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February 4, 1999

PANDA PROJECT GETS $1M LIFELINE FROM SAMTEC INC

By CBR Staff Writer

The Panda Project Inc, now a semiconductor packaging technology firm, has licensed its VSPA low-cost surface mount semiconductor technology to Samtec Inc. In return, Samtec has taken an equity stake in struggling Boca Raton, Florida-based Panda, which was de-listed from the Nasdaq exchange last month. Samtec is paying $500,000 for a license fee, and will also pay Panda royalties related to sales of VSPA technology. Another $500,000 pays for 666,667 shares of Panda common stock, now being traded over the counter. Samtec is a privately-held New Albany, Indiana-based manufacturer of PC board-level interconnects, which claims worldwide revenues of $125m. Panda sold off its hardware interests last year to concentrate on semiconductor packaging.

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