Al Shugart International Invests in Blue Sky Research; Bridge Loan in the Amount of $500,000 Marks ASI's First Technology-Based Investment

Business Wire, Dec 7, 1998

SOQUEL, Calif.--(BUSINESS WIRE)--Dec. 7, 1998--Al Shugart International (ASI), a corporation currently involved in searching out technology opportunities, today announced it has made its first technology-based investment in Blue Sky Research, a company that designs, manufactures and markets high-performance electro-optics components and subsystems for the information industry.

The $500,000 investment by ASI is a convertible bridge loan expected to carry Blue Sky Research to its next round of financing.

"We expect optics technology to continue to advance and become more important to the world of information in which we live," said Al Shugart, president of ASI. "The depth of technology and caliber of talented, experienced people at Blue Sky Research led us to this compelling investment."

"We are very excited about the opportunity to bring our ultra-high-speed removable optical drive technology to market," said Dan Hu, president and CEO of Blue Sky Research. "The investment by Al Shugart International is a welcomed participation at this critical point of our company's growth."

About Blue Sky Research

Located in San Jose, Calif., Blue Sky Research was founded in 1989, guided by the principle of transforming innovative concepts into high-performance products. The company designs, manufactures and markets electro-optics components, subsystems and test instruments for industrial, data storage and telecommunications applications. More information on Blue Sky Research can be found on the World Wide Web at www.blueskyresearch.com.

About Al Shugart International

Located in Soquel, Al Shugart International is presently searching out technology opportunities. Founded by Al Shugart in 1998, the company's objectives are to maintain active worldwide awareness of technology status and trends, assist entrepreneurial companies with consulting and/or investment, manage a startup/early stage venture capital fund and operate as a holding company for implementing ideas. Al Shugart International can be found on the World Wide Web at www.alshugart.com.