Blonder Tongue Signs Definitive Agreement as Exclusive U.S. Distributor of Third Millennium Technologies' Low-Cost MDU Data Solution.Business/Technology Editors OLD BRIDGE, N.J.--(BUSINESS WIRE)--March 21, 2002 Blonder Tongue Laboratories, Inc. (AMEX AMEX See: American Stock Exchange :BDR BDR Border BDR Bangladesh Rifles (military forces in Bangladesh) BDR Backup Designated Router (networking) BDR Bombardier (artillery rank) BDR Backup Disaster Recovery ) a manufacturer of electronics and systems equipment for the franchised and private cable television industries, today announced that it has entered into a definitive Distribution Agreement with Third Millennium Technologies, Ltd. (`TMT TMT 1 Tarsometatarsal 2 Thermomechanical treatment 3 Treatment, see there "), providing Blonder Tongue with exclusive distribution rights in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. market for TMT's newly-developed data solution product line. This definitive agreement supercedes the Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. signed by the parties in December, 2001. TMT is a developer and manufacturer of advanced broadband data-over-coax distribution technologies. TMT's system consists of a media access switch and intelligent outlets. The technology provides a low capital cost solution for deploying high-speed data services to multiple dwelling unit cable providers. The system can be implemented using existing cable distribution wiring without expensive upgrades, can operate effectively in frequency bands normally considered too noisy and optimizes traffic to minimize the need for reverse node splitting. The system operates at cable modem speed, but at dial-up cost and is DOCSIS (Data Over Cable Service Interface Specification) A cable modem standard from the CableLabs research consortium (www.cablelabs.com), which provides equipment certification for interoperability. , DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary and T1 compatible. All equipment deployed, other than the intelligent outlets, is located outside the subscriber's dwelling unit in a secure location and can be monitored from a remote location. Traffic can also be monitored to anticipate future expansion needs. TMT will make available to Blonder Tongue three trial systems for implementation in the U.S. prior to May 1, 2002. Blonder Tongue's exclusive distribution rights will be for an initial term expiring at the end of January 2003 and will renew thereafter from quarter to quarter, subject to meeting certain periodic sales performance targets. James A. Luksch, Chairman and Chief Executive Officer said, "Since our announcement in December that we had signed the Memorandum of Understanding, TMT has already demonstrated the prototype system for us in Old Bridge. We were impressed by the demonstration and look forward to implementation of the trial systems with several of our customers." Blonder Tongue Laboratories is a designer, manufacturer, and supplier of a comprehensive line of electronics and systems equipment for the franchised and private cable television industries. Founded in 1950, Blonder Tongue offers a comprehensive product line and has grown to be one of the leaders in cable television equipment manufacturing. For more information regarding Blonder Tongue or its products, please visit the Company's Internet site at www.blondertongue.com or contact the Company directly at (732) 679-4000. TMT is an innovative young company focused on development of broadband solutions for residential networks leveraging existing coaxial infrastructure. TMT's core technology is based on self-developed ASICs and products that outperform conventional coaxial systems for price, performance and product longevity. TMT's Access and Home-Networking systems are simple, cost-effective and attractively affordable for end users. (Further information on TMT can be found on TMT's web-site at www.tmt3.com) "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The information set forth above includes "forward-looking" statements and accordingly, the cautionary statements contained in Blonder Tongue's Annual Report and Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2000 (See Item 1: Business and Item 7: Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations), and other filings with the Securities and Exchange Commission are incorporated herein by reference. The words "believe", "expect", "anticipate", "project", and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. Blonder Tongue undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Blonder Tongue's actual results may differ from the anticipated results or other expectations expressed in Blonder Tongue's "forward-looking" statements. |
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