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To: SSP who wrote (92292)	9/22/2001 12:18:50 PM
From: Jim Bishop	Respond to of 150070

Microsoft delays XBox launch by a week By Ben Berkowitz LOS ANGELES, Sept 21 (Reuters) - Microsoft Corp.(NasdaqNM:MSFT - news) on Friday pushed back the launch of its XBox video game console by a week and backed away from its initial shipment targets, leaving U.S. retailers and game publishers expecting about half as many units when the XBox makes its delayed debut on Nov. 15. The decision to to delay the much-anticipated launch of the next-generation game platform from Nov. 8 to Nov. 15 was made in the past week, said Robbie Bach, Microsofts' chief XBox officer, citing a recent review of the company's preparations. Microsoft still plans to ship between 1 million and 1.5 million units to retailers by the end of the calendar year, but would not provide a forecast for the first batch of shipments. ``We've just moved on to not focusing on the day-one number,'' Bach said. The XBox represents Microsoft's push into the $20-billion video game industry, now dominated by Japan's Sony Corp. and Nintendo Co Ltd., both of which have competing 128-bit game consoles. Analysts scaled back forecasts for initial sales of XBox, but some praised the delay as prudent given the uncertainty surrounding consumer sales for the crucial holiday period. Retailers and game publishers remained upbeat about prospects for the XBox. But rivals said Microsoft made a misstep, creating an opening for the PlayStation 2 and Nintendo's upcoming GameCube. Analysts, retailers, and game publishers said the number of XBox consoles available on the launch day would be around 300,000 -- about half of Microsoft's initial target of between 600,000 and 800,000. ``I'm now assuming that they'll have 300,000 (units) at launch,'' said Michael Wallace, a UBS Warburg analyst, who cut his forecast for the year-end to 500,000 to one million units. Brendan Barnicle of Pacific Crest Securities said by reducing its initial shipments, Microsoft should also cut related costs, helping its bottom line. ``They're trying to figure out what's going to happen with consumer confidence,'' he said. Sony Corp., which had its own problems with shipping shortfalls when PlayStation 2 premiered last year, called Microsoft's announcement a ``rookie move.'' ``I'm not exactly sure what one week is going to buy them,'' a Sony spokeswoman said. ``I think there are clear indications they're not ready for this launch.'' Peter Main, Nintendo of America executive vice president of sales and marketing, said the news was ``nothing short of catastrophic'' for game retailers, who began to hear of the reduced launch shipments last Friday. Main said many retailers have asked Nintendo for more GameCube consoles, scheduled to debut the same week as the XBox, to make up for the shortfall. ``I'm going to push hard to steal every additional piece I can get from Japan,'' he said, adding that it was not clear if he could get more than the 700,000 units Nintendo has already allocated for its U.S. launch on Nov. 18. ON TRACK FOR YEAR-END TARGETS Production of the XBox consoles has begun at a plant in Mexico run by Flextronics International Ltd.(NasdaqNM:FLEX - news) ``We'll be able to replenish the North American market at a rate of over 100,000 units a week,'' Bach said. Microsoft plans to have 15 to 20 games available at launch for the $299 console, and 30 by the end of the year. Among the more notable titles expected at or around launch are ``WWF: RAW Is WAR,'' ``Dave Mirra Freestyle BMX 2,'' and ``NFL Fever 2002.'' Microsoft was evaluating titles for any material that might be considered offensive in light of the attacks on New York and the Washington, Bach said, in line with steps other video game publishers have already announced. ``Generally, what you see in the marketplace is people doing what's appropriate...and we will do the same,'' he said. In late August, Microsoft delayed the launch of the XBox in Japan to Feb. 22 of next year in order to concentrate resources and available units in North America. The software giant has said it will spend about $500 million marketing the XBox in the United States. The game console, one of Microsoft's only forays into hardware manufacturing, has been dogged by rumors about its availability and launch date for months. That concern has weighed on related stocks, such as Santa Clara, California-based NVIDIA Corp.(NasdaqNM:NVDA - news), which closed down 1.9 percent Friday and 28.8 percent for the week. NVIDIA is making the primary graphics chip for XBox. Microsoft's major partners with the XBox rallied behind the company on Friday, including retailers Toys R Us Inc.(NYSE:TOY - news) and Electronics Boutique Holdings Corp.(NasdaqNM:ELBO - news), and game publisher THQ Inc.(NasdaqNM:THQI - news) ``Microsoft has recognized that the road to success is more of a marathon than a sprint,'' said Peter Moore, president of Sega of America, which will make games for XBox. The video game industry had expected a banner holiday season thanks to the XBox and GameCube launches and new titles for Sony's PlayStation 2. But some analysts were ratcheting back those expectations after the attacks on New York and Washington and expectations of a U.S. recession. Shares in Microsoft closed down 2.1 percent at $49.71 on the Nasdaq on Friday.

To: SSP who wrote (92292)	9/22/2001 12:19:39 PM
From: Jim Bishop	Respond to of 150070

GE Pares Earnings Forecast for 2001 but Still Sees Double-Digit Growth By HOPE YEN AP Business Writer NEW YORK (AP) -- General Electric Co. pared its earnings forecast, but still expects double-digit growth and remains well-positioned even after heavy insurance losses from last week's terrorist attacks, CEO Jeffrey Immelt said Friday. ``The GE model works,'' Immelt said Friday in his first meeting with investors since taking the helm. ``We're looking at this unmistakable tragedy as a time of strength for the company.'' GE, the world's largest company with a $308 billion market value, said Friday it expected 2001 per-share earnings growth of 11 percent to $1.41 per share, up from $1.27 last year. Before the Sept. 11 attacks on the World Trade Center and the Pentagon, the company had forecast earnings of $1.45; analysts surveyed by Thomson Financial/First Call had expected $1.43 a share. Immelt, who took over as chairman and CEO from Jack Welch on Sept. 7, told investors at a meeting in New York that the company's diversified businesses, much of it acquired during the past two decades under Welch, will help GE manage losses from its aircraft engine division and at the NBC broadcasting network, which cut advertising for several days after the attacks. GE's Employers Reinsurance Corp. is among several companies providing insurance and reinsurance coverage of the World Trade Center and the four aircraft used in the terrorist attacks. Last week it said it would incur $600 million in pretax insurance losses. Before the attacks, GE was on track to meet the consensus estimate of analysts surveyed by First Call for the third quarter of 37 cents per share, up 16 percent from last year. However, ERC's losses could reduce third-quarter net income by 4 cents to 33 cents per share, up 3 percent from 2000. ``GE is built to outperform,'' said Immelt, who also predicted double-digit growth in 2002. ``I was chairman for two days, and then I had jets with my engines hit a building I insured which was covered by a network I owned, and we still grew (2001) earnings by 11 percent. I think we're in pretty good shape.'' GE, based in Fairfield, Conn., plans to provide further guidance on next year in December. Immelt cited solid growth in the power systems and medical systems divisions, as well as GE Capital Services, the financial services arm which brings in more than half of GE's revenue. He said the outlook assumed a ``very bad economy,'' but doesn't take into account a ``major dislocation caused by war,'' such as a dramatic spike in oil prices. Investors appeared to like what they heard. Shares rose 93 cents, or 3.1 percent, to close at $31.30, amid turbulent trading Friday on Wall Street. In heavy trading, the Dow Jones industrial average fell 140.40 points to 8,235.81, a loss of 1.7 percent. Immelt also told investors that GE was actively looking for acquisitions, particularly in the now-depressed jet-engine market as well as financial services. In July, GE announced it would buy commercial finance company Heller Financial Inc. [NYSE:HF - news] for $5.3 billion after European antitrust regulators blocked GE's acquisition of Honeywell International. ``I'm going to be just as radical about the future as Jack has been in the past,'' he said. Some analysts attending Friday's meeting said they were reassured by Immelt's leadership, just two weeks after he took over from the legendary Welch. ``In a very short period of time, they thought through an awful lot of possibilities for how the business is going to be affected, and they already seem to have steps in place to limit the damage and make things better,'' said Jim Bitter, analyst with Wilmington Trust.

To: SSP who wrote (92292)	9/22/2001 12:22:09 PM
From: Jim Bishop	Respond to of 150070

SatCon Reaffirms Plan to Distribute 5,000,000 Shares of Beacon Power Common Stock to Satcon Stockholders CAMBRIDGE, Mass.--(BUSINESS WIRE)--Sept. 21, 2001--To ensure broad awareness of its plan to distribute common stock to stockholders, SatCon Technology Corporation® (Nasdaq NM: SATC - news), a leader in power and energy management products, today reaffirmed an announcement made last week wherein the company stated it intends to make a pro rata distribution to its stockholders of 5,000,000 shares of common stock of Beacon Power Corporation held by SatCon, subject to certain contingencies. Terms of the planned distribution have not changed since the company's initial announcement on September 13, 2001. SatCon currently owns 9,705,910 shares, or approximately 23%, of Beacon Power's common stock. After the distribution, SatCon will own 4,705,910 shares, or approximately 11%, of Beacon Power's of common stock. SatCon also owns a warrant to purchase 173,704 shares of Beacon Power's common stock at an exercise price of $1.25 per share. SatCon's strategic supply relationship with Beacon Power will continue intact and David Eisenhaure, SatCon's President, CEO and Chairman, will remain on Beacon Power's Board of Directors. The record date to establish the SatCon stockholders entitled to receive shares of Beacon Power's common stock has been set for Monday, September 24, 2001. Assuming the contingencies described below have been satisfied, the distribution date is set for Friday, September 28, 2001, and the ex-dividend date will be the next business day, or Monday, October 1, 2001. On the distribution date, assuming the contingencies are satisfied, holders of shares of SatCon's common stock are expected to receive approximately .3023 shares of Beacon Power common stock for each share of SatCon common stock held on the record date. Because there are convertible securities of SatCon outstanding, the exact ratio cannot be conclusively determined until the record date. Cash payments will be made in lieu of fractional shares. The proposed contingent distribution of Beacon Power common stock is subject to the following three contingencies: 1. The closing price of Beacon Power's common stock on the Nasdaq National Market on the distribution date may not be in excess of $5.50 per share. 2. SatCon's Board of Directors must have received a capital surplus and solvency opinion acceptable to the Board of Directors with respect to the distribution. 3. The distribution must be consummated by SatCon's transfer agent prior to September 30, 2001, the last day of SatCon's fiscal year. In the event that any one of these contingencies is not satisfied or waived by SatCon's Board of Directors, SatCon will not effect the proposed contingent distribution. The distribution will be treated as a taxable distribution for SatCon and its stockholders for U.S. federal income tax purposes. However, SatCon expects that, based on the current market value of Beacon Power shares, the entire gain will be offset by SatCon's operating loss for its fiscal year ending September 30, 2001. If so, SatCon would not incur any current year obligations to pay federal income taxes, and none of the distribution would be treated as a taxable dividend to SatCon's stockholders. SatCon's stockholders would only recognize gain on the distribution to the extent that the fair market value of the .3023 shares of Beacon Power common stock received by a stockholder exceeded the stockholder's tax basis in the SatCon share with respect to which the distribution was received. SatCon believes that because its operating loss for the current fiscal year will likely be sufficient to offset the amount of gain attributable to the Beacon Power shares that are proposed to be distributed, SatCon has an opportunity, that may not exist in future years, to distribute the Beacon Power shares to SatCon's stockholders with little or no current tax cost. The precise amounts of gain or income on which SatCon and its stockholders will be obligated to pay tax, if any, will depend on several future facts and circumstances including, in particular, SatCon's performance over the remainder of its fiscal year and the price of Beacon Power's common stock on the date of the distribution. About SatCon Technology Corporation SatCon Technology Corporation manufactures and sells power and energy management products for digital power markets. SatCon has three business units: SatCon Power Systems manufactures and sells power systems for distributed power generation, power quality and factory automation. SatCon Semiconductor Products manufactures and sells power chip components, power switches, RF devices, amplifiers, telecommunications electronics and hybrid microcircuits for industrial, medical and aerospace applications. SatCon Applied Technology develops advanced technology in digital power electronics, high-efficiency machines and control systems with the strategy of transitioning those technologies into products. For further information, please visit the SatCon website at www.satcon.com. Statements made in this document that are not historical facts or which apply prospectively are forward-looking statements that involve risks and uncertainties. Among the important factors that could cause SatCon's actual circumstances or results to differ materially from those implied by such forward-looking statements include the non-fulfillment of any or all of the distribution contingencies to be satisfied for any reason including, the inability of SatCon's transfer agent to effect the distribution by September 30, 2001, the failure to obtain the cooperation of Beacon Power to consummate the proposed contingent distribution, the price of Beacon Power common stock exceeding $5.50 per share on the date of distribution, changed market conditions, or unforeseen developments in SatCon's business and industry. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in SatCon's filings, including, but not limited to, SatCon's Forms 10-K, Forms 10-Q and Forms 8-K. Copies of those filings are available from SatCon and the Securities and Exchange Commission. -------------------------------------------------------------------------------- Contact: SatCon Technology Corporation(R) Sean F. Moran Chief Financial Officer 617.661.0540 or PondelWilkinson MS&L Corporate and Investor Relations Robert Whetstone, Rosemary Moothart 310.207.9300

To: SSP who wrote (92292)	9/22/2001 12:23:06 PM
From: Jim Bishop	Respond to of 150070

SatCon System Provides Power and Controls for Marine Corp's New Hybrid-Electric Combat Vehicle CAMBRIDGE, Mass.--(BUSINESS WIRE)--Sept. 20, 2001--SatCon Technology Corporation® (Nasdaq NM: SATC - news), today announced that it has delivered four digital power control and conversion systems that were installed and operationally tested in the new Reconnaissance, Surveillance and Targeting Vehicle (RST-V) being developed for the U.S. Marine Corps. The SatCon digital power conversion and control systems performed to specification and provided peak power of 80kw in an extremely small footprint of roughly 12 inches wide, 24 inches long and 4 inches deep. The systems were developed under a contract previously awarded to SatCon. As a result of the testing, two additional power systems have been ordered and are due for delivery over the next few weeks. The Reconnaissance, Surveillance and Targeting Vehicle is a hybrid electric vehicle that is light enough to be transported and dropped into place by a helicopter. It is designed to carry three or four marines over off road conditions through either desert or mountainous terrain, near to or behind enemy lines. In order to avoid detection, the vehicle uses a hybrid-electric propulsion system to avoid sound and hot exhaust signatures. The RST-V is being developed and funded by a Defense Advanced Research Project Agency (DARPA) program for the Marine Corps. (http://www.4wdonline.com/Mil/US/RSTV.html) ``Because of the nature of this new combat vehicle's mission, it has to be somewhat stealth,'' said David Eisenhaure, SatCon's President and Chief Executive Officer. ``That means eliminating engine sounds and exhaust heat as well as designing other structural features into the vehicle. SatCon met the challenge of designing and developing a digital power conversion and control system that has to provide 80kw of peak power in a footprint that is extremely small and lightweight, while durable enough to withstand harsh operating conditions. We were very pleased to see that our digital power control and conversion systems performed well in the test of RST-V vehicles under off-road conditions. The special design characteristics and electronic packaging techniques used in the development of the RST-V power control and conversion system are based on the same proprietary technology that SatCon employs in its commercial digital power products. We are also completing the design and development of a digital power conversion and control system for commercial hybrid-electric vehicles under a $10 million dollar contract from the Department of Energy. These power modules are being designed for low-cost, high-volume manufacture and can be used in our UPS (uninterruptible power supply) and power quality products.'' About SatCon Technology Corporation SatCon Technology Corporation manufactures and sells power and energy management products for digital power markets. SatCon has three business units: SatCon Power Systems manufactures and sells power systems for distributed power generation, power quality and factory automation. SatCon Semiconductor Products manufactures and sells power chip components; power switches; RF devices; amplifiers; telecommunications electronics; and hybrid microcircuits for industrial, medical, and aerospace applications. SatCon Applied Technology develops advanced technology in digital power electronics, high-efficiency machines and control systems with the strategy of transitioning those technologies into products. For further information, please visit the SatCon website at www.satcon.com. Statements made in this document that are not historical facts or that apply prospectively are forward-looking statements that involve risks and uncertainties. The important factors that could cause SatCon Technology Corporation's (``the company's'') actual circumstances, or results, to differ materially from those implied by such forward-looking statements include the ability to successfully sell and manufacture these hybrid-electric components in quantities; developments in the company's business and industry; market conditions; and the inability to gain customer acceptance of the company's products. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in the company's filings including, but not limited to, the 10-K and 10-Q. Copies of those filings are available from the company and the Securities and Exchange Commission. -------------------------------------------------------------------------------- Contact: SatCon Technology Corporation(R) Michael Turmelle 617.661.0540 or PondelWilkinson MS&L Robert Whetstone or Rosemary Moothart 310.207.9300

To: SSP who wrote (92292)	9/22/2001 12:24:09 PM
From: Jim Bishop	Respond to of 150070

Tekron Announces Completion of Agreement FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Sept. 19, 2001--Tekron, Inc.(OTCBB:TKRN - news) announced today that it has completed a definitive Merger Agreement with Finline Technologies Ltd., for the sale of Finline International Inc., a wholly owned subsidiary. In consideration, Finline International will transfer to Tekron 100% of the issued and outstanding shares of Finline International. Finline Technologies Ltd., is a designer and manufacturer of broadband wireless systems, focusing on MMDS ``Wireless Cable'' solutions for the provision of video, voice, and high-speed data services. Based in Waterloo, Ontario, Canada, Finline has successfully deployed its systems and components worldwide to operators in fourteen countries on five continents. This announcement contains forward-looking statements that involve risks and uncertainties, including those relating to the Company's ability to develop and expand its business. Actual results may differ materially from the results anticipated and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among other things, the Company's limited operating history, its limited financial resources, intense competition within the technology industry, incapacity to market and develop its technological capacities, difficulties and risks associated with operating in foreign jurisdictions, domestic and global economic conditions and conditions of the equity markets. More information about the potential factors that could effect the Company's business and financial results is and will be included in the Company's filings with the Securities and Exchange Commission. -------------------------------------------------------------------------------- Contact: Wall Street Daily Press Michael Muzio, 813/242-8761 Fax: 813/242-8762 or Tekron, Inc. Mr. William Kefalas, 416/679-0707 Fax: 416/679-0780

To: SSP who wrote (92292)	9/22/2001 12:25:35 PM
From: Jim Bishop	Respond to of 150070

Xybernaut Strengthens Focus on Law Enforcement, Public Safety, and Related Market Sectors Addresses Evolving Role of Public Safety Professionals FAIRFAX, Va.--(BUSINESS WIRE)--Sept. 21, 2001--Xybernaut Corporation (Nasdaq: XYBR - news), the leader in mobile and wearable computing technologies, today announced the company has strengthened its ability to provide wearable computing technologies and mobile computing solutions to law enforcement and public safety organizations. As part of this initiative, Xybernaut will immediately be offering LawTrack, a family of software products specifically for law enforcement and public safety applications. These software products provide a comprehensive platform to support many of the most important and routine functions performed by law enforcement and public safety professionals including: Data gathering Traffic stops Crime scene investigation Evidence tracking Federal and state database access Crime reports Court date tracking Incident reports Arrest tracking Criminal activity trending Instant messaging Safety inspection for facilities Safety inspection for vehicle Xybernaut is integrating these LawTrack products with off-the-shelf, as well as proprietary hardware and software systems, to develop comprehensive solutions for public service agencies. ``We are all deeply saddened by the recent tragic events in New York, Washington and Pennsylvania, particularly by the impact on New York's community of public servants,'' stated Edward G. Newman, chairman, president and CEO of Xybernaut Corporation. ``Though we have been supporting law enforcement, public safety, military and government agencies for more than a decade, we feel strongly that Xybernaut wearable computing technologies can serve a vital role during this time of recovery and even more so as these professionals return to what will now be a changed face of military and public service.'' In a related initiative, Xybernaut announced that Robert A. Michels has joined the company and will manage the newly formed Mobile Enterprise Solutions division of Xybernaut Solutions Inc.(XSI) where he will report directly to XSI's CEO, Mr. Vernon T. Miskowich. With over 15 years experience in mobile computing and related communications technologies for law enforcement, Michels brings a diverse background of management expertise which will further strengthen Xybernaut's ability to strengthen its leadership position in strategic market sectors. ``Continuation of our successful expansion and sustainable growth requires a unique blend of leadership and Bob is a welcome addition to the Xybernaut team,'' Miskowich added. Prior to joining Xybernaut, Michels was president and CEO of Mobile Commerce and Computing (MC2), building the privately-held company into a leader in mobile computing solutions for the law enforcement and public safety industry sectors. Michels directed all efforts in business development, service processing, billing, account management, and channel development. Mobile Enterprise Solutions will direct initiatives associated with the cross-section of wearable computing technologies and mobile enterprise computing strategies concentrating on assisting enterprise customers as they harness mobile and wearable computing tools and technologies as a means to increase productivity, improve quality of services, and leverage resources across the enterprise. Michels will direct these effort and lead efforts specifically related to the law enforcement and public safety industry sectors. About Xybernaut Corporation Xybernaut Corporation is the leading provider of wearable computing hardware, software and services; bringing communications and full-function computing power in a hands-free design to people when and where they need it. The Mobile Assistant® V (MA® V), Xybernaut®'s patented wearable PC, runs all major PC operating systems, including Windows® 98/2000/NT, Linux and SCO Unix. With the MA V, customers can realize immediate savings in maintenance, repair, diagnosis, inspection, inventory control and data collection in a broad spectrum of industries, including manufacturing, distribution, utilities, government and transportation. Xybernaut also provides hyper linking, multimedia authoring tools, project management, asset management and speech software toolkits. Headquartered in Fairfax, Virginia, Xybernaut has offices and subsidiaries in Europe (Germany) and Asia (Japan). Visit Xybernaut's web site at www.xybernaut.com. Windows and Windows NT are registered trademarks of Microsoft Corporation. This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the ``Act''). In particular, when used in the preceding discussion, the words ``plan,'' ``confident that,'' ``believe,'' ``scheduled,'' ``expect,'' or ``intend to,'' and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, the availability of components and successful production of the Company's products, general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings. -------------------------------------------------------------------------------- Contact: Xybernaut Corp., Fairfax Michael Binko, 703/654-3637 mbinko@xybernaut.com or Hill Communications Chad Hill, 925/945-7910 hillcomm@earthlink.net or The Wall Street Group Ron Stabiner, 212/888-4848 rstabiner@thewallstreetgroup.com