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Wi-LAN Reduces Staff to Improve Cash Flow; Streamlined Staff Geared to Maintain Sales and Product Momentum.


Business Editors, Technology Writers

CALGARY, Canada--(BUSINESS WIRE)--Sept. 14, 2001

Wi-LAN Inc. (TSE See Tokyo Stock Exchange.

TSE

1. See Tokyo Stock Exchange (TSE).

2. See Toronto Stock Exchange (TSE).
:WIN.) Wi-LAN Inc. (TSE:WIN), a global innovator of high-speed wireless data and Internet communications, today announced management and structural changes to improve the company's cash flow used in operations by approximately $500,000 per month. These changes are being made to conserve cash and sustain Wi-LAN's sales growth projections in the fixed wireless access market.

"Our goal is to live within our means until we see a turn around in this market we are addressing," says Dr. Hatim Zaghloul, Wi-LAN's President, 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. . "We are weathering a storm and we are taking the necessary steps to guide ourselves through it."

The executive team recognized that the current headcount does not warrant having a separate President and CEO. By mutual agreement, Bill Hews has stepped down as President. Mr. Hews will carry on as a director of Wi-LAN, and Dr. Zaghloul will move forward in the position of President, Chairman, and CEO.

"Bill has contributed tremendously to Wi-LAN, and has helped establish it as a quality company," said Dr. Zaghloul. "I am looking forward to continuing to work with Bill as a director."

Wi-LAN is also reducing its staff by 55% to approximately 55 people, excluding Til-Tek, UC Wireless, and DTS (1) (Digital Theatre Sound) A digital audio encoding system used in movie and home theaters. Popularized by the movie Jurassic Park, the six-channel (5. . With this reduction in staff and planned reductions in other operating expenditures, management expects to maintain a minimum cash balance of $3 million over the next 12 months.

"I have vigorously examined the finances and operations of Wi-LAN," said Steve Bellamy, Wi-LAN's Chief Financial Officer. "We are confident that we are able continue to operate within our existing cash resources without recourse A phrase used by an endorser (a signer other than the original maker) of a negotiable instrument (for example, a check or promissory note) to mean that if payment of the instrument is refused, the endorser will not be responsible.  to external financing In the theory of capital structure, External financing is the phrase used to describe funds that firms obtain from outside of the firm. It is contrasted to internal financing which consists mainly of profits retained by the firm for investment.  sources."

Wi-LAN met its third quarter guidance of $7.0 to $9.0 million in broadband wireless See wireless broadband.  revenue, which was revised upwards on July 5, 2001 from the $6.0 to $9.0 million forecast in May. Wi-LAN is reaffirming its wireless revenue target of between $8.0 and $10 million for the three months ending October 31, 2001. Growth in 2001 and 2002.

Wi-LAN has addressed the needs of the business going forward to ensure a strong 2001 and 2002. Plans include maintaining a strong sales force, and with the added presence of our growing distribution channels and OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and  agreements, will continue to drive forward in the broadband wireless access market. Wi-LAN's Broadband Wireless Systems (BWS BWS Board of Water Supply (Honolulu, Hawaii)
BWS Beckwith-Wiedemann Syndrome
BWS Black Wall Street (Hip-Hop record label)
BWS Battered Woman Syndrome
BWS Beer, Wine and Spirits
) products are in the manufacturing stage, so fewer resources are required for Research and Development. Master Service Agreements and integrators such as General Dynamics minimize the need for in-house network design.

Wi-LAN's wireless networking products have established the company as a leader in broadband wireless access networks where data communication is often limited due to cost or lack of traditional wired systems. Wi-LAN will now focus on delivering its high-speed wireless networking products to developers of large-scale networks in numerous developed and developing countries.

About Wi-LAN

Wi-LAN is a global innovator in the field of high-speed wireless data communications, specializing in high-speed Internet access, LAN/WAN LAN/WAN Local Area Network/Wide Area Network  extension and broadband wireless access. Wi-LAN is the Chair Company of the OFDM (Orthogonal Frequency Division Multiplexing) A digital transmission technique that uses a large number of carriers spaced apart at slightly different frequencies.  Forum (www.ofdm-forum.com). Wi-LAN believes its W-OFDM patent is necessary for the implementation of devices using the IEEE (Institute of Electrical and Electronics Engineers, New York, www.ieee.org) A membership organization that includes engineers, scientists and students in electronics and allied fields.  802.11a or ETSI (European Telecommunications Standards Institute, Sophia Antipolis technical park, Nice, France, www.etsi.org) A non-profit membership organization founded in 1988, dedicated to standardizing information and communication technologies (ICT) throughout Europe.  BRAN HiperLAN/2 standards. Wi-LAN's products have been sold in more than 50 countries on six continents. Wi-LAN's common shares trade on The Toronto Stock Exchange Toronto Stock Exchange (TSE)

Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options.
 under the symbol "WIN." Detailed information on Wi-LAN can be found at www.wi-lan.com.

Forward Looking Information

Certain statements in this release, other than statements of historical fact, are forward-looking information that involves various risks and uncertainties. These can include, without limitation, statements based on current expectations involving a number of risks and uncertainties related to all aspects of the wireless data communications industry. These risks and uncertainties include, but are not restricted to, continued increased demand for the Company's products, the Company's ability to maintain its technological leadership in the field of high-speed data communications, the Company's ability to attract and maintain key employees, the enforceability of the Company's patents, and the availability of key components. These uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
COPYRIGHT 2001 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1CANA
Date:Sep 14, 2001
Words:773
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