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August 23, 2001 09:06 VNCI Named One of New England's Fastest Growing Technology Companies Prestigious Industry Publications Recognize Leading Visual Networking Provider PORTSMOUTH, N.H., Aug. 23 /PRNewswire/ -- Video Network Communications, Inc. (Nasdaq: VNCI, VNCIW), a leader in visual networking technology, today announced that it has been named a winner in the renowned Fast 50 Awards competition, which recognizes New England's fastest- growing technology companies. The award is co-sponsored by the professional services firms of Deloitte & Touche and Hale and Dorr LLP, in association with Mass High Tech, the Jornal of New England Technology. The New England Technology Fast 50 is an annual program that ranks the region's top technology companies based on five-year revenue growth. During this period, VNCI's revenues grew from $81 thousand in 1996 to $8.8 million in 2000. Last week VNCI announced it had achieved profitability for second quarter 2001, and confirmed earlier projections of more than $20 million in revenues for the year. VNCI also received recognition from two top-ranking publications. Business New Hampshire magazine ranked the company as one of New Hampshire's top 100 public companies. Another leading industry publication, Teleconference magazine, named four members of VNCI's executive management team to its well-respected Industry "A" List. "VNCI is having a terrific year," said Stephen LaMarche, Vice President of Sales and Marketing. "Industry experts and customers alike are beginning to see the rapid productivity and efficiency gains available through the use of TV-quality video at the desktop. These awards acknowledge VNCI's position as a true technology leader in visual networking and collaboration." The complete list of winners can be found at the Mass High Tech Web site, www.masshightech.com. The awards will be presented at an invitation-only dinner celebration on September 11, 2001. About the Fast 50 To qualify for the 2001 Fast 50 program, companies must have had operating revenues of at least $50,000 in 1996 and a minimum of $1 million in operating revenues in 2000, may be public or private, and must be headquartered in the region. To be considered for an award, the company must produce technology, manufacture a technology product, be technologically intensive, use technology in problem solving, or devote a high percentage of effort to research and development of technology. All nominees of the 22 regional U.S. and Canadian Fast 50 programs are automatically entered in the Deloitte & Touche Technology Fast 500 program, which ranks North America's top 500 fastest-growing companies. For more information on Deloitte & Touche, visit the web site at www.us.deloitte.com. For more information on Hale and Dorr LLP, visit the web site at www.haledorr.com. For more information on Mass High Tech, visit the web site at www.masshightech.com. About Video Network Communications, Inc. Video Network Communications designs, develops, and markets visual networking systems that provide full-motion, high-resolution video communications for video broadcast distribution, retrieval of stored video-on-demand, and multi-point visual collaboration. Patented technology allows the VNCI system to use the same wiring as the telephone to bring TV-quality video anywhere there's a phone line. The Universal Gateway extends the reach of the VNCI Visual Network from enterprise desktops out to ISDN, IP (Internet Protocol), ATM and other wide-area-networks. The Company's common stock and warrants are listed on The Nasdaq SmallCap Market under the symbols "VNCI" and "VNCIW" respectively. VNCI can be found at www.vnci.net. Warrant information from SEC filings: Each warrant entitles the holder to purchase one share of common stock for an initial exercise price of $4.00 during the four-year period commencing one year after the date of this prospectus(6/99). We may redeem the warrants at any time after they become exercisable, at a price of $.01 per warrant on not less than 30 days' prior written notice if the last sale price of the common stock has been at least 200% of the then exercise price per warrant (initially $8.00) for the 20 consecutive trading days ending on the third day prior to the date on which the notice is given. Additional background: prnewswire.com newsalert.com 199.230.26.96 | ||||||||||||||
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