Contact:
Soo Chung Patterson
408-955-7783
soo@televideo.com
TELEVIDEO INVESTS IN A EXCITING INTERNET START-UP
SAN JOSE, Calif. (BUSINESS WIRE) - March 14, 2000 - TeleVideo, Inc. (OTC BB: TELV ) today announced that the company has made an equity investment in Mulix, Inc., an Internet e-commerce company. As a result of the investment, TeleVideo currently owns a 35% percent stake in the Silicon Valley start-up and is its largest stockholder. Dr. Philip Hwang, TeleVideo's Chairman and CEO, has also become a member of the Board of Directors of Mulix.com.
Mulix.com is a new e-commerce concept that seeks to bring exciting transaction opportunities to consumers in a trusted community. Using a patent pending proprietary technology, consumers will be able to engage in transactions across product lines within and among their friends, co-workers and community members.
"E-commerce has exploded onto the Internet, and companies are finding creative and alternative methods for consumers to get what they need," stated Dr. Philip Hwang, TeleVideo Chairman and CEO. "Using their proprietary technology, Mulix.com will offer an exciting, new way to bring e-commerce to lives of people everyday."
Located in Santa Clara, California, the executive management team of Mulix.com draws upon several years of solid experience in the internet/intranet industry, with additional functional experience in investment banking, corporate law, and electrical engineering. Founded in October, 1999 Mulix.com hopes to launch its live Web site in the near future.
About TeleVideo, Inc.
Founded in 1975, TeleVideo, Inc. is a pioneer in thin client server-based computing. Today, the company is utilizing its expertise in server-based network computing to forge new ground in delivering thin-client solutions. For more information visit the company's web site at http://www.televideo.com.
The statements in this news release may be considered ``forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance suggested in this news release. Such factors include, but are not limited to, actual and potential competition, risks associated with consolidation in the industry and general and economic conditions, and the need to manage with consolidation in the industry and general and economic conditions, and including without limitation, its Annual Report on Form 10-K for the fiscal year ended October 31, 1999, in which these and other risks are discussed. For more information, please refer to TeleVideo's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof. TeleVideo undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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