Under terms of the agreement announced at the Waldorf Astoria in New York, Hitachi will manufacture and sell the product and OEM it to Xybernaut, who will also sell and market it. Xybernaut will begin shipping the WIA to US markets before Christmas with pricing under $2,000 depending upon the configuration.

A newly developed superscale Hitachi 32-Bit 128 MHz RISC processor with companion coprocessor will power the 10.9-ounce WIA and will run Microsoft’s Windows CE 3.0. The WIA incorporates a Compact Flash slot, USB port, 32 MB of RAM and a removable internal rechargeable battery. The WIA provides users with instant on/off Internet access and a SVGA (800×600) head mount display that provides a desktop-like viewing experience. The new hands-free PC can be worn while on public transportation, in the office, shopping or relaxing at home. Hitachi will provide the WIA to Xybernaut under terms of the agreement signed June 30, 2001.

Among the suite of services that Xybernaut will target for the new product will be entertainment in the form of distance learning, music, video and games, GPS, cellular voice communications and paging, interactive banking, shopping, and stock market trading.

Hitachi is very pleased to enter into this close relationship with Xybernaut, the leader in wearable computing, said Shigeru Matsuoka, CEO of Net-PDA Venture Company, Hitachi, Ltd. We expect that our new product line will completely change the way people live, work and play. The applications we envision will offer up all kinds of new business opportunities. Our current partners and clients, as well as our future partners, subscribers and consumers alike will find that our products enrich their lives.

Hitachi’s reputation and reach in the consumer space, as well as in the commercial and industrial sectors is unparalleled, stated Edward G. Newman, chairman, president and CEO of Xybernaut Corporation. We are excited to have Hitachi as a partner in developing the light commercial and consumer markets, which we expect will grow rapidly on a worldwide basis, particularly with increases in wireless bandwidth. We fully expect that Hitachi will be very successful in these markets, and that both companies will benefit greatly from this success.

SOURCE: COMPANY PRESS RELEASE