ATLANTA, Aug. 22 /PRNewswire/ --
PNI Technologies, Inc. (OTC Bulletin Board: PNLG) ("PNI"), formerly known as
Preferred Networks, Inc. a developer and supplier of advanced communications
networking products and a leading provider of network services to the wireless
industry, today reported that it has changed its Nasdaq symbol from "PFNT" to
"PNLG". PNI has adopted the new symbol to coincide with the changing of its
corporate name, which was announced on August 16th, 2000.
PNI's origins as a network service provider led it to develop a number of
advanced networking technologies that provide greater processing efficiencies,
network cost savings, and an open platform for unified Internet-wireless
service offerings. Recognizing a significant market opportunity in bringing
these same powerful solutions to other companies, PNI has begun to introduce
hardware and software products that incorporate these technologies. Since
January 2000, PNI has started to ship its first three networking products to
customers: the iTerminal(TM) desktop product that enables Internet transport
of wireless messaging traffic; the iLink Internet TNPP router; and the
Platform1(TM) high-speed, intelligent, modular switch. PNI plans to introduce
additional applications that will address Internet service providers ("ISPs"),
competitive local exchange carriers ("CLECs"), two-way wireless data and voice
carriers, and private networking companies.
PNI will showcase its networking products at the 2000 Personal
Communications Industry Association Global Xchange (PCIA) Show in Chicago in
late September. The 2000 show marks the first in which PNI will have its own
display booth, which will include PNI's currently selling iTerminal(TM),
iLink, and Platform1(TM) products, as well as demonstrations of new
applications and modules in development. Last September at the 1999 PCIA show
in New Orleans, PNI demonstrated the prototype for its Platform1(TM) products.
PNI's booth at the 2000 PCIA show will be #1925.
About PNI Technologies, Inc.:
PNI Technologies, Inc. is a developer and supplier of advanced networking
hardware and software products for companies that operate in the wireless,
fixed network and Internet marketplaces. These products provide companies
with greater processing efficiencies, cost savings, and an open platform to
bring them closer to their customers through unified service offerings. PNI
also owns and operates one-way wireless messaging networks in the Eastern
United States and provides unbranded, wholesale network services to companies.
PNI's address on the World Wide Web is: http://www.pni.net .
Safe Harbor Statement:
Safe Harbor Statement Under the Private Securities Litigation Reform Act
of 1995: The statements contained in this release which are not historical
facts, are forward-looking statements that are subject to risks and
uncertainties, including those identified in PNI's 1999 Annual Report on Form
10-K and subsequent quarterly reports on Form 10-Q, and actual results could
differ materially from those anticipated in the forwarding-looking statements.
Certain information included in this release contains statements that are or
will be forward-looking. Such forward-looking information involves important
risks and uncertainties that could significantly effect anticipated results in
the future and, accordingly, such results may differ from those expressed in
any forward-looking statements made by or on behalf of PNI. These risks and
uncertainties include, but are not limited to, risks related to technological
change in the wireless industries; risks associated with PNI's efforts to
commercialize and market successfully its networking products, such as the
Platform1(TM) and iTerminal(TM) products; the relatively unproven nature of
PNI's networking products, which represent a new product line for PNI; and
challenges to PNI's technologies (such as challenges to the validity of
patents on PNI's switching technology). PNI operates in a highly competitive
marketplace and new product developments by competitors can occur at any time,
thereby diminishing the attractiveness of PNI's products.
SOURCE PNI Technologies, Inc.
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Related links:
http://www.pni.net
Company News On-Call:
http://www.prnewswire.com/comp/109794.html or fax,
800-758-5804, ext. 109794
CONTACT:
Kathryn Loev Putnam, Senior Vice President
and Chief Financial Officer of PNI Technologies, Inc.,
770-582-3507
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