Clean Systems Technology Group Announces Progress in New Solution Offering and Submits Bids for New Contracts Totaling $80 Million.Business Editors KIRYAT GAT, Israel & NEW YORK--(BUSINESS WIRE)--May 12, 2003 Clean Systems Technology Group Ltd ("CSTI CSTI Conseil Stratégique des Technologies de l'Information CSTI California Specialized Training Institute CSTI Civil Space Technology Initiative CSTI Client Server Technologies, Inc. ") (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :CSTM CSTM Centrale Syndicale des Travailleurs Martiniquais (French: Central Union for Martinique Workers) CSTM Certified Software Test Manager (IIQM & STQC) CSTM Customer Service Team Member .OB), a leading provider of ultra-high purity systems, today announced the company's progress in marketing its expanded total solutions aimed at the fiber optic and micro-electronic industries. To date the company has submitted bids totaling $80 million to implement these sophisticated total solutions in a number of leading multi-national companies. CSTI invested significantly during 2002 in the engineering and design of its own process tools, including MCVD MCVD Modified Chemical Vapor Deposition MCVD Mixed Collagen Vascular Disease and OVD OVD Overdrive OVD Optical Variable Device OVD Outside Vapor Deposition OVD Overdue OVD Oracle Virtual Directory OVD Ophthalmic Viscosurgical Device (viscoelastic solution used in eye surgery) systems, for the fiber optics fiber optics, transmission of digitized messages or information by light pulses along hair-thin glass fibers. Each fiber is surrounded by a cladding having a high index of refractance so that the light is internally reflected and travels the length of the fiber Industry. These tools offer many advantages over current products on the market and are expected to become the industry-leader in the multi-billion dollar market for fiber optics fabrication process tools. "Our new tools are set to become the new benchmark for operating efficiency and cost effectiveness in the market for fiber optics fabrication process tools," said Mr. Mauro Pisati, R&D Manager of Clean Systems Technology Fiber Srl, CSTI's 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. . "We are continuing to develop more advanced solutions based on our tremendous expertise in this market for the specialized equipment used in automated fiber optic assembly." "Following our investments last year, we are pleased that we can now offer our customers more sophisticated total solutions with the highest levels of safety, quality, and performance for ultra-high pure gas and chemicals delivery systems," said Jacob Lustgarten, President of CSTI. "We look forward to new and significant revenue streams from these solutions in 2003 and beyond." About Clean Systems Technology Group Ltd. Founded in 1995, CSTI is a leading provider of specialized total solutions for delivery systems for ultra-high pure gas and chemicals. CSTI's total solution includes the engineering, design, manufacture, installation and servicing of these systems. These gas and chemical delivery systems perform a mission-critical role in several multi-billion dollar industries, including micro-electronics, semiconductors, fiber optics, pharmaceuticals, and biotechnology. CSTI has offices in Israel and Italy serving clients around the world, including in Europe, Israel, India, and the USA. The company currently has around 80 employees. For more information, please contact Martin Charles, at 011-972-66-386703 or investor.relations@cstigroup.com or visit us on the Web at www.cstigroup.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 This press release contains forward-looking statements that involve risks and uncertainties. Actual results could differ materially from those discussed in such forward-looking statements based on a variety of factors. Other risks are reflected in the company's filings with the Securities and Exchange Commission. |
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