NMGC Neomagic Corp (MM)

SANTA CLARA, Calif., Feb. 13 /PRNewswire-FirstCall/ -- NeoMagic Corporation (NASDAQ:NMGC), announced today that its MiMagic 6+ applications processor is used to power Neonode's newly launched N2 smart phone device. In this device, MiMagic 6+ is the host applications processor enabling all the multimedia features in addition to running the Windows CE 5.0 operating system and the user interface. The N2 is a smart phone product with a unique form- factor, a very innovative touch-screen controlled user interface and a host of multimedia features. The MiMagic 6+ processor uses a proprietary associative processing array based multimedia engine that is fully programmable and enables very low power and high performance multimedia features in mobile devices. The power of MiMagic 6+ brings many hours of high performance multimedia to the N2 users. "The programmability and high performance along with its very low power operation makes MiMagic 6+ an ideal platform for the N2 and future generation products from Neonode. New software can be easily deployed on MiMagic 6+ to add new multimedia features. This makes it very quick, easy and cost effective to build upon the N2 to bring more products to the market in the near future," said Thomas Eriksson, CTO at Neonode AB. "We believe NeoMagic's innovative architecture combined with Neonode's unique product design is a winning combination. We look forward to continuing our work with Neonode to bring more exciting products to the market," said Douglas Young, President and CEO of NeoMagic Corporation. 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, T-DMB, E-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 Neonode Neonode AB was founded in 2001 and is a Swedish developer of mobile devices. Neonode's mobile products are based on patented technologies enabling a unique design and user experience. These products are also based on an open and upgradeable platform minimizing the need for constantly updating the hardware. Neonode Inc. has recently announced the execution of definitive merger agreement with SBE, Inc. a publicly traded company. After shareholder approval of the merger, the combined company will be headquartered in Stockholm, Sweden. 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 Neonode, Neonode's use of the MiMagic 6+ to add new multimedia features to its current or future generation products, and Neonode's plans to bring more products to the market in the future. 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 Neonode's products. Neonode does not have a contract with the Company that specifies a minimum level of purchases of the Company's products or that provides for any ongoing development projects utilizing the Company's products. Neonode 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 and NeoMobileTV are trademarks, 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. (Logo: http://www.newscom.com/cgi-bin/prnh/20020802/NMGCLOGO ) 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; or Erica Mannion of Sapphire Investor Relations, LLC, +1-212-766-1800, for NeoMagic Corporation Web site: http://www.neomagic.com/

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