STEC Santech Holdings Limited

SimpleTech Settles Lawsuit With Lexar Media SANTA ANA, Calif., Dec. 4 /PRNewswire-FirstCall/ -- SimpleTech, Inc. , a designer, manufacturer and marketer of custom and open-standard memory solutions based on Flash memory and DRAM technologies, today announced that it has resolved its dispute with Lexar Media Inc., and that the two companies have agreed to a mutual dismissal of the lawsuit currently pending in Federal District Court of Central District of California. Additionally, SimpleTech has taken a royalty-bearing license under Lexar's patents for its past and future sales of Memory Stick products. SimpleTech, Inc. believes that the Memory Stick products it will offer in the future will not be affected by this licensing agreement. Furthermore, SimpleTech's other Flash products were not subjects of the current lawsuit and are therefore not affected by the licensing agreement. "We are pleased to have settled this litigation in a fair and equitable manner," said Manouch Moshayedi, chairman and chief executive officer at SimpleTech. "Helping customers keep pace with their increasing storage and memory needs is our overriding objective, and the end of this action will help us remain focused on that aim." About SimpleTech SimpleTech, Inc. designs, manufactures and markets custom and open-standard memory solutions based on Flash and DRAM memory technologies. Headquartered in Santa Ana, California, the company offers a comprehensive line of over 2,500 products and specializes in developing high-density memory modules, memory cards and storage. For more information, please visit our web site at http://www.simpletech.com/ . Safe Harbor This release may contain forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted. Important factors which could cause actual results to differ materially from those expected or implied in the forward-looking statements are detailed under "Risk Factors" in filings with the Securities and Exchange Commission made from time to time by SimpleTech, including its periodic reports on Forms 10-K, 10-Q, and 8-K. Other factors that could cause actual results to differ materially from those expressed or implied in the forward- looking statements include the risk that due to unforeseen market conditions SimpleTech, Inc. might be forced to purchase its Memory Stick products from a source which would require payments to Lexar Media Inc. SimpleTech undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof. DATASOURCE: SimpleTech, Inc. CONTACT: Media, Elaine Marshall, Director of Public Relations, +1-949-260-8219, , or Investors, Mitch Gellman, Director of Investor Relations, +1-949-260-8328, , both of SimpleTech Web site: http://www.simpletech.com/

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