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EXHIBIT 99.1
MARKET
PATHWAYS
(LOGO) NEWS RELEASE
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FINANCIAL RELATIONS INCORPORATED
COMPANY CONTACT:
Thomas J. Najar
SI Diamond Technology, Inc.
512.339.5020 ext. 106
FOR IMMEDIATE RELEASE
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SI DIAMOND TECHNOLOGY ANNOUNCES THE COMMENCEMENT
OF THE COLOR FED PRODUCT DEVELOPMENT
TO BE MANUFACTURED IN THE YEAR 2000
AUSTIN, TEXAS, JAN. 22, 1999 - SI DIAMOND TECHNOLOGY, INC. (OTC BB: SIDT)
announced today that its subsidiary, Field Emission Picture Element
Technology has secured the necessary funds to enter phase two of the
collaborative efforts with its partners in Japan (See Press Release of May
5, 1997 and Nov. 3, 1998).
During this phase, the company will finalize the product development of the
color field emission display ("FED") for large screen display applications
and video walls. After the successful completion of the development
program, the parties contemplate moving to the manufacturing phase in the
first part of year 2000.
"Entering this stage of product development and manufacturing is a
monumental milestone for our company," said Marc Eller, chairman and chief
executive officer of SI Diamond. "As we get closer to the manufacturing
stage, we will determine our licensing and manufacturing strategies," said
Dr. Zvi Yaniv, president of SI Diamond.
The company also announced that Wallace Sanders & Company has accepted the
appointment of the SI Diamond Technology, Inc. board of directors to be its
auditors. Wallace Sanders & Company is regional CPA firm based in Dallas,
Texas. The 1998 audit is expected to be completed in February.
This press release contains forward looking information within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Act of 1934, as amended, and is subject to the safe
harbor created by those sections. The Company's actual results could differ
materially from those projected in the forward-looking information. Future
results may be impacted by risk factors listed from time-to-time in SIDT's
SEC reports.
SI Diamond Technology is a holding company consisting of two wholly owned
subsidiaries. The Field Emission Picture Element Technology (FEPET)
subsidiary is developing products for applications utilizing SIDT's
proprietary field emission technology. The Electronic Billboard Technology
(EBT) subsidiary is geared toward the commercialization of electronic
digitized sign technology.
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Fax 949.955.1868
www.marketpathways.com - E-mail: stockquest@marketpathways.com
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SI Diamond Technology is a holding company consisting of two wholly owned
subsidiaries. The Field Emission Picture Element Technology (FEPET)
subsidiary is developing products for applications utilizing SIDT's
proprietary field emission technology. The Electronic Billboard Technology
(EBT) subsidiary is geared toward the commercialization of electronic
digitized sign technology.
This press release contains forward looking information within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Act of 1934, as amended, and is subject to the safe
harbor created by those sections. The Company's actual results could differ
materially from those projected in the forward-looking information. Future
results may be impacted by risk factors listed from time-to-time in SIDT's
SEC reports.
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