S3 Obtains Early Termination of HSR Waiting Period for Proposed Merger with Diamond Multimedia: Special Shareholder Meetings Scheduled for September 20, 1999.SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--Aug. 25, 1999-- S3 Incorporated (Nasdaq:SIII) and Diamond Multimedia Systems, Inc. (Nasdaq:DIMD DIMD Dorland's Illustrated Medical Dictionary ) announced today that they received notices of early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act. As a result, special meetings of the shareholders of S3 and Diamond Multimedia to consider and vote upon the merger are scheduled to be held on September 20, 1999. The merger remains subject to approval by the shareholders of both S3 and Diamond Multimedia, as well as to other customary conditions of closing. S3 and Diamond Multimedia shareholders of record as of August 10, 1999 will be entitled to vote at their respective special meetings. If the shareholders of both companies approve the merger, it is expected that the merger will close as soon as practicable thereafter. Proxy materials Proxy Materials Documents regulated by the Securities & Exchange Commission in which a public company outlines its methods and procedures. These documents are used to inform shareholders and solicit votes for corporate decisions, such as the election of directors and other in connection with the special meetings have been mailed to shareholders of record of S3 and Diamond Multimedia. Shareholders who require additional copies of the proxy solicitation materials should contact: -0- Morrow & Co., Inc. 445 Park Avenue, 5th Floor New York, NY 10022 212/754-8000 -0- About S3 Incorporated One of the largest suppliers of graphics and video accelerators A hardware component on a display adapter that speeds up full-motion video. The primary video accelerator functions are color space conversion, which converts YUV to RGB, hardware scaling, which is used to enlarge the image to full screen and double buffering which moves the frames into in the world, S3 Incorporated has established itself as a market leader in technology excellence, core business strengths, strategic partnerships and worldwide reach. Building on these strengths, S3 is committed to delivering targeted products for the Personal Computer, Computing Integration and Consumer Appliance Markets. About Diamond Multimedia Diamond Multimedia is a leader in PC multimedia and Internet connectivity, providing advanced products that enable desktop computer users to create, access and experience compelling new media content from their PC's and through the Internet. Products include the Rio series of Internet audio See RealAudio. appliances, the Stealth and Viper(R) series of video accelerators, the Monster series of 3D gaming accelerators, the Fire series of professional graphics accelerators A display adapter that performs a specialized set of graphics functions to render an image on screen. Today, all display adapters provide basic rendering functions in hardware, but many have graphics processing units (GPUs) that are sophisticated computers. , the Supra A relational DBMS from Cincom Systems, Inc., Cincinnati, OH (www.cincom.com) that runs on IBM mainframes and VAXs. It includes a query language and a program that automates the database design process. (R) series of modems, and the HomeFree line of home networking products. Diamond's common stock is traded on the NASDAQ under the symbol DIMD, and its web site address is www.diamondmm.com. The company's Internet music portal site Noun 1. portal site - a site that the owner positions as an entrance to other sites on the internet; "a portal typically has search engines and free email and chat rooms etc. is at www.RioPort.com and its e-commerce sites at www.estore.diamondmm.com and eAuction.diamondmm.com. Except for historical information contained herein, the matters set forth in this press release, such as statements as to the expected timing of the merger, are 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 are subject to risk and uncertainties, including the satisfaction of certain conditions to the merger, including the receipt of shareholder approval of both S3 and Diamond Multimedia shareholders, and other risks detailed from time to time in S3 and Diamond's SEC reports and in the Joint Proxy Statement/Prospectus dated August 16, 1999 of S3 and Diamond Multimedia. Note to Editors: S3 is a registered trademark of S3 Incorporated. The S3 corporate logo and Savage4 are trademarks of S3 Incorporated. Other marks referenced herein are the property of their respective owners. |
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