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To: SemiBull who wrote (3295)	1/22/2002 7:18:53 PM
From: SemiBull	Read Replies (1) \| Respond to of 3493

ESS Technology Announces MPEG Audio and Video Encoder Chip MPEG Encoder to Enable Digital Home Entertainment Products FREMONT, Calif., Jan. 22 /PRNewswire-FirstCall/ -- ESS Technology (Nasdaq: ESST - news), a leading provider of silicon solutions for digital video, digital home systems, and home networking solutions, announced today that it will offer a chip with digital video and audio encoding capability based on licensed technology. ESS expects to begin providing reference designs and samples for this chip, the ES6610 MPEG Audio & Video Encoder, in the second quarter of 2002. This chip will target applications such as digital set-top boxes, DVD players, and Digital Video Recorders (DVRs). Using an encoder device in digital set-top boxes will enable them to delay, pause, record, and search live video broadcasts. In addition, DVD players using an encoder device will be able to record and playback audio and video broadcasts. Both hard disk drive and optical media-based applications will be supported. Patrick Ang, executive vice president and COO at ESS Technology stated, ``This new video encoder chip expands the array of features and functionality offered by ESS for the digital home system. With MPEG encoder and decoder chips both available from ESS, we believe our customers will be better positioned to bring to market the next generation of consumer electronics applications.'' About ESS Technology ESS Technology, Inc., is a leading supplier of high-performance feature-rich chips for the rapidly expanding DVD and digital entertainment markets. The company is also a leading provider of solutions for applications in the growing consumer entertainment market. ESS solutions enable the emergence of digital home systems that deliver and manage entertainment and information in the home. ESS, headquartered in Fremont, California, has R&D, sales, and technical support offices worldwide. ESS Technology's common stock is traded on the Nasdaq under the symbol ESST. ESS Technology's web site address is: esstech.com . The matters discussed in this news release include certain forward-looking statements that involve risks and uncertainties, including, but not limited to, the possible reduction of consumer spending occasioned by terrorist activity and armed conflict, the timely availability and acceptance of the Company's new products, the impact of competitive products and pricing, the dependence on continued growth in demand for PC and consumer multimedia products, the fact that the initial determinations described herein are subject to further review and appeal, and the other risks detailed from time to time in the SEC reports of ESS, including the reports on Form 10-K and Form 10-Q. Actual results could differ materially from those projected in the forward-looking statements. SOURCE: ESS Technology, Inc.