Clean Systems Technology Group Completes New Product Development; Company Ready to Push into New High-Growth Area of Fiber Optics.Business Editors/Science Writers/High-Tech Writers KIRYAT GAT, Israel & NEW YORK--(BUSINESS WIRE)--May 5, 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 for the high-tech and biopharmaceutical industries, has now successfully completed the critical development stage of a Modified Chemical Vapor Deposition (MCVD MCVD Modified Chemical Vapor Deposition MCVD Mixed Collagen Vascular Disease ) process tool. This tool forms an integral part of the process to make 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 used in the rapidly expanding global communications networks that carry voice and data traffic at very high speed. CSTI is now ready to begin the manufacturing stage of this evolutionary MCVD process tool. In addition, the Company expects to soon complete the design and development of an Outside Vapor Deposition (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) ) process tool and Draw Tower that also form part of the production process of fiber optics. CSTI has applied for four patents covering the unique features of these developments. These tools offer many advantages over current products on the market and are set to become the new benchmark for operating efficiency and cost effectiveness in the multi-billion dollar market for fiber optics fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. process tools. This development work is being done in the Company's state-of-the-art facilities in Milan, Italy, under the leadership of 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. . Mr. Pisati brings very strong experience and expertise from his work at Pirelli, a leading multinational company with over 20 years experience in the development and production of fiber optics. His work in Pirelli included Ultra-High Purity distribution systems in the Cables and Systems facilities in the UK and a senior position in Pirelli's world-leading Fiber Optics R&D centre in Milan, Italy, specializing in process tools for fiber optics production. These new process tools will enable CSTI to offer a total solution to the world's leading producers of fiber optics. As already announced on April 10, 2003, this opens up new and additional revenue streams with the potential to generate revenues of $150 million by the year 2006. CSTI has already submitted bids for two new contracts totaling $35 million for projects to be implemented in 2004. "Our new leading edge process tools together with our expertise in ultra-high purity systems will make CSTI the 'industry standard' in this very large market for equipment used in automated fiber optic assembly." said Jacob Lustgarten, President of CSTI. "Our goal is to offer our customers a total solution, built on our reputation for providing the highest levels of safety, quality, and performance". 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 New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Israel, and Italy serving clients around the world, including in Europe, Israel, India, and the USA. The company currently has 80 employees. 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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