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Hi-Val, Inc. Acquired by IOM Holdings

Merger Positions Hi-Val for Market Expansion

SANTA ANA, Calif.--(BUSINESS WIRE)--June 14, 1999--Hi-Val, Inc., an award winning supplier of multimedia solutions, has been acquired by IOM Holdings of Nevada.

The acquisition is effective June 10th and will enable Hi-Val to leverage its considerable distribution channels and buying power, providing maximum value to customers.

The companies expect to increase staffing at Hi-Val's Santa Ana facility and pursue the opening of a satellite sales office in the region. Hi-Val will continue to market its value-based line of DVD drives, modems, CD-ROM drives and other multimedia peripherals. Both IOM Holding and Hi-Val will also discuss the addition of new products to the Hi-Val family.

"This acquisition is a powerful union of two industry leaders and will result in added market share for the Hi-Val brand," says Mark Vakili, President and CEO of Hi-Val. "It is imperative that aggressive relationships such as this be formed in order for us to position the company for long-term success."

"Hi-Val, with its well known value-oriented brand and broad distribution, was an ideal acquisition for us," says Ms. Mei Hsu, Executive Vice President of IOM Holdings. "The combination of Hi-Val and IOM Holdings will position both companies to maximize the market opportunity and provide value to consumers."

Hi-Val, Inc. is one of the fastest growing high-tech companies in the USA. Hi-Val is located in Santa Ana, California and offers a wide range of multimedia solutions. Hi-Val combines the latest quality, 40X, 48X, 50X, 56X CD-ROM drives, DVD-3 and DVD-RAM with the highest quality soundcards and top selling CD software. Other categories also a part of Hi-Val's expanding product line include a variety of CD-Recorders, CD Changers, DVD-ROM drives, graphics accelerators, wireless products, modems and software applications. For press information please contact Ray Vincenzo of Imagio Public Relations, at 206/625-0252 or [email protected]. Additional sales information may be obtained by contacting Hi-Val at 714/953-3000 or http://www.hival.com.


Contact:
     Imagio Public Relations
     Ray Vincenzo, 206/625-0252
     [email protected]



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