Exhibit 99.2
Press Release
Tut Systems Announces Closing of $14.9 Million Private
Placement Financing
LAKE OSWEGO, Oregon, July 22, 2005– Tut Systems, Inc. (Nasdaq: TUTS), a leader in delivering video and data services over broadband networks, today announced that it has closed its previously announced private sale of common stock and warrants to institutional investors for $14.9 million. Tut Systems will use the proceeds from this transaction for general working capital.
Q2 2005 Earnings Release Schedule for July 26, followed by a Conference Call on July 27, 2005
Tut Systems will announce its second quarter 2005 financial results and host a conference call. A Press Release will be available by 2:00 p.m. Pacific Time, July 26, at www.tutsys.com and on PR Newswire.
Tut Systems President and CEO Sal D’Auria, and CFO Randy Gausman, will host the conference call at 5:00 a.m. Pacific Time, July 27. Participants of the conference call should dial in at least 5 minutes before the start time.
Conference ID # 7959710
U.S. and Canada dial (877) 356-8058
International participants dial (706) 634-2465
Online at www.tutsys.com
A replay will be available two hours after the call ends for one week dial (800) 642-1687 or (706) 645-9291 and enter the conference ID number. A replay is also available at www.tutsys.com.
About Tut Systems, Inc.
Tut Systems, Inc. delivers content processing and distribution products for deploying next-generation data and video services over broadband networks. Service providers, content providers and government agencies in the United States and abroad use Tut Systems solutions to deliver broadcast-quality video over broadband networks.
Tut Systems is headquartered in Lake Oswego, OR with regional offices across North America, Europe and Asia. For more information visitwww.tutsys.com or call (971) 217-0400.
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Contact: |
Randy Gausman
Tut Systems
(971) 217-0400
randallg@tutsys.com