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EXHIBIT 99.1
PRESS RELEASE
FOR IMMEDIATE RELEASE
FROM: STERN & COMPANY Contact: Richard Stern
215 Park Avenue So. Ste.2013 Henry Ling
New York, NY 10003 (212) 777-7722
FOR: DENSE-PAC MICROSYSTEMS, INC. Contact: William Stowell
7321 Lincoln Way (714) 898-0007
Garden Grove, CA 92841-1431
DENSE-PAC MICROSYSTEMS NAMES NEW
CHIEF EXECUTIVE OFFICER AND PRESIDENT
GARDEN GROVE, CALIF., January 7, 1997 - Dense-Pac Microsystems, Inc.,
(Nasdaq:DPAC) announced today the appointment of Uri Levy as its new Chief
Executive Officer, Director and President.
Mr. Levy previously served in several positions as president, chief operating
officer and director of Centennial Technologies, Inc. (NYSE: CTN) which
specializes in customized PCMCIA/PC card solutions. Mr. Levy then (from Aug
1996) served as president of Centennial Capital Corporation, a new wholly-owned
subsidiary of Centennial Technologies, specializing in investment in technology
companies, and he also served on the board of directors of these companies.
During his tenure at Centennial (Aug 1994 to Nov 1996), revenues increased by
more than 360% ($8.2 million to $37.8 million, June of 1996) and the Company was
listed in the Top 200 fastest growth companies by Forbes Magazine (Nov 1995).
Business Week and Barron's rated Centennial as the best performing stock in
1996.
Prior to Centennial, Mr. Levy served as president and chief operating officer of
Acom Computer Inc. (1989-1994), specializing in laser printing applications and
network connectivity solutions for IBM AS400 and RS6000 multi-user server
networked systems. During his tenure sales rose by 300%. Mr. Levy also worked
for Citicorp in the development of Citibank's touch screen ATM.
Mr. Levy stated that he is looking forward to the challenge of expanding
Dense-Pac's numerous applications with the company's excellent and experienced
team members. His strategies for growth will include expansion of sales into
emerging market segments, the introduction of innovative and customized products
to meet our customers' needs, strategic alliances with related technology firms,
licensing of Dense-Pac technology, as well as potential acquisitions of related
technology firms.
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Mr. Levy's experience includes leading edge design, manufacturing, OEM sales and
capital investments in technologies in fields such as, surface mount designs,
PCMCIA card systems, chip-on-board, optical imaging, internet, video
conferencing, laser printers, memory storage devices and network server
communications. Mr. Levy has over 18 years experience with high technology
industry, including founding Cygnus Engineering, a computer aided design
engineering firm, and VIVID Communication, a video conferencing firm. He holds
Bachelors and Masters Degrees in engineering. Mr. Levy is also the author of the
book "Electronic Printing", published by Interquest in 1993, a member of IEEE
and the Young President's Organization.
Mr. Levy succeeds James G. Turner who stepped down from his position as Chief
Executive Officer and President.
Statements regarding the Company's expectations about growth strategies, new and
existing products, future financial performance and other forward looking
statements are subject to various risks and uncertainties, including, without
limitation, demand and acceptance of new and existing products, technological
advances and product obsolescence, availability of semiconductor devices at
reasonable prices, competitive factors and the availability of capital to
finance growth. These and other risks are discussed in greater detail in the
Company's filings with Securities and Exchange Commission.
Dense-Pac Microsystems, Inc. is a designer and manufacturer of proprietary
computer chip stacking technologies that allows the Company's government and
commercial customers to pack huge amounts of memory into small spaces. Its
memory technology can be used in such diverse areas as space satellites and
space missiles, high performance auto engines, computer servers and cellular
telephones.
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