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Technology Stocks : The Panda Project (PNDA) -- Ignore unavailable to you. Want to Upgrade?

To: bry57 who wrote (770)	1/28/1998 11:27:00 AM
From: Bubba1008	Read Replies (1) \| Respond to of 1521

News! BOCA RATON, Fla., Jan. 28 /PRNewswire/ -- The Panda Project, Inc. (Nasdaq: PNDA) today announced it has received a $1.2 million order for its VSPA(TM) custom semiconductor package from Veridicom, Inc. of Santa Clara, California. The order includes both tooling charges and initial piece part commitment on the device, which houses an advanced fingerprint sensor for use in computer, office, communications, automotive and related applications. While initial tooling is capable of producing 4 million parts per year, that capacity can be expanded to meet increased demand from Veridicom. The order is the culmination of an intense design effort in which Panda responded to Veridicom's need for a robust, highly customized solution for its leading edge device. "We responded to their need to achieve a new level of performance in this custom application," commented Stanford W. Crane, Jr., Panda's President and CEO. "Utilizing the combined talents of our design staff in Boca Raton, our applications group in Silicon Valley, our Certified Assembler (Gateway Electronics Corporation) and the input from the team at Veridicom, we demonstrated that the VSPA package is flexible enough to supply a superior product from design through working prototype in a very short time." "I have worked with several vendors in my career, but I have never had an organization perform like the folks at The Panda Project," said Peter Gall, Veridicom's Director of Silicon Manufacturing. "Veridicom needed a special design that could accommodate our fingerprint sensor and meet requirements like no other device on the market. Within days of first meeting with with Mellisa Crane and Panda's sales organization, their design group had a working prototype in our hands. I have seen a lot of packages come to market over the past 15 years, but none has the characteristics and pricing of Panda's VSPA." Forward-looking statements in this release, including statements concerning amounts and timing of revenue and demand for the VSPA product, are based on information available to the Company as of the date hereof and involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are delays in product development, competitive pressures, general economic conditions, risks of intellectual property litigation, and the risk factors detailed from time to time in the company's periodic reports and registration statements filed with the Securities and Exchange Commission. Visit The Panda Project on the World Wide Web at pandaproject.com SOURCE The Panda Project, Inc. -0- 01/28/98 /CONTACT: Daryl Hollis, CFO of The Panda Project, 561-994-2300; or Investor Relations - Loren Brown of International Investor Relations Group, 407-865-9433/ /Web site: pandaproject.com (PNDA) CO: Panda Project, Inc.; Veridicom, Inc. ST: Florida, California IN: CPR SU: DY-KE -- NYW045 -- 7323 01/28/98 11:02 EST prnewswire.com //Begin Meta Data// Selector Code: f.b7c Copyright 1998, PR Newswire