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Monday February 28, 12:01 am Eastern Time
Company Press Release
UltraCard Inc. Forms Strategic Alliance with SciVac
SEATTLE--(BUSINESS WIRE)--Feb. 27, 2000--UltraCard Inc. developers of high capacity, portable data storage, today announced a cooperative affiliation with San Jose-based SciVac, leaders in precision thin-film processes and equipment, to produce a customized sputtering system for UltraCard's advanced memory card technology.
UltraCard Inc. uses a range of proprietary and patented technologies to provide a durable, high capacity read-write data card. SciVac management, with more than 20 years experience in magnetic thin-film, is an acknowledged leader in sputtering technology. Both UltraCard and SciVac recognize the potential of the system which offers an means of combining proprietary magnetic and non-magnetic layers including Keepered Media technology.
UltraCard Inc. is especially pleased with SciVac's expertise in Keepered Media technology which was selected after extensive testing because it results in a product which significantly increases durability of magnetic media. The technology also allows for more resistance to demagnetization associated with ordinary magstripe cards and provides a means of improving data security.
UltraCard Inc. President Dan Kehoe stated, ``SciVac will play an important role in establishing UltraCard as a leader in personal, transportable data storage. As part of this agreement, SciVac will assemble the manufacturing system at UltraCard's Northern California facility.''
``We're excited to be working with SciVac to jointly develop the architecture of this breakthrough system,'' said Kehoe. ``This affiliation is another milestone in the continuing advancement in the way consumers and businesses will use and benefit from personal, transportable data storage. We are proud to be a part of this revolutionary field of technology.''
Kehoe adds that SciVac has also agreed to become a second source for the production of the cards. Additionally, SciVac has agreed to allow UltraCard to manufacture cards necessary for beta testing at SciVac's Northern California facility.
President and CEO of SciVac, David Pearce says, ``The alignment with UltraCard and use of SciVac's unique deposition source technology will pave the way for the exploration of powerful new ways to improve technology and expand the market for the UltraCard technology.''
``SciVac's high throughput systems will provide the customer a significant cost-of-ownership advantage,'' says Pearce. ``The modular properties of our multiple vacuum system platforms will enable systems to be easily reconfigured as UltraCard's requirements change and expand.''
Pearce, along with Dennis Hollars, Ph.D., vice president Engineering for SciVac, were part of the development team for a successful high throughput disk sputtering program subsequently acquired by Seagate Technology. Today, Seagate is an investor in SciVac. Dr. Hollars, a solar and nuclear physicist, says the contract with UltraCard is only the beginning of significant strides in portable data storage.
``SciVac's dual rotary cylindrical technology opens up thin film markets and applications that have previously been limited, difficult or impractical,'' says Dr. Hollars. ``We have only begun to explore the possible applications for UltraCard.''
Dr. Hollars has more than 30 years experience in thin film coatings, vacuum system design and applied physics. He is directly responsible for vacuum deposition Systems currently used to produce a significant number of the world's thin film processes. Bruce Lairson, Ph.D. was recently appointed director of Card Development for UltraCard Inc. Dr. Lairson will be responsible for working with SciVac in the design of the sputtering system and oversee the manufacturing process. Lairson has his Ph.D in Material Science from Stanford University and was previously designer of Sputter R&D at Komag and director of Advance Technology at Western Digital.
``We are confident that the initial UltraCard product will prove to be a technological discovery with substantial usage in a broad range of industries,'' said Kehoe. ``We are most pleased to be working with SciVac to help meet market demand and deliver a product that will add yet another dimension to e-commerce on and offline.''
Upgrade International Corp. (OTCBB:UPGD - news), through it ownership interest in UltraCard Inc., is engaged in the development and commercialization of a patented, revolutionary data storage technology. UltraCard applies conventional hard drive storage technology onto the surface of the standard magnetic stripe card and the integrated circuit chip card (smart card). This will provide numerous potential industrial users with a combination of high level security and a vastly greater amount (up to several mega bytes) of personal, transportable data storage at the lowest cost in the industry. By comparison existing magnetic stripe and smart card technologies have 256 bytes and 16k of storage capacity respectively.
On Behalf of the Board of Directors, Daniel Bland, President
This news release may contain forward-looking statements relating to future results, performance, plans, events or other matters. Such statements involve numerous risks and uncertainties, including, but not limited to, risks and uncertainties pertaining to development of the company's products and services and markets for such products and services, the timing and level of customer orders, competitive products and services and pricing, changes in economic conditions and the markets for the company's products and services and other risks and uncertainties. Actual results, performance and events may differ materially. Readers are cautioned not to place undo reliance on these forward-looking statements which speak only of the date of this news releases. The company undertakes no obligation to release revisions to these forward-looking statements to reflect events or circumstances after the date of this news release.
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Contact:
Upgrade International Corp., Seattle
Daniel Bland, 206/903-3116
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