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To: Don Dorsey who wrote (34854)	8/2/1998 2:15:00 PM
From: John Rieman	Respond to of 50808

Oak Tech reports a $.12 loss, and their CFO resigns, company Controller takes over.............. CFO................. newsalert.com Earnings........................ newsalert.com Consumer Business Recap for Q4 1998 "As part of restructuring our businesses to minimize our exposure to PC-based markets earlier this year, I established a Consumer Group in the fourth quarter of fiscal 1998 headed by group president, Paul Vroomen," stated Black, in discussing developments in the Company's Consumer business. "The Consumer Group's charter is to target the emerging market for integrated circuits that enable the delivery of digital content to the home," Black added. The Company's existing Imaging Business Unit, comprised of VideoCD (VCD) and DVD product development and marketing teams, was absorbed into the Consumer Group as the VCD Business Unit and the DVD Business Unit. The Consumer Group at Oak Technology today is comprised of four business units- VCD, DVD, Terrestrial Products, and Cable/Satellite - all in various stages of development and production of a diverse but synergistic portfolio of products. The Company reported today that its Consumer Group commenced production shipments in the June quarter of Oak's latest VCD controller to six OEM customers in China, including two top-tier VCD manufacturers in the region. In addition, the Consumer Group has been collaborating closely with a Japanese partner - a major manufacturer of consumer products - in the DVD market, and began shipments of its DVD decoder to this customer in the June quarter. The Terrestrial Products Business Unit was established by the Company in the fourth quarter of fiscal 1998 and is comprised of a highly experienced team of engineers. The charter for this group is to develop demodulator devices required for the reception of terrestrial broadcast digital television. "We are pleased to report that our terrestrial team has recently executed a Joint Development Agreement with one of the world's largest digital TV tuner manufacturers in Japan," said Vroomen. During the quarter, the Company announced that it had completed the acquisition of key assets of ODEUM Microsystems, a subsidiary of Hyundai Electronics America, and developer of MPEG-2 decoders and demodulators for satellite, cable and terrestrial set-top boxes (STBs). The acquisition, resulting in the establishment of the Cable/Satellite Business Unit under the Consumer Group, has enabled the Company to immediately engage with OEM customers in China, Korea and the U.K. Malata, one of China's largest consumer electronics manufacturers, recently received certification from the Government of China for its set-top box solutions featuring Oak's MPEG-2 decoder and QPSK demodulator.