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Technology Stocks : Odetix (ODETA) best in mass data storage, going up!!! -- Ignore unavailable to you. Want to Upgrade?

To: Scott D. who wrote (494)	3/27/1998 10:41:00 PM
From: BARRY ALLEN	Read Replies (1) \| Respond to of 529

Friday March 27, 7:23 pm Eastern Time Company Press Release StorageTek to Appeal Verdict LOUISVILLE, Colo.--(BUSINESS WIRE)--March 27, 1998--Storage Technology Corp. (NYSE:STK - news) said today that it will appeal a jury's verdict in a patent infringement suit in U.S. District Court in the Eastern District of Virginia. The jury found today that the pass-through port on certain StorageTek tape library products willfully infringes a patent held by Odetics Inc. [Nasdaq:ODETA - news] and awarded damages of $70.4 million. This was the second trial in the case. In the first trial held in 1996, StorageTek was found not to infringe the patent and no damages were awarded. However, the case was remanded for a second trial. The company continues to believe that its pass-through port does not infringe the Odetics patent and that its position will be upheld on appeal. The company said that it believes the verdict will have no material adverse effect on its tape library business or its customers. ''As a precaution, we have designed an alternative for the pass-through function that would allow our customers to continue to enjoy the benefits of our Nearline solution,'' said Gary Francis, vice president and general manager for StorageTek's Enterprise Nearline Business Group. The trial judge scheduled a hearing for April 17 to consider post-trial matters, including the nature and timing of any injunctive relief that may be granted, whether to increase the damage award up to three times the jury award, and StorageTek's motion to overturn the jury verdict. StorageTek is the preeminent provider of network computing storage. The company's products and services are used to store, transport and secure more than 100 petabytes of the world's information, ranging from mainframe data to client/server applications to video and audio. The company, based in Louisville, Colo., reported earnings of $232 million on revenue of $2.1 billion in 1997. Information on StorageTek is available on the World Wide Web at storagetek.com. -------------------------------------------------------------------------------- Contact: Storage Technology Corp., Louisville David Reid, 303/673-4815 --------------------------------------------------------------------------------