EXHIBIT 99.3
[FIBERCORE INC. LOGO]
NEWS RELEASE
FOR IMMEDIATE RELEASE
FIBERCORE NASDAQ DELISTING HEARING HELD;
FINAL DETERMINATION EXPECTED IN A FEW WEEKS
CHARLTON, MASS - MAY 27, 2003 -- FiberCore, Inc. (Nasdaq: FBCEE), a leading
manufacturer and global supplier of optical fiber and preform for the
telecommunication and data communications markets, today announced that the
hearing it requested to contest the delisting of its securities from the Nasdaq
Smallcap Market was held on May 22, 2003. The Hearing Panel has requested
additional information from the Company. It expects to make a determination as
to continued listing or delisting after receipt of that information. The
delisting action continues to be stayed pending the decision of the panel.
If the Company should eventually be delisted, it would suffer material adverse
consequences as set forth in the press release dated April 23, 2003 and no
assurances can be given that such delisting will not occur. If the Company
should be delisted, the Company will endeavor to facilitate the trading of its
stock on the OTC Bulletin Board, but no assurance can be given that such a
trading market will be available. FiberCore previously traded on the OTC
Bulletin Board before moving to the Nasdaq Smallcap Market in November 2000.
FiberCore, Inc. develops, manufactures, and markets single-mode and multimode
optical fiber preforms and optical fiber for the telecommunications and data
communications markets. In addition to its standard multimode and single-mode
fiber, FiberCore also offers various grades of fiber for use in laser-based
systems up to 10 gigabits/sec, to help guarantee high bandwidths and to suit the
needs of Feeder Loop (also known as Metropolitan Area Network), Fiber-to-the
Curb, Fiber-to-the Home and Fiber-to-the Desk applications. Manufacturing
facilities are presently located in Jena, Germany and Campinas, Brazil.
For more information about the company, its products, or shareholder information
please visit our Website at: www.FiberCoreUSA.com or contact us at: Phone -
508-248-3900 or by FAX - 508-248-5588 or E-Mail: sales@FiberCoreUSA.com;
investor_relations@FiberCoreUSA.com
Except for the historical matters discussed above, the statements in this press
release are forward looking and are made pursuant to the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995. They are
based on the Company's current expectations and are subject to a number of risks
and uncertainties. Actual results may differ materially from those projected as
a result of certain general economic and business conditions; loss of market
share through competition; introduction of competing products by other
companies; changes in industry capacity; pressure on prices from competition or
from purchasers of the Company's products; availability of qualified personnel;
the delivery of an ability to commission new equipment as scheduled; ability to
obtain required financing; dependence on a limited number of raw material
suppliers; the loss or reduced creditworthiness of any significant customers;
and other factors detailed from time to time in the Company's filings with the
Securities and Exchange Commission.
CONTACTS:
AT THE COMPANY: AT FRB|WEBER SHANDWICK:
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Dr. Mohd A. Aslami, President/CEO Alison Ziegler - General Info.
Robert Lobban, CFO 212/445-8432
508/248-3900
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FIBERCORE, INC. FIBER OPTICS FOR THE NEXT GENERATION
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253 Worcester Rd o P.O. Box 180 o Charlton, MA 01507
o Tel: (508) 248-3900 o Fax: (508) 248-5588