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Palo
Alto, CA., July 1, 2004
Digital Video Systems (Nasdaq: DVID - News) announced that its subsidiary
in South Korea has shipped automotive DVD players to Visteon Corporation
(NYSE: VC - News), under the purchase contract announced in January.
Visteon is a leading automotive supplier with annual revenues in
excess of $17 billion.
Visteon is purchasing a versatile portable DVD player that DVS has
designed to fit into Visteon's docking station for use in vehicles.
The Visteon system is marketed nationally in the United States under
the trade name of "Dockable Family Entertainment System(TM)."
The player blends into a vehicle's interior and can move easily
from in-vehicle use to laptop or in- home use. The DVS designed
automotive grade portable DVD player weighs only 2.5 lbs, gives
consumers a large 10-inch viewing screen, remote control, and infrared
headphones. Visteon's docking unit and the compatible, portable
DVD player are designed as a modular unit. The player simply locks
into the nearly flush mounted docking unit. Front seat occupants
have the opportunity to listen to the radio or CD of their choice,
while rear seat passengers enjoy video and other entertainment.
When docked, the player uses the vehicle's power supply and audio
system to operate and charge its batteries. The unit can be removed
and will play for approximately three hours on its battery power.
Because the system is modular consumers can install docking units
in several vehicles so that one player can be easily transferred
from one vehicle to another.
The system package includes accessories like infrared headphones
and a remote control. Optional equipment includes a carrying case,
battery charger/AC adapter and even a bass booster for enhanced
sound. The portability of Visteon's aftermarket system adds a measure
of security and accessibility at home or on the road.
Visteon's Dockable Family Entertainment System is a low profile,
clamshell, laptop-type configuration that plays DVDs, CDs, and CDs
containing MP3 and WMA (Windows Media Audio) files. Auxiliary jacks
on the player accept input from other devices, such as game units
or camcorders.
The Visteon Dockable Family Entertainment System is currently available
through car dealers and selected independent automotive accessory
distributors.
DVS Chairman and CEO Thomas A. Spanier commented, "We are excited
that we have reached the purchase order stage and made initial deliveries
on this proprietary product. We won this contract in head-to-head
competition against top Japanese and Korean name brands, with our
rapid engineering turnaround, high quality and competitive pricing.
This product incorporates our proprietary technologies in vibration
and shock resistance and temperature range tolerance, as well as
the ISO/TS 16949:2002 certification that our quality management
system has earned.
The new Dockable Family Entertainment System(TM) is the 'latest
and greatest' of several automotive products which DVS is now shipping.
Anybody planning a long car vacation with their kids this summer
ought to think twice about pulling out of the driveway without a
DVS designed Visteon product in the family SUV or van."
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About Visteon
Visteon Corporation is a leading full-service supplier that delivers
consumer-driven technology solutions to automotive manufacturers
worldwide and through multiple channels within the global automotive
aftermarket. Visteon has approximately 72,000 employees and a global
delivery system of more than 200 technical, manufacturing, sales
and service facilities located in 25 countries. For more information
about Visteon, visit the company's web site at
www.visteon.com.
About DVS
Established in 1992, DVS is a publicly held company specializing
in the development and application of digital video technologies
enabling the convergence of data, digital audio, digital video and
high-end graphics. DVS is headquartered in Palo Alto, California,
with subsidiaries and manufacturing facilities in South Korea, China
and India.
Safe Harbor
Statement under the Private Securities Litigation Reform Act of
1995
Any statements made in this release that are not historical facts
contain forward-looking information that involves risks and uncertainties.
These forward-looking statements include, but are not limited to,
statements regarding DVS's products and their features, development
efforts and strategic relationships with other companies. Important
factors that may cause actual results to differ include, but are
not limited to, the timely availability of components, sufficiency
of working capital, the impact of competitive products and services,
the company's ability to manage growth and acquisitions of technology
or businesses, risks attendant to strategic agreements involving
other companies, the effect of economic and business conditions,
and other risks detailed from time to time in the company's filings
with the Securities and Exchange Commission. Digital Video Systems,
Inc. assumes no obligation to update these forward-looking statements,
and does not intend to do so.
For additional information please contact:
Digital Video Systems,
Inc.
430 Cambridge Ave., Suite 110,
Palo Alto, CA 94306
Tel: 650.322.8108
Fax:650.322.8109
DVS Contact:
Larissa Licea
Office: 650.322.8108 X 106
Cell: 408-712-4165
E-Mail:
ir@dvsystems.com
Investor Relations Contact:
Sean Collins, Partner
CCG Investor Relations
15300 Ventura Blvd, Suite 303
Sherman Oaks, CA 91403
Office: 818. 789.0100 X 202
E-Mail:
sean.collins@ccgir.com |
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