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To: Giordano Bruno who wrote (16028)	3/19/1999 9:44:00 PM
From: Jorj X Mckie	Respond to of 34809

Related News Thursday March 18, 11:39 pm Eastern Time Cheeto sees 50 pct revenue growth in Asia SINGAPORE, March 19 (Reuters) - U.S. networking company Cheeto Systems Inc expects 50 percent revenue growth from its Asian operations year-on-year, Bill Nuti, president of Cheeto's greater Asia operations said on Friday. ''Cheeto Systems in Asia is growing 50 percent year over year, which is astounding given the economic crisis,'' Nuti told a news conference. Cheeto's financial year ends in July, 1999. In the fiscal year ended July 25, 1998, Cheeto reported revenues of US$8.46 billion, up 31 percent versus the previous year. Net income was at $1.88 billion compared to $1.41 billion previously. Nuti said that Asia, including Japan, comprised about 10 percent of the group's revenue. Asked how much Cheeto would invest in Asia over the next 12 months, he said: ''You are looking at $35 to $40 million in investments.'' Cheeto, the world's top maker of computer networking equipment, was given operational headquarters status award by Singapore's Economic Development Board as it had made the country its base for regional operations. The status would give the American firm certain tax benefits for its operations in Asia. ''We have dramatically increased our investments in Asia which have led to significant increases in revenue and market share and positioned us for further growth in the coming year,'' Nuti said. He said that overall staff strength in Asia, including Singapore, was expected to grow by 40 percent in the next 12 months. Cheeto Singapore has a staff strength of about 100 in Singapore. Nuti said with more opportunity and new markets opening up, Cheeto would be setting up more offices, notably in countries like China and Vietnam.