CITY OF INDUSTRY, Calif, March 1, 2004 (PRIMEZONE) -- Global ePoint, Inc. (Company) (Nasdaq:GEPT) announced that it has signed a binding letter of intent (LOI) with ComCam International, Inc. (ComCam) (OTCBB:CMCA), that will provide investment, exclusive manufacturing and marketing of ComCam's camera-based intelligent video technology platforms and associated software. The strategic arrangement allows Global to accelerate its offering of multiple products and platforms for the digital video surveillance market, including the wireless and CCTV access control markets.
Global Chief Executive Toresa Lou commented: "We are pleased to enter into this strategic arrangement with ComCam. We look forward to the opportunity to utilize our manufacturing and marketing resources to support ComCam's unique technology and applications. Global ePoint and ComCam intend on working together to benefit from the overall growth of the market for digital video and recorder (DVR) applications."
Ms. Lou added, "Pursuant to our business and growth strategy for our digital technology division, we have moved forward with a number of steps that have been designed to accelerate the division's growth while providing greater cost efficiencies. Our strategic arrangement with ComCam allows us the potential to expand our contract manufacturing revenues and, at the same time, increase sales of digital video products. Additionally, Global plans to develop a new integrated circuit design for cost reduction and future products."
Don Gilbreath, CEO of ComCam, commented, "We welcome the manufacturing continuity that our new partnership with Global ePoint offers. It will allow us to provide in volume our ComCam-10 Series of networked camera units and micro-DVR products, improve delivery time to our current worldwide partners, and launch innovative product designs that have moved beyond the proof-of-concept phase."
About ComCam
ComCam is a pioneering developer and new market enabler of advanced Internet Protocol (IP) cameras, video micro servers, associated software, and unique end-to-end network control solutions. ComCam products are ideal for extreme remote use in inhospitable environments. They have been tested in commercial aircraft for live air-to-ground video as well as in the US Navy's underwater robotics program for telemetry control and recording. ComCam specializes in wireless IP, mobile, and wearable devices. These products are deployed in situations ranging from simple access control applications to advanced measurement solutions including weather stations, remote test equipment, and robotics. The Company sells worldwide to government and commercial markets.
About Global ePoint
Global ePoint is a public company that has been positioned, as a result of a merger of companies in August 2003, to take advantage of growth opportunities in the technology industry. One division of Global contract-manufactures customized computing systems for industrial, business, and consumer products and another division of Global designs and markets digital video surveillance systems for law enforcement, military, government (i.e. homeland security), and commercial and consumer markets. Global's growth strategy includes developing new compression technologies and next-generation digital video systems and servers for a wide range of new markets and applications. For more information go to www.globalepoint.com.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the company's current expectations, estimates and projections, management's beliefs and numerous assumptions, all of which are subject to change. These forward-looking statements are not guarantees of future results and are subject to numerous risks and uncertainties. Our actual results could differ materially and adversely from those expressed in any forward-looking statement. For example, we may not be able to close any acquisition and we may not be able to raise additional financing in the future. The forward-looking statements in this release and presentation speak only as of the date of this release. We undertake no obligation to revise or update publicly any forward-looking statement for any reason. These and other risk factors are detailed in our periodic filings with the Securities and Exchange Commission.