ISNT THERE AN SEC FORM THESE TWO NEED TO FILL OUT?
"Rich McBride, company founder, and George S. Bernardich III, CEO, recently purchased over 100,000 shares of SEVU common stock on the open market, reinforcing their confidence in the growth and success of the company."
SeaView Joining HomePlug, Filling Backorders
ST. PETERSBURG, Fla.--(BUSINESS WIRE)--May 11, 2001--SeaView Video Technology, Inc. (OTCBB:SEVU) (www.sevu.com) announced today that the Company has been accepted for membership in the HomePlug Powerline Alliance, Inc. According to VP J. R. Cox, a memo from HomePlug, Inc. stated, "We are pleased to acknowledge that the HomePlug Powerline Alliance, Inc. (HomePlug) has received your application for membership. The organization recognizes your valuable input and support, and we look forward to your participation." SeaView's membership in this alliance will allow "significant interaction," Cox said, with such key sponsors of HomePlug, Inc. as Motorola, Cisco Systems, Inc. and Panasonic.
As SecureView production and fulfillment continues to ramp up, the Company is re-confirming the $9 million in backorders with customers and dealers, to process for shipping. "In the last four days, we have shipped $40,034 in SecureView credit card orders. Also, we have already received reorders from SuperCircuits, Inc. and View-It Security of Arizona. SecureView systems are now listed and published in SuperCircuits, Inc. catalogs," said George S. Bernardich III, CEO.
SeaView marine sales continue briskly as the Spring Fling pricing promotion ended April 30, 2001 for SeaView's 700-plus independent dealers. Christy Mutlu, VP Sales & Marketing, said: "To keep the momentum going, we announced and launched a Dealer Summer Sales Contest, with one lucky dealer winning a trip to Walt Disney World in Orlando, FL."
The R&D team has responded to several requests for utilizing SecureView cameras for parking-lot surveillance. The inquiries followed the recent report by CBS-TV's "60 Minutes" on security problems outside stores and malls. The SecureView camera is placed on parking-lot light poles, transmitting video back inside the store via the existing electrical wiring. The wide-angle cameras replicate a standard PAR-38 floodlight, and will have a signal range of up to one-half mile. Costing dramatically less than other CCTV systems, SecureView installations are quickly achieved without additional wiring. Maintenance is also simpler, since local electrical contractors can replace the units instantly, simply by screwing in another "bulb." The number of cameras deployed is limited only by the monitoring equipment. Current designs, accommodating up to 32 cameras, store the information digitally on a hard disk.
Rich McBride, company founder, and George S. Bernardich III, CEO, recently purchased over 100,000 shares of SEVU common stock on the open market, reinforcing their confidence in the growth and success of the company.
ABOUT SEAVIEW VIDEO TECHNOLOGY INC.
SeaView Video Technology, Inc. manufactures, distributes, and sells marine, medical, and security-related video camera equipment. They are the largest manufacturer of Infrared Underwater Camera Systems. 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. SecureView DC(tm) uses the same principles to transmit live video through the electrical systems of vehicles, trucks, buses, ships, and railway rolling stock. A version of IRFS capable of LAN/WAN data transmission over power lines has also been introduced. The Company's marine and security products are GSA listed. Its technology is covered under 14 patents granted and two patents pending.
SeaView trades under the OTC BB symbol SEVU.
website: www.sevu.com email: info@sevu.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.
CONTACT:
SeaView Video Technology, Inc., St. Petersburg
J R Cox, 727/866-3660
email: info@sevu.com
KEYWORD: FLORIDA
BW2224 MAY 11,2001
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