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To: John Rieman who wrote (34105)	6/30/1998 9:57:00 PM
From: DiViT	Respond to of 50808

Digital Video Systems Announces Preliminary Fourth Quarter/Year End Results, Management/Business Restructuring for Increased Fiscal Responsibility and Hyundai Operations Acquisition Tuesday June 30, 8:40 pm Eastern Time Company Press Release LOS GATOS, Calif.--(BUSINESS WIRE)--June 30, 1998--Digital Video Systems Inc. (NASDAQ:DVID - news) has announced preliminary operating results for the fourth quarter and the fiscal year ended March 31, 1998. biz.yahoo.com "To provide additional working capital, the company, in June 1998, borrowed $1,000,000 from [Dr.]Sun. The loan from Sun will be repaid in full by the company selling shares of its common stock to him in July 1998 (with the price to be equal to 100% of the average closing price of the company's common stock over the next five trading days) and with Sun to receive registration rights to cover these shares. " "As part of this plan the company will discontinue sales of consumer Video CD players in China (where oversupply and intense competition have eroded margins for manufacturers) and will discontinue the New Media Division's current product line while completing development of its Catapult ad insertion product for potential sale or license to a third party."