This one had a nice piece of news today announcing a contract with the government (see below). It went as high as .63 on news and has pulled back to the low to mid .4's now. There is a lot more potential in this one to run more this afternoon and tomorrow. @ bought on the pullback @.43 ***************************** BURLINGTON, Mass., Apr 6, 2004 /PRNewswire-FirstCall via COMTEX/ -- Ezenia! Inc., a leading market provider of real-time collaboration solutions for corporate and government networks and eBusiness, announced today that the United States Government has awarded the Company an NRE (Non-Recurring Engineering) development contract, which will enhance and add key features to the InfoWorkSpace product line. This project builds upon the strength of the security attributes of InfoWorkSpace to increase its security rating and certification from Protection Level 2 (PL2) to Protection Level 3 (PL3). The new and improved InfoWorkSpace, with PL3 security enhancements and additional features, will facilitate cross-domain collaboration in a multi-level security environment, providing the most advanced set of online capabilities on the market today. The final version of the contract was approved, signed, and awarded in the Fall of 2003, and work to provide these enhancements is well underway. "InfoWorkSpace has been successfully utilized in the US military's fight to combat terrorism around the globe. With its proven functionality, cost effectiveness, stability, scalability, and most importantly, security, InfoWorkSpace was well suited to win this government contract as well," said Michael LeJeune, Director of Sales, Marketing, and Business Development for Ezenia! Inc. "Ezenia is proud to be selected as the recipient of this request to provide a vital component of collaboration technology in our nation's campaign to combat terrorism and strengthen our homeland security. We are truly honored to receive such a significant investment and endorsement from the U.S. Government. We believe these product enhancements are just as important for potential customers outside of the Federal market, so the benefits of this award are consistent with our ongoing move to pursue opportunities for InfoWorkSpace in the commercial marketplace in the near future." The first two major phases of this project were recently delivered to the U.S. Government as a part of InfoWorkSpace Version 2.5.1.1, which has already been certified as a JITC-approved interoperable enhancement. It is also expected that InfoWorkSpace Version 3.0, the next major software release targeted this spring, will include such PL3 security enhancements. This NRE development contract, with a total award value of approximately $2.1M, concludes with a final deliverable later in 2004. Under US Generally Accepted Accounting Principles (GAAP), the Company will account for amounts earned under this award as revenues from customer services, with any related costs to complete the work as a direct cost of these services. The Company believes that these development enhancements will prove beneficial in positioning InfoWorkSpace as a viable alternative for other enterprise-wide deployments of collaborative software within various organizations of the U.S. Government, as well as other potential commercial applications noted above. About Ezenia! Inc. Ezenia! Inc. (EZEN, Trade), founded in 1991, is a leading provider of real-time collaboration solutions, bringing new and valuable levels of interaction and collaboration to corporate networks and the Internet. By integrating voice, video and data collaboration, the Company's award-winning products enable groups to interact through a natural meeting experience regardless of geographic distance. Ezenia! products allow dispersed groups to work together in real-time using powerful capabilities such as instant messaging, white boarding, screen sharing and text chat. The ability to discuss projects, share information and modify documents allows users to significantly improve team communication and accelerate the decision- making process. More information about Ezenia! Inc. and its product offerings can be found at the company's Web site, http://www.ezenia.com/. Note to Investors Statements included herein that are not historical facts include forward- looking statements. Such forward-looking statements involve risks and uncertainties that could cause actual operating results to differ from those indicated by such forward-looking statements. These risks and uncertainties include the considerations that are discussed in the Management's Discussion and Analysis section of the Company's 2003 Annual Report on Form 10-K for the year ended December 31, 2003, such as the evolution of Ezenia!'s market, its dependence on major customers, rapid technological change and competition within the collaborative software market, its reliance on third party technology, protection of its propriety technology, its history of liquidity concerns and operating losses, and other considerations that are discussed further in this report. Copies of the Company's 2003 Annual Report on Form 10-K for the year ended December 31, 2003, or other publicly available financial information, may be received at no charge by contacting Investor Relations at Ezenia!. Note: Ezenia! is a registered trademark, and the Ezenia! Logo, Encounter, InfoWorkSpace and LaunchPad are trademarks of Ezenia! Inc. Additional information on Ezenia! and its products are available at http://www.ezenia.com/. All other trademarks are property of their respective companies. Contact: Ezenia! Inc. Investor Relations (781) 505-2100 investorrelations@ezenia.com SOURCE Ezenia! Inc. Investor Relations of Ezenia! Inc., +1-781-505-2100, investorrelations@ezenia.com http://www.ezenia.com
