BEI Technologies, Inc. Announces Completion of OpticNet Distribution
22 November 2000
BEI Technologies, Inc. Announces Completion of OpticNet DistributionSAN FRANCISCO, Nov. 22 BEI Technologies, Inc. ("the company") announced today the completion of the distribution of the shares of OpticNet, Inc. (OpticNet) to shareholders of record October 30, 2000, according to Charles Crocker, chairman and chief executive officer. The mailing to shareholders on November 21, 2000 included the OpticNet shares and an updated information statement. The information statement is also available on the company's web site http://www.bei-tech.com under "What's New" and "Press Releases". BEI Technologies, Inc. is an established manufacturer of electronic sensors, motors, actuators and motion control products used for factory and office automation, medical equipment, military, aviation and space systems. In addition, sales to manufacturers of transportation equipment including automobiles, trucks and off-road equipment have become a significant addition to the Company's business in recent years. The Company's micromachined quartz yaw rate sensors are being used in advanced vehicle stability control systems and a significant increase in the production of those sensors has been in progress since the middle of 1998. BEI also manufactures electronic steering wheel position sensors, seat-memory modules, throttle position and pressure sensors and other devices used in automotive systems. GyroChip is a registered trademark of BEI Sensors & Systems Company, Inc. Except for historical information, this news release may be deemed to contain forward-looking statements that involve risks and uncertainties, including statements with respect to timely development, acceptance and pricing of new products; impact of competitive products and price; the ability to manufacture products in sufficient volume on an efficient and timely basis; general economic conditions as they affect the Company's customers, as well as other risks detailed from time to time in the Company's reports to the Securities and Exchange Commission, including the Company's Form 10-K Annual Report for fiscal 1999. CONTACT: John LaBoskey, Senior Vice President/CFO of BEI Technologies, Inc., 415-956-4477, or Web, http://www.bei-tech.com .