press releasesPortalPlayer Building Dedicated Facility to Support Growth in IndiaNew Facility in Hyderabad expected to open in
October 2006 HYDERABAD, India & SAN JOSE, Calif. - Feb. 1, 2006 - PortalPlayer, Inc. (Nasdaq: PLAY), a leading supplier of semiconductor, firmware and software solutions for personal media players and secondary display-enabled notebook computers, announced today that its Indian operations will soon be housed in a dedicated facility in Hyderabad. Designed to support up to 300 employees, the new facility will be located on five acres of land PortalPlayer recently purchased from APIIC (Andhra Pradesh Industrial Infrastructure Corporation) at the IT Park Layout in Nanakramguda Village, Serilingampally Mandal, R.R. Dist., and is expected to be ready by October 2006. "PortalPlayer Hyderabad houses some of the brightest engineers in the world working on portable multimedia technology," said J.A. Chowdary, president and managing director of the PortalPlayer subsidiary in Hyderabad. "This new facility will enable us to double in size, adding to our talented group of software, firmware, and semiconductor engineers." To help support overall company growth, PortalPlayer has organized into three product divisions, each focusing on a different market opportunity - personal media players, personal media displays and personal wireless entertainment. Engineers at the PortalPlayer Hyderabad facility will contribute to core technology and product development across all of these divisions. Currently, the company plans to recruit about 100 employees into the Hyderabad facility in 2006. These new jobs along with the new facility will support the local economy with a total investment by PortalPlayer of approximately $ 5.2 million U.S., excluding land cost. PortalPlayer Pvt. Ltd., the name of PortalPlayer's Hyderabad operation, has operated from Jubilee Hills, India, since 1999. Headquartered in San Jose with major offices in Kirkland, Wash.; Taipei, Taiwan; and Hyderabad; PortalPlayer currently has 284 employees worldwide. "2005 was an outstanding year for PortalPlayer, and the Hyderabad engineers played a great part in that success," said Gary Johnson, president and chief executive officer of PortalPlayer. "We are looking to this site to bring even more exciting innovations that shape the way people view and enjoy their personal digital content." About PortalPlayer PortalPlayer develops semiconductor, firmware and software platforms for portable multimedia products such as personal media players and secondary display enabled notebook computers. PortalPlayer products empower consumers to quickly and easily manage, enjoy and have access to multimedia content and other forms of information. PortalPlayer is headquartered in San Jose, Calif., with offices in Kirkland, Wash., Taipei, Taiwan and Hyderabad, India. Contacts Sheela Panicker Tim Yankey Kim Stowe # # #
Safe Harbor Statement Except for the historical information contained herein, the statements in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements as to the future expansion of the company's operations in Hyderabad, the timing of the opening of the company's new facility in Hyderabad, the company's future hiring and investment plans in the Hyderabad region, and the ability of personnel located at the Hyderabad office to develop innovations that will shape the way people view and enjoy their personal digital content. Words such as "intends," "expect," "believe," "anticipates," "looking to", "plans," "will", "prepare," "increases," "could" and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those discussed in these statements. These risks and uncertainties include, but are not limited to, the ability to recruit and retain qualified personnel in Hyderabad office, the growth of the market for personal media players, cancellation or reduction of orders, component shortages, successful development of new platforms and other products, market acceptance of our products and technologies, including but not limited to acceptance of PortalPlayer's personal media display platform by notebook computer manufacturers, delays in product introductions, product defects, decreases in average selling prices, impact of technological advances, our ability to compete and other risks detailed in our SEC filings, including our Form 10-Q for the quarter ended September 30, 2005. These forward-looking statements speak only as of the date hereof. PortalPlayer disclaims any intent or obligation to update these forward-looking statements. PortalPlayer and the PortalPlayer logo are trademarks of PortalPlayer, Inc. All other trademarks or registered trademarks are the property of their respective owners. |
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