IPS Responds To Fast-Growing Market With New Products

Business Wire, May 19, 1999

MARKHAM, Ontario--(BUSINESS WIRE)--May 19, 1999--

- PROJECTION DISPLAY MARKET SET TO DOUBLE BY YEAR 2004 -

Image Processing Sys (TSE:IPV.) Image Processing Systems Inc. (TSE:IPV) -- under its trade name IPS Automation -- today announced two new products for the fast-growing projection display market.

The ADI 9000 PDT is the first commercially available fully automated projection display tube (PDT) electrical test and inspection system. This system will provide manufacturers of tubes for projection televisions with increased production capacity and a substantially higher quality product by automating the test and inspection process. IPS recently shipped its first ADI 9000 PDT to one of North America's largest PDT tube manufacturers.

The second new product, the ADI 8200 PTV, provides test and alignment functions for makers of projection television (PTV) sets. The ADI 8200 PTV system increases production capacity by automating the convergence and focus alignment procedures during the PTV manufacturing process. IPS has received an initial order from a large Jap in the second quarter.

According to the California-based market research company, Stanford Resources, the projection display industry now comprises a multi-billion dollar market facing rapid and steady growth. Unit shipments are forecasted to more than double from 1.8 million units in 1998 to greater than 4 million units in 2004. This growth is being driven by the demand for rear projection television sets and the high-value business projector segment.

"We are well positioned to respond to these new markets," comments Ken Wawrew, IPS President and CEO. "The flexibility designed into our technology platform as well as the wide range of competencies resident in our engineering team gives us this competitive advantage. Projection displays represent a high-growth market segment for IPS and we are ready to capitalize on new markets as they emerge, including high-definition TV."

IPS Automation is a complete automation systems provider listed on the Toronto Stock Exchange under the symbol IPV and has offices and representatives in Canada, China, Japan, Korea, The Netherlands, Taiwan and the United States. The company's automated display inspection (ADI) systems are recognized as the best in the world for display manufacturers. An ISO 9001 and International Quality Network (IQNET) certified company, IPS also provides advanced inspection solutions for the automotive glass industry and brewing industry, developed in close co-operation with key customers.

Copies of our press releases are available on the IPS website at www.ipsautomation.com.