CEA Statement on Proposed Financial Market Remedies

Business Wire, Sept 26, 2008

ARLINGTON, Va. -- The following statement regarding pending discussions in Washington, D.C., on the proper scope of government involvement in financial markets can be attributed to Consumer Electronics Association (CEA)([R]) president and CEO, Gary Shapiro:

"CEA on behalf of the vibrant technology industry urges the Administration and Congress to agree on a plan which will bring stability and confidence to our capital markets. Our economy depends on corporations and banks lending each other money and confidence needs to be restored so that overnight lending can allow business to continue and payrolls to be met.

"Although CEA has not previously advocated for new government spending, this request today is reflective of the unusual financial environment.

"CEA cautions that any financial package should not reward those who obtained or sold mortgages dishonestly or speculatively and urges that money not be given away for worthless assets but rather given in turn for equity ownership.

"CEA represents the corporate leaders in innovation and believes the U.S. must remain a beacon for inventors around the world. Innovation creates jobs and requires stable capital markets and vibrant free markets that encourage investment. CEA offers its support for government efforts to achieve stability in our financial institutions while protecting taxpayers and capital markets."

About CEA:

The Consumer Electronics Association (CEA) is the preeminent trade association promoting growth in the $173 billion U.S. consumer electronics industry. More than 2,200 companies enjoy the benefits of CEA membership, including legislative advocacy, market research, technical training and education, industry promotion and the fostering of business and strategic relationships. CEA also sponsors and manages the International CES - Where Entertainment, Technology and Business Converge. All profits from CES are reinvested into CEA's industry services. Find CEA online at www.CE.org.

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