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Technology Stocks : Microdyne (MCDY) -- Ignore unavailable to you. Want to Upgrade?

To: BJ who wrote (366)	7/5/1998 6:56:00 PM
From: John T. Hardee	Respond to of 414

Microdyne and IN-SNEC Sign Memorandum of Understanding for Joint Marketing, Development and Manufacturing Alliance Expected to Boost Microdyne's Communication Technology Revenues OCALA, Fla.--(BUSINESS WIRE)--July 1, 1998-- Microdyne Corporation (NASDAQ/NM:MCDY - news) announced today that its Microdyne Communication Technologies Inc. (MCTI) subsidiary has signed a Memorandum of Understanding (MOU) with IN-SNEC, a division of groupe Intertechnique. Paris-based groupe Intertechnique is a leading supplier of telemetry, telecommunications, surveillance, measurements, microwave equipment and aeronautical systems. The alliance is designed to capitalize on MCTI's marketing infrastructure and diverse customer base and IN-SNEC's satellite telemetry products. This is expected to give both firms a greater ability to penetrate the world market for satellite command, ranging and telemetry systems, including Satellite Ground Link System (SGLS) technology. According to Mike Jalbert, president and chief executive officer of Microdyne, ''This sets the stage for both companies to jointly capture a significant portion of the satellite telemetry, telecommand and control (TT&C) ground station business worldwide, and it sets the tone for even greater cooperation between our two companies in the future.'' The MOU includes worldwide product distribution, product development, market development and sales efforts to support a growing satellite communication industry. Phase One of the project includes the immediate distribution of CORTEXNT, IN-SNEC's TT&C system. CORTEXNT is the third generation baseband system integrating command, ranging and telemetry. It supports all types of satellites, missions and international satellite standards. Its applications include station keeping, factory and pre-launch tests, Low Earth Orbit, Medium Earth Orbit, Geo-Synchronous, three-axis and spin-stabilized satellites. PC-based CORTEXNT uses a Microsoft WindowsNT operating system. ''CORTEXNT represents one of the most advanced and integrated satellite system products in the commercial TT&C market today,'' notes MCTI President Bob Andrews. ''Microdyne's manufacturing, sales and customer service should propel both IN-SNEC and Microdyne to the forefront in this segment of the satellite business.'' Raymond Souberbielle, vice president of IN-SNEC and groupe Intertechnique, states ''The strategic relationship developed between IN-SNEC and MCTI will provide TT&C customers with the most flexible and performance-oriented products available, supported by the best known telemetry companies in the industry - IN-SNEC and MCTI. We look forward to building upon this relationship to the future benefit of our customers.'' Headquartered in Alexandria, Virginia, Microdyne Corporation, through its MCTI subsidiary, is a leading global developer, manufacturer, service and systems provider of telemetry and remote monitoring equipment for various governmental, industrial and commercial applications. Through its Microdyne Outsourcing Inc. subsidiary, the company is a full-line provider of value added, outsourced technical support and repair services for electronics products companies. The information in this release contains forward-looking statements that involve risks and uncertainties. Important factors that could cause actual results to differ materially include: rapid changes in products and technology that may displace products sold by Microdyne; the competitive industries within which Microdyne operates; the company's success in identifying, acquiring and incorporating commercially-successful technology, products or businesses, and in identifying and taking advantage of growth opportunities; the ability to effectively coordinate marketing opportunities between MCTI and IN-SNEC; the effect on cash flow and liquidity of differences between the expected and the actual timing of collection of accounts receivable; and fluctuation in the company's quarterly results of operations and the timing of orders from customers. Microdyne's shares are traded in the NASDAQ National Marketing System under the stock symbol MCDY. For additional information on the company, visit Microdyne's Web Site at: www.microdyne.com. -------------------------------------------------------------------------------- Contact: Strategic Communications Group For media: Marc Hausman, 301/408-4500

To: BJ who wrote (366)	7/13/1998 12:04:00 PM
From: John T. Hardee	Read Replies (1) \| Respond to of 414

Microdyne Announces New Outsourcing Subsidiary President President's Focus to Accelerate Internal Growth And Target Complementary Acquisitions ALEXANDRIA, Va., July 13 /PRNewswire/ -- Microdyne Corporation (Nasdaq: MCDY - news) today announced that John M. Oakes has been appointed president of its wholly owned subsidiary, Microdyne Outsourcing, Inc. (MOI). Oakes formerly was president and chief executive officer of Teleserv Corporation, a private provider of outsourced customer service to major U.S. corporations. Oakes replaces Christopher Maginniss, who will assume a short-term consulting role for Microdyne Corporation. According to Michael Jalbert, Microdyne's president and chief executive officer, ''The notable results of our turnaround effort this past year have included the strong growth of Microdyne and the formation of a new subsidiary to expand our outsourcing business. The addition of a seasoned veteran like John Oakes gives us the ability to grow what has essentially been a large, successful project for one customer into a sustainable business in which we can become a major player.'' He notes, ''We believe that to build shareholder value, we need to nurture both our outsourcing and our communications businesses, and John Oakes' reputation and skills will be an important asset as we grow Microdyne Outsourcing, Inc.'' Concludes Jalbert: ''Our plan going forward is to reduce MOI's reliance on one customer by aggressively stepping up our marketing efforts to a number of potential clients and by selective acquisitions that will expand both our customer base and the range of services offered. I'm confident that John Oakes has the talent and background to build our leadership position in the outsourcing market.'' John Oakes has 25 years of experience and has worked in both the financial services and outsourcing businesses. Prior to joining Teleserve in 1991, Oakes was a director of The Bankhouse Exchange, which provided management and financial support to emerging technology companies. He holds a B.S. degree from Georgetown University.