is publicly traded in the Korean stock exchange. For more information visit www.samsungsdi.com . About Valence Technology, Inc. Valence is the leader in the design, manufacture and marketing of rechargeable lithium-ion polymer batteries. In December 2000, Valence acquired Telcordia Technologies Inc.'s patents in lithium-ion polymer battery technology and 15 existing licensing agreements. Valence has been in discussions with the licensees as well as several potential licensees interested in manufacturing lithium-ion polymer batteries. Valence Technology's patent portfolio for lithium-ion polymer technology consists of over 790 patents and pending applications worldwide, including 284 issued patents in the U.S. Valence operates facilities in Henderson, Nevada and Mallusk, Northern Ireland. Valence is traded on the Nasdaq National Market under the symbol of VLNC. Valence can be found on the internet at valence.com . The information contained herein includes forward-looking statements that involve risks and uncertainties. In particular, the establishment, development and potential success of product development and production outcomes are subject to risks and uncertainties both within and outside Valence's control. Among the factors that could cause actual results to differ are the ability of Valence to integrate licensing into its operations, including the management of the existing Telcordia licenses. These risk factors are described from time to time in Valence's SEC reports, including on Form 10-K for the year ended March 31, 2000 and on Form 10-Q for the quarters ended June 30, 2000, September 30, 2000 and December 31, 2000 to which readers are referred.