NMGC Neomagic Corp (MM)

SANTA CLARA, Calif., Oct. 24 /PRNewswire-FirstCall/ -- NeoMagic Corporation (NASDAQ:NMGC) announced today that LG Innotek is using NeoMagic's MiMagic 6+ Multimedia Processor in its wireless security camera product. This security camera product captures video and audio and then delivers the data to a central server for remote monitoring. (Logo: http://www.newscom.com/cgi-bin/prnh/20020802/NMGCLOGO ) "The H.264 video encoding capability of the MiMagic 6+ Multimedia Processor is a key attribute that enables high quality video capability at the lowest bit-rates for our wireless security camera product," said Mr. Chang Ki Chul, Chief Research Engineer at LG Innotek. "Additionally, the fully programmable Multimedia Engine in MiMagic 6+ provides many image enhancement features including linear zoom and low-light enhancement. The MiMagic 6+ also offers MPEG 4, MJPEG and JPEG encoding. All these capabilities give us great flexibility and a distinctive edge in our product," he continued. "We are very pleased to work with LG Innotek, a global leader in the manufacture and sale of key electronic components. It is a strong endorsement for NeoMagic's technology and product differentiation to be selected as a supplier to LG Innotek. We are very excited to have the opportunity to work with LG Innotek to bring its wireless security camera to market," said Doug Young, President and CEO of NeoMagic Corporation. NeoMagic has begun shipping MiMagic 6+ processors to LG Innotek to meet their production schedule. About NeoMagic NeoMagic Corporation delivers semiconductor chips and software that provide mobile solutions that enable new multimedia features for handheld devices. These solutions offer low-power consumption, small form-factor and high performance processing. The Company demonstrated one of the first solutions used for H.264 video decoding in a mobile digital TV phone, and is developing and delivering solutions for audio/video processing of the dominant mobile digital TV standards, including ISDB-T, DMB, and DVB-H. For its complete system solution, NeoMagic delivers a suite of middleware and sample applications for imaging, video and audio functionality, and provides multiple operating system ports with customized drivers for the MiMagic product family. NeoMagic has a patent portfolio of over 25 patents that cover NeoMagic's proprietary array processing technology, embedded DRAM and other technology. Information on the Company may be found on the World Wide Web at http://www.neomagic.com/. About LG Innotek Co., Ltd. Founded in 1970, LG Innotek Co., Ltd, a division of LG Group, is a global market leader in the manufacture and sale of key electronic components and modules in the areas of digital information-based mobile telecommunications, displays, networks and car electronics. LG Innotek's products include: LCD modules, LEDs (light emitting diodes), camera modules, power modules (Inverter, DC/DC Converter, IPM, PSU and MCM), digital tuner and wireless communications modules (Bluetooth, Wireless LAN and Wireless Modem). With a solid background in developing high quality, innovative solutions while anticipating market expectations, LG Innotek is consistently delivering core technology for the future. LG Innotek continues to pioneer the development of next generation products for applications such as Telematics and RFID. The company has its headquarters in Seoul, Korea with sales and development offices around the world. LG Innotek has generated annual sales of over US$ 1.2 billion to customers such as LG, Motorola, Nokia, Sharp and Sony. Information on the company may be found on the World Wide Web at http://www.lginnotek.com/ This press release contains forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, including the Company's plans to continue shipping products to LG Innotek. These forward-looking statements reflect current expectations. However, actual events and results could vary significantly based on a variety of factors including but not limited to the market acceptance of LG Innotek's products. LG Innotek does not have a contract with the Company that specifies a minimum level of purchases. In addition, LG Innotek could stop purchasing products from the Company at any time or switch to other vendors. Additional risks that could affect the Company's future operating results are more fully described in the Company's most recent annual report, its most recent quarterly report and other filings with the United States Securities and Exchange Commission (SEC), and are available online at http://www.sec.gov/. NeoMagic may, from time to time, make additional written or oral forward- looking statements, including statements contained in filings with the SEC and reports to shareholders. NeoMagic does not undertake the obligation to update any forward-looking statements that may be made by or on behalf of the company, except as may be required by law. NOTE: NeoMagic, and the NeoMagic circle logo are registered trademarks, and MiMagic is a trademark, of NeoMagic Corporation. All other trademarks are the property of their respective owners. NeoMagic disclaims any proprietary interest in the marks and names of others. http://www.newscom.com/cgi-bin/prnh/20020802/NMGCLOGO http://photoarchive.ap.org/ DATASOURCE: NeoMagic Corporation CONTACT: Scott Sullinger, Chief Financial Officer of NeoMagic Corporation, +1-408-988-7020; Erica Mannion of Sapphire Investor Relations, LLC, +1-212-766-1800, for NeoMagic Corporation Web site: http://www.neomagic.com/

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