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HAUPPAUGE, N.Y., June 28 /PRNewswire/ -- Audiovox Communications Corp. (ACC), a majority owned subsidiary of Audiovox Corporation (Nasdaq: VOXX) announced today it has signed a twelve-month agreement with Acer Peripherals, Inc. to produce both GSM Dual-Band GSM wireless handsets and other Multi-Band GSM products. "We are implementing a program to increase Audiovox product distribution throughout Europe and Asia," explained Philip Christopher, President and CEO of Audiovox Communications Corp. "The GSM phones to be produced by Acer will be a key component of our international product line." According to Mr. Christopher, Acer Peripherals produced two of Audiovox's current GSM offerings, the GSM-810 and GDX-300, which are sold to various international carriers and other international clients, including Sonofone in Denmark, Telecel in Portugal, and Infonet of Venezuela. He said this is Audiovox's first formal manufacturing agreement with Acer. Audiovox will offer the Dual-Band GSM phones throughout Europe, Africa, Middle East, Asia, Latin America, and the Pacific Rim. Audiovox intends to expand its product line to include Tri-Band, WAP, GPRS units and Smart Phones. According to Louis Antoniou, Vice President, International for Audiovox, "We are fully committed to expand our international business. Our state-of- the-art GSM and CDMA product lines combined with our commitment to offer warranty support and fulfillment services in targeted world regions will allow us to reach our goals." According to Dataquest (YE99), Audiovox ranks second in market share for sales of CDMA wireless handsets and the fourth for sales of all cellular handsets. Audiovox Communications Corp. (ACC), a subsidiary of Audiovox Corporation (Nasdaq: VOXX), is one of the leading suppliers of wireless products with more than 15 years experience in the wireless industry. ACC markets its products under the brand "Audiovox" or private labels for its customer base. ACC has operations and sales offices in 10 countries and through its customer base, markets and distributes product in 42 countries on six continents. Audiovox Corporation is an international leader in the marketing of cellular telephones, auto sound, vehicle security, mobile video systems, and consumer electronics products. The Company conducts its business through two separate marketing groups and markets its products both domestically and internationally under its own brands. It also functions as an OEM (Original Equipment Manufacturer) supplier to several customers. For additional information, please visit Audiovox on the Web at http://www.audiovox.com. Except for historical information contained herein, statements made in this release that would constitute forward-looking statements may involve certain risks such as our ability to keep pace with technological advances, significant competition in the wireless, mobile and consumer electronics businesses, quality and consumer acceptance of newly introduced products, our relationships with key suppliers and customers, market volatility, non-availability of product, excess inventory, price and product competition, new product introductions and other risks detailed in the Company's registration statement on Form S-3, dated February 2, 2000 and in the Company's form 10K for the fiscal year ended November 30, 1999. These factors, among others may cause actual results to differ materially from the results suggested in the forward-looking statements. SOURCE CONTACT: Financial Investor Relations Inquiries
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