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Technology Stocks : ESST-the new beginning. -- Ignore unavailable to you. Want to Upgrade?

To: Steve Reinhardt who wrote (2217)	1/8/1999 9:20:00 AM
From: Ram Seetharaman	Read Replies (1) \| Respond to of 3493

Here is some good news from ESST. Friday January 8, 8:01 am Eastern Time Company Press Release SOURCE: ESS Technology, Inc. ESS Technology, Inc. Announces MP3 Solution for the Booming Internet Music Market LAS VEGAS, Jan. 8 /PRNewswire/ -- At the Consumer Electronic Show today ESS Technology Inc. (Nasdaq: ESST - news) launched the ES4280 chipset for it's Internet Set-Top-Box solution. This new solution allows consumers to download and playback MP3 format music from the Internet, in addition to other Internet functions, such as web browsing, E-mail and E-Commerce applications. The ES4280 is also designed to playback MP3 format music stored on CDs, which are becoming very popular in Asia. ''The MP3 compression format is becoming the most popular music format used in Internet applications and has become the de facto standard in the digital distribution of music. The ES4280 MP3 solution addresses this application and is part of our Internet and consumer appliance roadmap,'' stated Johnston Chen, Vice President of Consumer Products at ESS. ''We are excited to offer this solution to enhance the enjoyment of Internet digital music and audio content.'' The ES4280-MP3 chip is the latest addition to our Internet product family, which includes the ES4228, introduced in fourth quarter of 1998 for Internet Set-Top-Box solutions. ES4280 samples will be available end of this month. ESS Technology ESS Technology designs, develops and markets highly integrated semiconductor, system, and software solutions for the personal computer, consumer, and Internet markets worldwide. ESS is a market leader in PC audio solutions, digital video chip products, a developer of high-speed communications chipsets and Internet set-top products. Headquartered in Fremont, California, ESS has sales and technical support offices in Hong Kong, Beijing and Shenzhen, China; Tokyo, Japan; Taipei, Taiwan; Houston, Texas; and Austin, Texas. ESS stock is traded on the Nasdaq National Market under the symbol ESST. The matters discussed in this news release include certain forward looking statements that involve risks and uncertainties, including, but not limited to, the timely availability and acceptance of the Company's new products, the impact of competitive products and pricing, the dependence on continued growth in demand for PC and consumer multimedia products, the volatility of the Company's stock price, dependence on key personnel and control by existing shareholders as well as the other risks detailed from time to time in the SEC reports of ESS, including the reports on Form 10-K and Form 10Q. Actual results could differ materially from those projected in the forward-looking statements For further information regarding ESS Technology and its products and businesses, write ESS Technology, Inc., 48401 Fremont Boulevard, Fremont, California 94538, call 510-492-1088, fax 510-492-1098 or visit the company's website at esstech.com. SOURCE: ESS Technology, Inc. --------------------------------------------------------------------------------