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Thursday July 9, 10:21 am Eastern Time
Company Press Release
Coherent Communications Systems Corp. Agrees to License Hung Chang Co. Ltd. in Korea
ASHBURN, Va.--(BUSINESS WIRE)--July 9, 1998--Coherent Communications Systems Corporation (NASDAQ:CCSC - news) today announced the signing of a Memorandum of Understanding with Hung Chang Company, Ltd. of Seoul, Korea.
Hung Chang Company, Ltd., an ISO 9001 manufacturer of telecommunications equipment with headquarters in Seoul and manufacturing facilities in Inchon, will provide immediate product assembly, installation, and customer support services for Coherent's telecommunications equipment sold in Korea. In addition, the Companies have agreed to pursue the licensing of Coherent's echo cancellation technology to Hung Chang, so that the local manufacture of echo cancellers can begin in 1999.
Hung Chang currently produces telecom products of its own design, as well as those licensed from two major US telecom manufacturers. Their products include Wireless Repeaters and Linear Power Amplifiers for CDMA, satellite receivers, and test equipment. Founded in 1972 by its Chairman, C.S. Sohn, Hung Chang is widely respected throughout all of Korea for its quality of products and services.
Coherent's family of wireless echo cancellation products give cellular operators a quantum leap forward in cellular call quality and the key to competitive edge. In mid-June, the Company began offering for sale the EC-Duo(tm) 8000, the newest echo canceller specifically for wireless networks. In addition to Coherent's standard ultra-fast convergence hybrid echo cancellation and acoustic echo cancellation, the EC-Duo 8000 will support optional software driven features, such as level control, far end echo cancellation and the latest feature - Sculptured Sound(R) noise reduction. With the addition of noise reduction to its software features portfolio, Coherent has moved the voice quality of cellular telephones substantially towards that provided by the wired handset. This is a powerful new tool for cellular operators looking to reduce customer churn.
Coherent Communications Systems Corporation is a worldwide leader in state of the art voice enhancement technology, spanning echo cancellation platforms and associated network software.
The Company's products are used globally by major wireless and wireline telecommunications companies and network operators, with the extensive list including AT&T Wireless, BT, Cable & Wireless, Cellular One, Cisco Systems, Deutsche Telekom, France Telecom [NYSE:FTE - news], KDD, Mercury, Nokia, NORTEL, Telia, and Telmex. Coherent is a fully accredited ISO 9001 company, dedicated to maintaining the highest quality standards.
Also available via coherent.com
Except for the historical information contained herein, this news release contains forward-looking statements regarding the marketability of new products and the gaining of new customers. The risks and uncertainties associated with negotiations still in progress, Korean market acceptance of the Company's products, competitive reaction in Korea and the Company's ability to train Hung Chang personnel to manufacture the Company's products to satisfy quality standards, as well as other risks detailed in the Company's SEC reports, could cause actual results to differ from those in the forward looking statements.
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Contact:
Coherent
Melba Chan, CFO, 703/724-7364
Shirley Owens, Investor Relations, 703/724-7318
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