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Palo
Alto, CA., August 12,
2004
Digital
Video Systems (Nasdaq: DVID - News) announced today that shipments
under its contract with Visteon South America have begun. These
shipments are in addition to previously announced shipments under
the Company’s contract with Visteon USA. Visteon is a leading
automotive supplier with annual revenues in excess of $17 billion.
The products being shipped to Visteon South America are from the
VXM Series. These versatile, portable products can be installed
in a vehicle or used as a freestanding unit in the home. They feature
a slim silhouette, a slot-in loading mechanism, are compatible with
a wide range of DVD formats, support multiple picture formats such
as widescreen and letterbox and offer three video outputs. All the
Company’s automotive products incorporate its proprietary
anti-shock and memory buffer technology for smooth, satisfying performance
on the road.
Click to view these products.
DVS
Chairman and CEO Thomas A. Spanier commented, "The shipments
of this proprietary product underscores the importance of our business
with Visteon, which also includes the previously announced contract
for specially designed DVD players for the Dockable Family Entertainment
System(TM). The VXM-2000 product line, built under ISO/TS 16949:2002
quality assurance certification, incorporates our proprietary technologies
that shield player operation from vibration, shock and temperature
extremes. This contract also validates our shift of strategic focus
into increasingly popular automotive DVD products and rewriteable/recordable
DVD players.
About Visteon Corporation
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 75,000 employees and a global
delivery system of more than 180 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. |
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About Digital Video Systems,
Inc.
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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