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New Company to Redefine the Consumer Digital Imaging Business

Press release from the issuing company

Milpitas, Calif. - 2/7/01 SiPix, Inc. a new company focused on delivering category killer digital imaging appliances to the consumer market, has officially opened its worldwide corporate headquarters. SiPix has received strategic funding exceeding $100 million led by Goldman Sachs, the global investment bank. Other key investors include Baring Private Equity Partners, CitiCorp Capital, Worldview Technology Partners and Telligent Investment Management LLC. The first group of new products will be announced at the PMA International Convention and Trade Show in Orlando, Florida on February 11-14, 2001. SiPix will be demonstrating its innovative consumer products in booth #825. "SiPix has shown that they will be leaders in their business, and we are delighted to partner with them on this investment," said Goldman Sachs Managing Director, Shirley Lin. "SiPix is positioned to achieve great things," said Ron Glaz, program manager at IDC Research Group. "The ability to bring innovative, high quality and affordable products to market is a successful combination, and SiPix has that ability. The company is in the right space at the right time." With dedicated plants for digital imaging appliances in Zhuhai and Shanghai, China, and an even larger new facility under construction also in Zhuhai, SiPix will have the capacity to manufacture approximately one million digital cameras per month this year. In the United States, China and Taiwan, SiPix has established a total of five research and development laboratories. With one of the largest groups of dedicated digital imaging scientists and design engineers in the world, SiPix is well positioned to create exciting digital imaging products and become a world leader in digital imaging technology and products.

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