Bridge Technology, Inc. Announces New Subsidiary; New Operation to Exploit Growing Next Generation DVD Market in Asia.Business Editors and High-Tech Writers GARDEN GROVE Garden Grove, city (1990 pop. 143,050), Orange co., S Calif., a suburb of Long Beach and Los Angeles, on the Santa Ana River; founded 1877, inc. 1956. Many of its residents work in nearby aerospace and defense installations, and there is light manufacturing. , Calif.--(BUSINESS WIRE)--Dec. 7, 2000 Bridge Technology, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BRDG BRDG Bridge ), a data storage and communication components company, announced today the formation of a Japanese subsidiary, Optics Japan Corporation (OJC OJC Operation Just Cause OJC Ontario Jockey Club (Canadian horse racing organization; now known as Woodbine Entertainment) OJC Orange Jam Conspiracy (band) OJC Ocala Jeep Club of Florida ). The new subsidiary will be headed by former Bridge Technology Chairman Tesuji Aoyagi. OJC will develop and manufacture DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. optical pickup units (OPU's) and license the manufacture to third parties in Asia. Bridge Technology, Inc. will market the products through its own channel network in Asia. Certain Officers of Bridge Technology, Inc. provided the necessary funds to Mr. Aoyagi to fund OJC by purchasing privately from him 400,000 shares of Bridge Technology, Inc. common stock. This additional funding of $600,000 increased Mr. Aoyagi's percentage interest in OJC to 82% with BRDG retaining 18% of the operation. Bridge will place one Director to the OJC Board. Bridge Technology, Inc. CFO See Chief Financial Officer. John T. Gauthier stated "This 'off balance sheet' financing improves both BRDG's financial and business prospects for the China marketing of DVD's optical pickup devices. The company's current business model envisions continued growth with a stronger emphasis on higher bottom line returns as we expand our China presence." About Bridge Technology Bridge Technology, Inc. manufactures, markets, and distributes digital recording, storage and communication components. The company, with subsidiaries in the United States, Japan and Hong Kong, is also a design innovator for the data, voice, multimedia, Internet and wireless communication industries. More information on Bridge Technology, Inc. may be obtained over the Internet at www.bridgeus.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 statements contained in this release, which are not historical facts, may be deemed to contain forward-looking statements including, but not limited to, deployment of new services, growth of the customer base, and growth of the service area, among other items. Actual results may differ materially from those anticipated in any forward-looking statement with regard to magnitude, timing, or other factors. Deviation may result from risk and uncertainties, including, without limitation, the Company's dependence on third parties, market conditions for the sale of services, technical factors affecting networks, availability of capital, and other risks and uncertainties. The Company disclaims any obligation to update information contained in any forward-looking statement. |
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