Cray Inc. Receives $62 Million in Orders for Cray X1 Systems from U.S. Government.Business Editors/High-Tech Writers SEATTLE--(BUSINESS WIRE)--Feb. 12, 2003 Global supercomputer leader Cray Inc. (Nasdaq/NM:CRAY) today reported that it has received orders valued at approximately $62 million for Cray X1(TM) equipment and related services from the U.S. Government. Shipments are scheduled to commence later this month and continue through October 2003. No other contract details were disclosed. "The U.S. Government has been a significant supporter of Cray and our product roadmap," said James Rottsolk, 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. and Chairman of Cray Inc. "These significant orders demonstrate its continuing confidence in Cray and in the new Cray X1 system." About Cray Inc. Cray's mission is to be the premier provider of supercomputing solutions for its customers' most challenging scientific and engineering problems. Go to www.cray.com for more information about the company. 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 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. . There are certain factors that could cause Cray's execution plans to differ materially from those anticipated by the statements above. Among these factors are the technical challenges of producing the Cray X1 system on a sustainable basis, the ability of Cray supercomputer systems Three firms have held, simultaneously, the name Supercomputer Systems or Supercomputing Systems. The first was founded by Steve Chen, architect of the Cray X-MP and Cray Y-MP. The second was based in San Diego, California, USA. to pass individual customer acceptance tests, timely availability of commercially acceptable components from third-party suppliers, risks inherent in government procurements Government procurement, also called public tendering, is the procurement of goods and services on behalf of a public authority, such as a government agency. With 10 to 15% of GDP in developed countries, and up to 20% in developing countries, government procurement accounts and general economic and market conditions. For a discussion of these and other risks see "Risk Factors" in Cray's Rule 424(a) preliminary prospectus Preliminary Prospectus A first draft registration statement filed by a firm prior to proceeding with an initial public offering of securities. The document, filed with the Securities & Exchange Commission, is intended to provide pertinent information to prospective shareholders filed with the SEC on January 16, 2003. Cray is a registered trademark, and Cray X1 is a trademark, of Cray Inc. |
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