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SeaView Taiwan Contract Will Exceed $80 Million [SEVU-news]

SeaView Taiwan Contract Will Exceed $80 Million
ST. PETERSBURG, Fla., Nov. 2 /PRNewswire/ -- SeaView Video Technology Inc.
(OTC Bulletin Board: SEVU) (www.sevu.com) today released the following
information from Logis-Tech Inc., the Alexandria VA-based teaming partner
representing the Company to the Department of Defense. Logis-Tech Director of
Government Marketing, Frank Travis, issued the following statement:
"We have been working on a major contract with Taiwan. Top military
advisors have visited us here in the United States. In addition, our people
have made two presentations there. We have demonstrated the multi-camera
system from SeaView Video Technology Inc., utilizing the IRFS(TM) system. Our
overall contract is several hundred million dollars, and we have allotted
funding for SeaView's "SecureView" product.
"Security is a major portion of this sale, and SeaView will be receiving
an $80-million minimum order to provide cameras, IR floodlights, and control
CPUs. The SecureView concept provides an economical and quick method of adding
quality video."
Col. Larry Hoffman (USA ret.), SeaView National Sales VP, commented: "This
project essentially mirrors the National Guard project here in the US, and the
7th ARCOM contract in Europe. Our first two Guard buildings will get a test
run this month. We are also finding that county and state governments are
interested in the concept. Logis-Tech will install and service all these
systems. The keys to this entire product line are simplicity and economics in
installation. Just like the consumer side, screw in the light bulbs and play
on any TV through the power line."
SEAVIEW HIRES COO
The Company has hired George S. Bernardich III as Chief Operations
Officer. Mr. Bernardich recently retired after 28 years with the JCPenney Co.
Inc. He held several top positions with the company, including Catalog Media
Manager and Buyer positions. He was involved in increasing volume to over $500
million, and received the coveted Catalog Media Manager of the Year award in
1997. Most recently, he was appointed by JCPenney CEO Jim Oesterreicher to
spearhead merchandising projects at Largo, FL-based Eckerd Drug. Bernardich
received his Bachelor of Business Administration degree from Youngstown State
University, graduating Magna Cum Laude in 1977.
"George brings us a wealth of knowledge and contacts in the retail
world," said SeaView CEO Rich McBride. "Plus, we will utilize his management
and distribution experience. SeaView is growing rapidly into a major company,
and we need a strong management team to lead the way. The entire company is
looking forward to working with George.
"I've also picked a final candidate for the CFO position," McBride
continued. "When the employment contract is signed, I'll be making a formal
announcement."
ABOUT SEAVIEW VIDEO TECHNOLOGY INC.
SeaView Video Technology, Inc. manufactures, distributes, and sells marine
and security-related video camera equipment for recreational and commercial
customers worldwide. They are the largest manufacturer of Infrared Underwater
Camera Systems. SeaView Marine Division products are now available through a
Dealer Network of over 800 retail store dealers.
SecureView, the Company's innovative "camera in a light bulb,"
incorporates proprietary IRFS (TM) technology to transmit live video through
the electrical wiring of any home, office, or building. SecureView installs
and sets up quickly and simply, eliminating expensive installation costs,
drilling and cables.
SeaView trades under the OTC BB symbol SEVU, and has applied for a listing
on the American Stock Exchange (the symbol STV has been reserved). Estimated
3rd Quarter 2000 sales increased 1400% over the same period in 1999.
website: www.sevu.com
email: [e-mail]
message board: www.investorshub.com (keyword: SEVU)
Investor Information: McBride & Associates, 727-820-0711
(www.rlmcbride.com)
This press release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, which are intended to be covered
by the safe harbors created thereby. Investors are cautioned that all forward-
looking statements involve risks and uncertainties, including, without
limitation, the ability of SeaView Video Technology Inc. to accomplish its
stated plan of business. Although SeaView Video Technology Inc. believes that
the assumptions underlying the forward-looking statements contained herein are
reasonable, any of the assumptions could be inaccurate, and, therefore, there
can be no assurance that the forward-looking statements included in this press
release will prove to be accurate. In light of the significant uncertainties
inherent in the forward-looking statements included herein, the inclusion of
such information should not be regarded as a representation by SeaView Video
Technology Inc. or any other person that the objectives and plans of SeaView
Video Technology Inc. will be achieved.
SOURCE SeaView Video Technology Inc.
-0- 11/02/2000

/CONTACT: J R Cox, SeaView Video Technology Inc., 727-866-3660, or
email, [e-mail]/
/Web site: http://www.seaviewresearch.com/

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9687 11/02/2000 13:03 EST http://www.prnewswire.com

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