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Technology Stocks : Silicon Graphics, Inc. (SGI) -- Ignore unavailable to you. Want to Upgrade?

To: Don Green who wrote (9558)	11/9/2001 9:54:55 PM
From: Ms. Baby Boomer	Respond to of 14451

SGI Completes Agreement With NEC and NEC Soft Conference Call at 2:00 p.m. PT MOUNTAIN VIEW, Calif., Nov. 9 /PRNewswire/ -- SGI today announced that NEC and NEC's publicly-held affiliate, NEC Soft, have completed the purchase of a 60% interest in SGI Japan, Ltd. for $95 million. SGI expects its net proceeds to be approximately $70 million after settlement of inter-company accounts, deal expenses and customary closing adjustments. SGI has entered into a long-term exclusive distribution agreement with SGI Japan to supply SGI equipment, services and solutions in Japan. The business, jointly owned by SGI, NEC and NEC Soft, will be known as SGI Japan. Effective immediately, SGI will no longer consolidate SGI Japan in its financial statements but will instead record its proportionate share of SGI Japan's earnings as non-operating income. SGI will conduct a conference call today at 2:00 p.m. PT to provide additional details. The US dial-in number is: 1-888-208-1824. The International dial-in number is: 001-719-457-2621. The webcast site is www.sgi.com or www.ccbn.com. Audio replay of this call will be available after 5 p.m. PT today at 1-888-203-1112 (passcode: 573318). All links to the archived webcast and audio replay are available through SGI's web site at www.sgi.com/company_info/investors. biz.yahoo.com