FREMONT, Calif., Oct. 4, 1995 -- href="chap11.media.html">Media Vision Technology
Inc. (OTC BULLETIN BOARD: MVSN) announced today that G. Robert
Brownell, is stepping down from his post as Chief Executive Officer,
effective October 6th. He will continue in his role as a member of
the board of directors. Brownell joined the firm in March of 1994
as Vice President of Sales and took over as CEO in May of the same
year. He led the company through Chapter 11 bankruptcy
reorganization in 1994 and the divestiture of its retail PC upgrade
products operation this year. This divestiture was undertaken to
allow the company to focus on its core assets - audio semiconductor
technology and design.
"The last 18 months have been a very important time for Media
Vision, and I believe we have now successfully transitioned this
company to a direction where it can take full advantage of its
technology resources," said Bob Brownell. "The transition has been
challenging and I am pleased to have been a part of it. I look
forward to my continued participation with this new company, as a
member of the board of directors."
"We want to thank Bob for his tremendous efforts in leading the
company through this very difficult time," said Richard Masson,
speaking for the board of directors. "His leadership skills have
been invaluable in setting the future direction for this company,
and we look forward to his continuing involvement as a member of the
board."
The company is currently conducting a search for an individual
to fill the CEO role as the company completes its transition from a
retail products company to a semiconductor technology firm.
In the interim, the company has formed an Office of the
President, comprised of three of the company's senior managers,
Brendan O'Flaherty, General Counsel; David Domeier, Chief Financial
Officer, and Andy Rappaport, General Manager of Semiconductor
Operations.
Media Vision is focusing its resources on developing a family of
integrated component solutions aimed at setting the standard for the
next generation of PC sound. The hardware and software components
under development are designed to leverage Media Vision's audio
synthesis technology and experience in multimedia system design to
provide significantly enhanced PC sound solutions. Media Vision is
developing semiconductor technology, which it hopes will enable PC
OEM's to construct cost efficient systems to support the new sound
functions enabled by Windows 95 and coming generations of CPU and
motherboard I/0 designs, as well as supporting legacy audio
requirements. Initial shipments of certain of Media Vision's new
semiconductor audio solutions are currently scheduled to occur in
early to mid-1996.
/CONTACT: Editor and Shareholder Contact: Sher Hoff, Shareholder
Relations, of Media Vision, 510-252-4582; or Investor/Financial
Analyst
Hotline, 510-770-8600, ext. 2424/