Symbol Technologies and PSC Resolve Pending Litigations and Sign Cross Supply Agreements

Business Wire, Nov 20, 2000

Business Editors

HOLTSVILLE, N.Y. & WEBSTER, N.Y.--(BUSINESS WIRE)--Nov. 20, 2000

Symbol Technologies, Inc. (NYSE: SBL) and PSC Inc. (Nasdaq: PSCX) announced today that they have entered into a global settlement which resolves all litigation and disputes pending between the parties.

The parties also entered into product supply agreements for products that will begin shipping in approximately one year. Under the terms of the supply agreements, PSC has agreed to purchase hand-held laser scanners and scan engines from Symbol. Symbol has agreed to purchase fixed-position retail point-of-sale scanners from PSC.

The agreements resolve all litigation between the parties, settle all disputed royalty payments, and uphold the patents asserted by Symbol. In addition, the parties have also amended and clarified PST's existing license agreement and included certain new patents.

"I am pleased that we have settled our differences and have moved forward with a resolution where both companies can devote themselves to their respective businesses and avoid the distraction of litigation," said Tomo Razmilovic, president and CEO, Symbol Technologies. "The nature of the settlement creates a win-win situation for the two companies and our respective customers."

"The settlement with Symbol removes a cloud of uncertainty that I believe has concerned PSC's investors and depressed the Company's market valuation," said Robert S. Ehrlich, PSC Chairman of the Board and interim Co-Chief Executive Officer. "We can now focus on PSC's core business and give our complete attention to providing new and better solutions for our customers and strengthening results for shareholders."

About Symbol Technologies, Inc.

Symbol Technologies, Inc., winner of this year's National Medal of Technology, is a global leader in mobile data transaction systems, providing innovative customer solutions based on wireless local area networking for data and voice, application-specific mobile computing and bar code data capture. Symbol's wireless information appliances connect the physical world of people on the move, packages, paper and shipping pallets, to information systems and the Internet. Today, some 10 million Symbol bar code scanners, mobile computers and wireless LANs are utilized worldwide in markets ranging from retailing to transportation and distribution logistics, manufacturing, parcel and postal delivery, government, healthcare and education. Symbol's systems and products are used to increase productivity from the factory floor to the retail store, to the enterprise and out to the home. Information about Symbol is available at www.symbol.com and 1-800-722-6234.

About PSC Inc.

PSC Inc. is a leading manufacturer and marketer of bar code scanning and automatic data collection solutions of the highest quality and exceptional reliability. Its broad range of products includes a full line of laser and non-laser based handheld and fixed position bar code scanners, two dimensional image readers, wireless portable data terminals, warehouse management software, bar code scan engines and verifiers and automated carton dimensioning systems. These products are used in automated data collection solutions in the retail, manufacturing, warehousing, logistics and package handling markets. Headquartered in the Rochester, New York suburb of Webster, PSC has manufacturing facilities in Webster and Eugene, Oregon. PSC has sales and service offices throughout the Americas, Europe, Asia and Australia. Further information is available at www.pscnet.com and 1-800-828-6489.