Storage Computer Signs Major Partnership Deal in China; Leading Chinese Electronics and Computer Manufacturer Chooses Storage Computer.Business/Technology Editors NASHUA, N.H.--(BUSINESS WIRE)--July 13, 2000 Storage Computer Corporation (AMEX AMEX See: American Stock Exchange :SOS SOS, code letters of the international distress signal. The signal is expressed in International Morse code as … — — — … (three dots, three dashes, three dots). ), a leading worldwide provider of high-performance storage, today announced that it has entered into a comprehensive agreement with the Changbai Group to build a major China based computer storage company based on Storage Computer's RAID 7 products, technology, and intellectual property. Mr. Gu Yingchu, General Manager of Changbai Group stated "Changbai is a market leader in a number of important electronic products based on our world class manufacturing ability and our national distribution capabilities in China. Our decision to enter the data storage market was based on its size and extraordinary growth potential in China. Our decision to partner with Storage Computer was based on our research and analysis of many storage companies. We concluded that the Raid 7 Virtual Storage Architecture, OmniRAID storage management software, and OmniForce business continuance software are the most advanced in the industry. This partnership gives Changbai a basis for its commitment to seek the open system storage market leadership in China." Eddie Hwang, Storage Computer's Regional VP for Asia stated, "Changbai has developed an extensive network of partners and resellers across China with their other computer and peripheral products in the last ten years. I believe most of their channel partners will see Changbai Raid 7 storage as an opportunity for increased business in their existing relationship accounts, and as a competitive advantage in fighting for new customers" Chairman 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 Storage Computer, Ted Goodlander commented, "Our success in reaching this partnership was greatly helped by the new China trade legislation. I don't believe a company the size and stature of Changbai could make such large financial commitments to a smaller company like Storage Computer without the comfort that the trading future is clear and secure. Most economists agree that China will become the worlds largest economy, and it follows that China will be one of the top markets for Storage Computer " About Storage Computer Storage Computer Corporation develops and manufactures software-driven multi-host storage solutions used to drive core business applications. Storage Computer solves its customer's business problems through its StorageSuite(TM) product line and patented OmniRAID and OmniFORCE storage software. Storage Computer Corporation is a publicly held company traded on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. under the symbol SOS. The Company's worldwide headquarters are in Nashua, New Hampshire Nashua is a city in Hillsborough County, New Hampshire, USA. As of the 2000 census, Nashua had a total population of 86,605[1], making it the second largest city in the state after Manchester. As of 2005, the population is estimated to be 87,986. , with subsidiaries and distribution in over 30 countries. Company information may be found on the World Wide Web at http://www.storage.com. About Changbai Group Changbai Group is one of the large-scale electronics companies directed by the Ministry of Electronic Industry towards privatization privatization: see nationalization. privatization Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned . The Group is headquartered in Shenyang, Liaoning, in China's heavily industrialized in·dus·tri·al·ize v. in·dus·tri·al·ized, in·dus·tri·al·iz·ing, in·dus·tri·al·iz·es v.tr. 1. To develop industry in (a country or society, for example). 2. northeast. The Group, which includes 51 enterprises, 8,000 employees, and a capital base of 2 billion yuan, has been transitioning to privatization over the last 18 months and expects to do its IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. early next year. The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 contains certain safe harbors 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. regarding forward-looking statements. From time to time, information provided by the Company or statements made by its directors, officers or employees may contain `forward-looking' information, which involve risk and uncertainties. Any statements in this report that are not statements of historical fact are forward-looking statements (including, but not limited to, statements concerning the characteristics and the growth of the Company's market and customers, the Company's objectives and plans for future operations, possible acquisitions and the Company's expected liquidity and capital resources, and the possible outcome of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. . Such forward-looking statements are based on a number of assumptions and involve a number of risks and uncertainties, and accordingly, actual results could differ materially. Factors that may cause such differences include, but are not limited to: the continued and future acceptance of the Company's products and services, the rate of growth in the industries of the Company's customers; the presence of competitors with greater technical, marketing and financial resources; the Company's ability to promptly and effectively respond to technological change which meets evolving customer needs; capacity and supply constraints or difficulties; and the Company's ability to successfully integrate new operations. Storage Computer and RAID 7 are registered trademarks; and OmniRAID Server, OmniRAID SuperServer, and OmniForce are trademarks of Storage Computer Corporation. Windows NT (Windows New Technology) A 32-bit operating system from Microsoft for Intel x86 CPUs. NT is the core technology in Windows 2000 and Windows XP (see Windows). Available in separate client and server versions, it includes built-in networking and preemptive multitasking. is a registered trademark of Microsoft Corporation (company) Microsoft Corporation - The biggest supplier of operating systems and other software for IBM PC compatibles. Software products include MS-DOS, Microsoft Windows, Windows NT, Microsoft Access, LAN Manager, MS Client, SQL Server, Open Data Base Connectivity (ODBC), MS Mail, . All other trademarks and registered trademarks are the properties of their respective holders. |
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