FAIRFAX, VIRGINIA, July 18, 2001 - Hitachi, Ltd. (NYSE: HIT) and
Xybernaut Corporation (NASDAQ: XYBR), today announced that Hitachi
has entered into a license agreement under Xybernaut's broad patents
for wearable computing and communications to develop a Wearable Internet
Appliance (WIA) for the consumer market.
Microsoft and Windows are registered trademarks of Microsoft Corporation.
Under terms of the agreement announced at the Waldorf Astoria in New
York, Hitachi will manufacture and sell the product and OEM it to
Xybernaut, who will also sell and market it. Xybernaut will begin
shipping the WIA to US markets before Christmas with pricing under
$2,000 depending upon the configuration.
A newly developed superscale Hitachi 32-Bit 128 MHz RISC processor
with companion coprocessor will power the 10.9-ounce WIA and will
run Microsoft(R)'s Windows(R) CE 3.0. The WIA incorporates a Compact
FlashTM slot, USB port, 32 MB of
RAM and a removable internal rechargeable battery. The WIA provides
users with instant on/off Internet access and a SVGA (800×600)
head mount display that provides a desktop-like viewing experience.
The new hands-free PC can be worn while on public transportation,
in the office, shopping or relaxing at home. Hitachi will provide
the WIA to Xybernaut under terms of the agreement signed June 30,
Among the suite of services that Xybernaut will target for the new
product will be entertainment in the form of distance learning, music,
video and games, GPS, cellular voice communications and paging, interactive
banking, shopping, and stock market trading.
Hitachi is very pleased to enter into this close relationship
with Xybernaut, the leader in wearable computing, said Shigeru
Matsuoka, CEO of Net-PDA Venture Company, Hitachi, Ltd. We expect
that our new product line will completely change the way people live,
work and play. The applications we envision will offer up all kinds
of new business opportunities. Our current partners and clients, as
well as our future partners, subscribers and consumers alike will
find that our products enrich their lives.
Hitachi's reputation and reach in the consumer space, as well
as in the commercial and industrial sectors is unparalleled,
stated Edward G. Newman, chairman, president and CEO of Xybernaut
Corporation. We are excited to have Hitachi as a partner in
developing the light commercial and consumer markets, which we expect
will grow rapidly on a worldwide basis, particularly with increases
in wireless bandwidth. We fully expect that Hitachi will be very successful
in these markets, and that both companies will benefit greatly from
About Hitachi, Ltd.:
Hitachi, Ltd., headquartered in Tokyo, Japan, is one of the world's
leading global electronics companies, with fiscal 2000 (ended March
31, 2001) consolidated sales of 8,417 billion yen ($67.9 billion*).
The company manufactures and markets a wide range of products, including
computers, semiconductors, consumer products and power and industrial
equipment. For more information on Hitachi, Ltd., please visit Hitachi's
Web site at http://global.hitachi.com.
*At an exchange rate of 124 yen to the dollar.
About Xybernaut Corporation:
Xybernaut Corporation is the leading provider of wearable computing
hardware, software and services, bringing communications and full-function
computing power in a hands-free design to people when and where they
need it. The Mobile Assistant(R) V (MA V(R)), Xybernaut(R)'s patented
wearable PC, runs all major PC operating systems, including Windows(R)
98/2000/NT, Linux and SCO Unix. With the MA V, customers can realize
immediate savings in maintenance, repair, diagnosis, inspection, inventory
control and data collection in a broad spectrum of industries, including
manufacturing, distribution, utilities, government and transportation.
Xybernaut also provides hyper linking, multimedia authoring tools,
project management, asset management and speech software toolkits.
Headquartered in Fairfax, Virginia, Xybernaut has offices and subsidiaries
in Europe (Germany) and Asia (Japan). Visit Xybernaut's web site at
MS-DOS, Windows and Windows NT are registered trademarks of Microsoft
This press release contains forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995 (the
Act). In particular, when used in the preceding discussion,
the words plan, confident that, believe,
scheduled, expect, or intend to,
and similar conditional expressions are intended to identify forward-looking
statements within the meaning of the Act and are subject to the safe
harbor created by the Act. Such statements are subject to certain
risks and uncertainties and actual results could differ materially
from those expressed in any of the forward-looking statements. Such
risks and uncertainties include, but are not limited to, market conditions,
the availability of components and successful production of the Company's
products, general acceptance of the Company's products and technologies,
competitive factors, timing, and other risks described in the Company's
SEC reports and filings.