ClareREMtech Opens New State-of-the-Art Communications Technology Center.

Business Editors/High Tech Writers

ARLINGTON HEIGHTS, Ill.--(BUSINESS WIRE)--April 24, 2000

ClareREMtech, the recently formed independent subsidiary of Sumida Electric Company, announces the opening of a new state-of-the-art communications technology center in San Diego, Calif.

According to Harsh Koppula, President and CEO, ClareREMtech will use the center as a marketing, research and development facility to increase the pace of new product innovations. "The communications technology center will enable us to proactively respond to technology trends in the areas of telecommunications, data communications, computers and a variety of other related applications," Koppula said. "We feel it is unparalleled in the industry -- relative to the technology in place -- to expedite the development of electronic components for the communications industry and other fast-paced markets."

Heading up the research and development efforts for the ClareREMtech technology center is Stephen Sedio as the Director of Technology. "The function of the technology center is to work with the U.S.-based customer design centers and to provide designs, and design support, to the other design centers in ClareREMtech. Our goal is to rapidly integrate customer needs, industry standards, manufacturing and vendor capabilities into technologically advanced, high-value, high-quality products."

Sedio joins the ClareREMtech management team with more than thirty years of magnetics industry experience. Prior to ClareREMtech, Sedio's experience crossed multiple disciplines with the previous twelve years associated with companies such as Valor, Fil-Mag and Pulse.

"The ClareREMtech advantage is the enthusiasm, common focus and commitment to exceeding customer needs which permeates the entire organization," Sedio said. "Engineers interface with engineers and with the customer to ensure quality and product performance expectations are designed into the integrity of the product."

Joining Sedio in San Diego and relocating from Boston, Mass., is Joseph Soriano, ClareREMtech's Vice President-Marketing. Soriano is responsible for strategic business planning, product marketing and corporate communications for ClareREMtech. "By partnering marketing, with research and development in San Diego, ClareREMtech assures attention to product value, effective launch and focus on intellectual property programs," Soriano said.

Soriano brings over twenty years of management experience to the ClareREMtech team, with strategic and line marketing background in the communications and computing industries held with companies such as CP Clare and National Semiconductor. Soriano earned his bachelor's degree in Industrial and Systems Engineering at the University of Cincinnati and his MBA at Carnegie Mellon University.

ClareREMtech manufactures and sells advanced magnetic, reed relay and surge arrester products as well as provides custom and contract-manufacturing services for a variety of high-technology companies. Sumida Electric Co., of Japan, created ClareREMtech following the acquisition of the electromagnetic business of CP Clare Corporation.

ClareREMtech Corporation, headquartered in Arlington Heights, Ill., is a $65 million technology company, serving customers in the telecommunications, industrial control, lighting and power markets. ClareREMtech employs approximately 1,200 people in its two facilities in Guadalajara, Mexico, a purchasing office in Taiwan and a research and development center in San Diego, Calif.

Except for historical information contained herein, the matters set forth in this news release are forward-looking statements as defined under the federal securities laws. Actual results could differ materially from the information set forth herein and there is no assurance that any anticipated future results will be achieved.