NMGC Neomagic Corp (MM)

SANTA CLARA, Calif., March 19 /PRNewswire-FirstCall/ -- NeoMagic Corporation (NASDAQ:NMGC) announced today that LG Innotek is using NeoMagic's MiMagic 6+ Multimedia Processor for a follow-on wireless security camera product. In October 2006, NeoMagic announced that LG Innotek was using the MiMagic 6+ in a wireless security camera product. The product announced in October is currently shipping to customers. This new announcement is for a next generation wireless camera that offers upgraded features, including higher resolution H.264 video and enhanced audio capability. The new wireless camera also captures video and audio and then delivers the data to a PC server for remote monitoring. The MiMagic 6+ processor uses a proprietary, fully programmable multimedia engine based on parallel processing technology. This multimedia engine can support many popular codecs, including H.264, MPEG4, MJPEG and JPEG encoding. The MiMagic 6+ also enables an array of image enhancement features including linear zoom, image stabilization and low-light enhancement. "The H.264 video encoding capability and the array of image enhancement features has given us great flexibility and a distinctive edge in our products. The versatility of the MiMagic 6+ makes it an excellent platform to support our security camera product roadmap," said Mr. Chang Ki Chul, Chief Research Engineer at LG Innotek. "We are very pleased to be in the second wireless camera product by LG Innotek. This show of confidence reinforces the strength of our products and technology. We continue to work with LG Innotek and hope to support their efforts to bring more new products to market in the future," said Douglas Young, President and CEO of NeoMagic Corporation. LG Innotek's latest security camera is scheduled for market introduction in April of 2007. 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 and LG Innotek's planned introduction of the next generation wireless camera. 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. (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: Douglas R. Young, Chief Executive 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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