BrainTech, Inc. Teams With UTMC on Vision System Project and BrainTech's Odysee Development System Marketing.VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--July 8, 1998-- BrainTech, Inc.(OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :BNTI BNTI Blind Nasotracheal Intubation ) BrainTech, Inc. (symbol BNTI on the OTC Bulletin Board) today signed an agreement with UTMC UTMC Urban Traffic Management and Control UTMC United Technologies Microelectronics Center UTMC Underground Terrorist Motorcycle Cult UTMC United Technologies Microelectronics Corporation UTMC Utah Microelectronic Center UTMC Unit Training Management Configuration Microelectronic Systems Inc. (UTMC), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of United Technologies Corporation, to jointly develop, manufacture and market a visual recognition accelerator board An add-in board that replaces the existing CPU with a higher performance CPU. See graphics accelerator. to be used in the multi-billion dollar vision systems industry. Machine vision systems are used for manufacturing quality inspection, security and surveillance, military target identification, and other applications. The new board, called IMPAC IMPAC International Merchant Purchase Authorization Card IMPAC Intersegmental Major Preparation Articulated Curriculum IMPAC Information for Management, Planning, Analysis, and Coordination (National Institutes of Health) (TM), will utilize BrainTech's BrainTron(TM) adaptive fuzzy chip and UTMC's UTCAM-Engine(TM) content addressable memory See CAM. content addressable memory - (CAM, or "associative memory") A kind of storage device which includes comparison logic with each bit of storage. A data value is broadcast to all words of storage and compared with the values there. (CAM) chip to achieve the higher speeds required to recognize visual patterns in machine vision systems. Under the agreement, UTMC will manufacture and assist BrainTech in the marketing of the IMPAC(TM) board. In addition, the agreement calls for UTMC to use its worldwide marketing channels to promote BrainTech's Odysee(TM) Development System, a rapid application development environment that enables BrainTech to design and build visual object recognition solutions quickly and affordably. Odysee allows BrainTech to develop a prototype pattern recognition solution in just a few days, then integrate it into a turnkey or embedded solution with all necessary front-end sensors, computers and robotics. "The UTMC UTCAM-Engine(TM) is a perfect match for IMPAC(TM). This joint effort opens up a great new market for both our companies," said Charles H. (Nick) Ide, UTMC president. "Our association with UTMC is a milestone in the four-year history of our company," said BrainTech president Owen Jones. "It positions us to take a leading role as a solutions provider to the Vision Systems industry with the means to handle rapid growth." UTMC, a business unit of Hamilton Standard, part of the United Technologies Corporation family of companies, is a supplier of semicustom and standard VLSI VLSI: see integrated circuit. (1) (Very Large Scale Integration) Between 100,000 and one million transistors on a chip. See SSI, MSI, LSI and ULSI. (2) (VLSI Technology, Inc., Tempe, AZ, www.semiconductors. circuits and custom circuit card assemblies to the aerospace and defense marketplace. UTMC has received Qualified Manufacturer List (QML QML Quest Markup Language (XML-based gaming language) QML Qualified Manufacturing Line QML Qualified Manufacturer's List QML Qualified Materials List ) certification for QML Q and QML V and ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9002 registration from Underwriters Laboratories. It has also received a letter of compliance for ISO 9001 from the Defense Supply Centre, Columbus. Further information is available by calling 1-800-645-UTMC, or writing UTMC, 4350 Centennial Blvd., Colorado Springs, CO 80907, or at UTMC's home page at http://www.utmc.com BrainTech specializes in the design, development and commercialization of advanced pattern recognition technologies and products. Founded in 1994, the company builds highly effective, adaptive pattern matching recognition systems based on its patented technologies. BrainTech shares trade on the OTC Bulletin Board under the symbol BNTI. For more information, visit http://www.bnti.com BRAINTECH, Odysee, BrainTron are registered trademarks of BRAINTECH INC. IMPAC is a jointly owned trademark of UTMC and BrainTech. UTMCAM-Engine is a registered trademark of UTMC. 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 provides a "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. " for forward-looking statements. Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by BRAINTECH INC.) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the high technology industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Braintech Inc. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financial activities, domestic and global economic conditions, changes in federal or state income tax laws, and market competition factors.
CONTACT: BrainTech, Inc.
Cynthia Morgan, 604/ 986-6121
cynthia@bnti.com
or
UTMC Microelectronic Systems Inc. (UTMC)
Teresa Farris, 719/ 594-8035
farris@utmc.utc.com
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