Far-East Rights to the Amiga Acquired by Lotus Pacific

Note from the Amiga Web Directory staff: we were just a little confused by this press statement when it first appeared a few days ago. It describes the sale of Amiga intellectual properties (patents, trademark assignments, etc.) from a company named Rightiming Electronics Corp. to Lotus Pacific, two New Jersey-based companies with strong Far East business ties. What confused us was that there was no mention of Gateway 2000 or Amiga International.

We now have word from one knowledgeable source that a pre-existing contract between Escom AG and Rightiming assigned these rights to Rightiming for the Far East market in 1995 (a short blurb about this appeared in Amiga Report #408). Some Amiga users are now asking questions about just what exactly Amiga International/Gateway 2000 controls as it relates to Amiga intellectual properties and how far its exclusivity extends geographically, or otherwise.

An unusual piece of news, nonetheless.

Lotus Pacific Makes Announcement

PISCATAWAY, N.J.-- July 18, 1997--Lotus Pacific, Inc., a public company listed on NASDAQ Bulletin Board, announced today that its direct subsidiary Regent Electronics Corp., entered into a Purchase Agreement with Rightiming Electronics Corp., a New Jersey based high-tech company, to acquire certain technology related assets and rights for an aggregate consideration of US $5,000,000 (five million US dollars) and 8,000,000 (eight million) shares of Common Stock of Regent Electronics Corp.

The acquired assets include all Commodore-Amiga's patents, licenses, trademarks, and copyrights to be registered and used in China, Taiwan, Hong Kong, Macao and the bordering countries between China and the former Soviet Union. Over the past year Rightiming successfully developed a multi-media and multi-functional TV set top box. It was brand named as Wonder TV A-6000. This product features an all-in-one box system with combined functions of a multi-media personal computer, a fax machine, a Karaoke machine an Internet box, an audio CD player, a video CD player and an electronic game machine. Patents for this multi-media and multi-functional TV set top box are being registered in China.

The acquisition decision, by the management of Lotus Pacific, Inc. is to produce and market a home use electronics product similar to Web-TV in China and other countries in Asia Pacific. The market potential for this new home electronics product is believed to be tremendous in the Far East.

Lotus Pacific, Inc. is a public company traded on the NASDAQ bulletin board under the symbol of LPFC. Its Internet website is at http://www.lpfc.com/

Contact:

Lotus Pacific Inc., Pascataway
David Fei, 732/885-0600

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