SI Diamond To Explore Strategic Options
Austin, Texas – June 5, 2002 – SI Diamond Technology (OTC BB: SIDT) today announced that its board of directors has approved the exploration of strategies which should ultimately increase shareholder value. Alternatives include partial sale, and/or spin-off of Electronic Billboard Technology (EBT), partial sale, and/or spin-off of Applied Nanotech Inc., or a combination of both. This transaction may result in the creation of two publicly held companies, or one publicly traded company with a minority ownership in the remaining privately held company.
SI Diamond Technology's board of directors has determined that separation of the businesses is in the best interests of SI Diamond Technology and its shareowners, and should be implemented as a way to enhance shareholder value. The separation will allow the company to focus greater management attention and resources on opportunities for each of the individual companies as well as better manage the overall cost structures. Currently, both Applied Nanotech Inc., (ANI) and EBT, show signs of accelerating growth.. However, ANI and EBT, are now exhibiting differing cash flow needs, customer bases, sales and distribution channels, as well as overall long term strategies.
SI Diamond's management and board of directors believe that unlocking the value of ANI is a critical step in maximizing shareholder value. ANI is a premier research and development organization dedicated to developing applications in nanotechnology, such as carbon nanotubes, metalized nanoparticles, silicon nanocrystals, and nanowires. Applications for ANI's technology include large area displays, artificial dielectric materials, high intensity light sources, densely packed nanowires, decontamination of biological agents, single end multiplex electron sources, and portable industrial and medical X-Ray tubes. ANI intends to leverage its proprietary patent portfolio and intellectual property through licensing agreements and revenue sharing. ANI's potential customers include companies from North America, Europe and particularly Asia.
EBT is focused on the commercialization of electronic, digitized sign technology. EBT provides innovative, digital solutions that are redefining the retail environment. EBT offers POP advertising, branding, content creation and networking. One of its most popular products is the "E-window technology" - which offers businesses the opportunity to choose between a transparent window or alternatively, a bright, full-color, full-motion video and sound display. EBT's customers include major retailers, quick service restaurants, and marketing and advertising companies.
SI Diamond expects to select and close one or more of these proposed alternatives in the near term.
Safe Harbor Statement
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Act of 1934, and is subject to the safe harbor created by those sections. The Company's actual results could differ materially from those projected in the forward-looking information. Future results may be impacted by risk factors listed from time to time in SIDT's SEC reports. SI Diamond Technology, Inc. disclaims any intent or obligation to update forward-looking information.
SI Diamond Technology is a holding company consisting of three wholly owned operating subsidiaries. Applied Nanotech Inc., is a premier research and development organization dedicated to developing applications for nanotechnology. Electronic Billboard Technology, Inc. (EBT) is geared toward the commercialization of electronic digitized sign technology. Sign Builders of America, Inc. (SBOA), is a manufacturer of high quality signage. SI Diamond Technology's website is www.sidiamond.com.
Company Contact:
Doug Baker
Applied Nanotech Holdings, Inc.
248.391.0612
dbaker(at)appliednanotech.net