SANTA CLARA, Calif.,
"We are pleased to have closed this patent sale transaction. We believe
the magnitude of the sale reflects the true value of the technology to the
buyer," stated
About NeoMagic
NeoMagic Corporation delivers semiconductor chips and software that enable new multimedia features for handheld devices. These solutions offer low power consumption, small form-factor and high performance processing. The Company demonstrated one of the first solutions used for H.264 video decoding in a mobile digital TV phone, and is developing and delivering solutions for audio/video processing of the dominant mobile digital TV standards, including ISDB-T, T-DMB and DVB-H. For its complete system solution, NeoMagic delivers a suite of middleware and sample applications for imaging, video and audio functionality, and provides multiple operating system ports with customized drivers for the MiMagic product family. NeoMagic has a broad patent portfolio that covers NeoMagic's proprietary array processing and other technology. Information on the Company may be found at http://www.neomagic.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning
of the Securities Act of 1933 and the Securities Exchange Act of 1934,
including statements regarding the growth objectives of the Company and the
ability of the Company to achieve those objectives with the net proceeds of
the patent sale transaction with Faust Communications. These forward-looking
statements reflect current expectations. However, actual events and results
could differ materially based on a variety of factors, including but not
limited to the ability of the Company to sell and deliver low-power,
multimedia solutions to customers. Additional risks that could affect the
Company's future operating results are more fully described in the Company's
most recent annual report, its most recent quarterly report and other filings
with the
NeoMagic and the NeoMagic circle logo are registered trademarks, and MiMagic and NeoMobileTV are trademarks, of NeoMagic Corporation. All other trademarks are the property of their respective owners. NeoMagic disclaims any proprietary interest in the marks and names of others.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020802/NMGCLOGO)
SOURCE NeoMagic Corporation