Contact:
Soo Chung Patterson
408-955-7783
soo@televideo.com
TELEVIDEO TO RECEIVE CNET STOCK IN ACQUISITION OF MYSIMON
SAN JOSE, Calif. (BUSINESS WIRE) - March 14, 2000 - TeleVideo, Inc. (OTC BB: TELV ) today announced that the company's $1 million investment in mySimon, Inc. is in the process of being converted into common stock in CNET Networks, Inc.(NASDAQ: CNET ), following CNET's acquisition of mySimon on February 29, 2000.
TeleVideo expects to receive approximately 375,000 shares of CNET common stock. TeleVideo is restricted from selling any of its interest in CNET stock until at least three days after the release of earnings for CNET for the quarter ended March 31, 2000.
"I am pleased that TeleVideo's investment in mySimon has significantly increased TeleVideo's shareholder value. This is important to us and to our investors, and the result of this investment will help us to continue to drive our growth in fiscal 2000 and beyond," stated Dr. Philip Hwang, TeleVideo Chairman and CEO.
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 u
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