Sunnyvale, Calif. - January 30, 2001 -- Oak Technology, Inc. (NASDAQ: OAKT), a leading provider of embedded solutions for the optical-storage and digital-imaging markets, today announced one of its most significant design wins in the inkjet multifunction peripheral (MFP) market space to date. This month, Xerox Corporation began shipping the second of its WorkCentre M-Series color inkjet MFPs, featuring Oak's PM-44i iDSP image processor, which provides high-performance and programmable image processing. The WorkCentre M940 and WorkCentre M950 each feature color inkjet copying, printing, scanning and PC faxing and represent the first MFPs from Xerox developed in alliance with Sharp and Fuji Xerox. The WorkCentre M-Series prints up to 50 percent faster than competitors' products and saves ink with individual ink tanks. The products are targeted to the SOHO market, aiming to deliver faster, more affordable inkjet printing to millions of small and home offices worldwide. "This win is significant as it represents Oak's continued success in capitalizing on the transitions in the peripheral market from monochrome to color and from single-function to multi-function. Our iDSP image processing solutions address both of these key trends," said Simon Dolan, vice president and general manager, Oak Technology's Imaging Group. "Most inkjet MFPs can copy at only a fraction of the speed at which they print. The Xerox M-Series MFPs, however, have the ability to copy at the same speed as they print. Oak's advanced image processing algorithms, combined with Oak's PM-44i's processing power, enable the M-Series to deliver color copying at 7 ppm, the same as its rated printing speed."