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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: Frank Edwards who wrote (5357)	6/26/1998 11:52:00 AM
From: Gilbert Drapeau	Read Replies (1) \| Respond to of 18016

NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: NEWBRIDGE NETWORKS CORPORATION TSE SYMBOL: NNC NYSE SYMBOL: NN JUNE 26, 1998 Province of New Brunswick and Newbridge Networks Announce Major R & D Investment to Create Up to 300 New High-Tech Jobs SAINT JOHN, NEW BRUNSWICK--Joint Investment a Major Boost to New Brunswick's Information Technology Sector The Province of New Brunswick and Newbridge Networks, a world leader in communications networking based in Kanata, Ontario, today announced that they will be making a major investment in research and development in Newbridge and the Newbridge Affiliate companies based in New Brunswick over the next four years. Camille Th‚riault, Premier of New Brunswick, the Honourable Roly MacIntyre, Minister of Economic Development, Tourism and Culture, and Terence Matthews, Chairman and Chief Executive Officer, Newbridge Networks, made the announcement at a New Brunswick press conference. The joint investment is expected to create up to 300 high-quality, knowledge-based jobs in New Brunswick over a four-year period. "Today's announcement is an exciting step that will further position New Brunswick as a national leader in the Information Highway industry," said Premier Th‚riault. "We believe our joint investment with Newbridge Networks will attract other high-tech companies to locate in New Brunswick and, more importantly, encourage our brightest and most promising students to stay in the province because of the stimulating, knowledge-based jobs that will be created." "Our financial commitment to New Brunswick's growing technology sector is wonderful news for the province's economy and its people," added Minister MacIntyre. "The high-quality, long-term technology-based jobs that will result from our relationship with Newbridge Networks will significantly enhance the province's image as a centre of excellence in the Information Highway industry." The relationship between the Province of New Brunswick and Newbridge Networks will involve a shared investment of $10 million each, which will be used to launch a variety of innovative research and development initiatives. Of the $10 million portion being contributed by the province, $2 million will be in the form of a non-repayable grant. The remaining $8 million will be repayable in the form of royalties on revenues created by the various research and development projects. The first New Brunswick-based Newbridge Affiliate company to receive funding from the research and development agreement will be ImagicTV. ImagicTV produces business application software which enables service providers to deliver broadcast television to residential subscribers over high-speed Internet Protocol (IP) networks. The Company will receive $6.4 million over the next four years; $3.2 million from Newbridge and $3.2 million from the province. ImagicTV plans to use the funding to create 90 software development jobs. "We are extremely pleased that ImagicTV is receiving the support of such leading innovators in research and development," said Peter Jollymore, Chairman of the Board of ImagicTV. "Newbridge and the Province of New Brunswick are strengthening ImagicTV's ability to attract highly skilled professionals to New Brunswick's information technology sector." "In the past few years, New Brunswick has created the environment necessary to attract high-tech investment," said Terence Matthews. "Today's announcement is another major boost to the province's high-tech sector, and we are hopeful that it will encourage other global knowledge-based industries to establish a presence in New Brunswick." ImagicTV is a Newbridge Affiliate and an affiliate of Bruncor's principal subsidiary NBTel. Bruncor Inc. (TSE:BRR) holds the majority of ownership in ImagicTV. The balance of ownership is held between Celtic House International Corporation and Newbridge Networks. The company is federally incorporated under the laws of Canada with offices in Saint John, New Brunswick and Fredericton, New Brunswick, Canada. ImagicTV's web site address is www.imagicTV.com. Newbridge Networks (NYSE: NN; TSE: NNC) designs, manufactures, markets and services networking solutions to organizations in more than 100 countries. Newbridge leverages its relationship with 16 Affiliate companies and strategic alliances with Siemens and 3Com Corporation to deliver seamless, end-to-end solutions. Newbridge customers include the world's 250 largest telecommunications service providers and more than 10,000 corporations, government organizations and other institutions. Founded in 1986, the Company employs more than 6,000 people on five continents. News and information are available at www.newbridge.com. Newbridge, logo are registered trademarks of Newbridge Networks Corporation.

To: Frank Edwards who wrote (5357)	6/26/1998 12:02:00 PM
From: pat mudge	Respond to of 18016

These products are immensely complex vis a vis the few words required to paint them as done deeds. Too bad we didn't have some kind of hype award which would officially rate announcements on their veracity ...something like the Darwin awards....Announcements we could do without. Frank -- You're absolutely right. Even test results are subject to interpretation. Over the past two years I followed ADSL tests and there were times the best technologies weren't included, times only certainly conditions were tested, times critical data was provided by the company being tested ---- all throwing the findings into question. As for research numbers, if they're forward projections in a field that's terribly competitive, as ADSL and ATM, it's extremely difficult to get data. I once did a survey of every company I knew developing ADSL and every telco/carrier likely to deploy it, and I found most either wouldn't give out numbers or were vague. If I can find the file, I'll repost. Might be interesting to compare what they said with what's happened since. Then there were all those ADSL/CAP announcements out of Globespan whom I fondly called Globespam. At any rate, it's wise to be doubting Thomases and wise to get information from as many sources as possible. Later -- Pat