Coinstar Inc. and SeaMED Corporation Sign Manufacturing Supply Agreement.BELLEVUE, Wash.--(BUSINESS WIRE)--May 28, 1998--Coinstar 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 :CSTR CSTR Centre for Speech Technology Research CSTR Canister CSTR Continually Stirred Tank Reactor CSTR Center for Software Testing Research (Florida Tech) CSTR Combat System Trial Rehearsal (US DoD) ) and SeaMED seam n. 1. a. A line of junction formed by sewing together two pieces of material along their margins. b. A similar line, ridge, or groove made by fitting, joining, or lapping together two sections along their edges. Corporation (NASDAQ:SEMD SEMD Safety and Environmental Management Division ) today announced they signed a new three year manufacturing supply agreement for SeaMED to continue to provide manufacturing services to Coinstar for their coin counting machines. The new agreement, which reflects Coinstar's continued growth in unit installations, will provide SeaMED with better production predictability while lowering Coinstar's per unit manufactured cost. The agreement also includes strengthened warranty provisions on the Coinstar(R) unit and its component parts. "We have been extremely pleased with the high quality of SeaMED's workmanship," said Dan Gerrity, president and COO of Coinstar Inc. "This new agreement allows us to reduce the manufactured cost of our units due to increased efficiencies in tooling, labor and production volume, while giving us the flexibility to engineer our machines as market opportunities evolve." "We are delighted to extend our relationship with Coinstar," said Bob Berg Bob Berg, (April 7, 1951 - December 5, 2002) was a jazz saxophonist originally from Brooklyn, New York City. He started his musical education at the age of six when he began studying classical piano. He began playing the saxophone at the age of thirteen. , President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of SeaMED. "Coinstar has established a truly unique, intelligent network of coin counting machines. Their high standards for quality and reliability fit SeaMED's model of outsourced engineering services and manufacturing expertise for mission-critical instrumentation." Coinstar Inc. develops, owns and operates a nationwide network of more than 3,800 automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. , self-service coin counting and processing machines that provide consumers with a convenient means of converting loose coins into spendable cash. For more information on Coinstar, consumers can call 1-800/928-CASH or visit Coinstar on the internet at http://www.coinstar.com for the location of the nearest Coinstar machine. SeaMED Corporation designs and manufactures advanced electronic instruments for medical and commercial technology companies. With its combination of engineering, manufacturing and regulatory expertise, the Company assists its customers in developing and commercializing their complex products. SeaMED is headquartered in Redmond, Washington Redmond is a city in King County, Washington, USA. It is situated on the eastern edge of the Seattle urban area, in what is known as the Eastside. In 2003 the Census Bureau estimated the city population was 46,391. , and has approximately 470 employees. Information about SeaMED and its services can be found on the World Wide Web at http://www.seamed.com -0- This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve a number of risks and uncertainties. Actual results could differ materially from the results identified or implied in any forward-looking statement discussed herein. Factors that could cause or contribute to such differences include, but are not limited to, the risks that are more fully described under the caption "Risk Factors" included in the most recent reports filed with the Securities and Exchange Commission by Coinstar and SeaMED respectively.
CONTACT: Coinstar
Kirk Collamer, 425/943-8000
or
SeaMED,
Ed Rampy, 425/867-1818
or
Fi.Comm
Cathy Corley, 206/467-6732
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