4/15/2002 6:32:00 AM
BOTHELL, Wash., Apr 15, 2002 (BUSINESS WIRE) — Microvision, Inc.
(Nasdaq:MVIS), the leader in personal display and imaging systems today
announced a partnership with The ELEX Group, Inc. (www.elexgroup.com) of
Medford, New Jersey, to provide lease-financing services for business customers
of the Nomad Personal Display System.
The ELEX Group specializes in providing complete lease financing solutions
through web-based technology.
With The ELEX Group, Inc., Microvision will provide customers throughout the
United States with an alternative method to economically acquire the Nomad
Personal Display System, and all related software and hardware components. Tom
Sanko, Microvision vice president of marketing commented, “the program enhances
our current product offering. With a leasing alternative, Microvision can now
provide our customers with a simple and complete turnkey offering for the
acquisition of the Nomad system. The ELEX website quote system makes it easy for
our sales team and resellers to obtain lease quotes and credit approvals on the
spot. Many business customers prefer a leasing option for this type of
equipment, and we are pleased to be able to provide it through The ELEX Group.”
The leasing program is available for both Microvision’s direct sales customers
and customers purchasing from the company’s growing network of Value Added
About Nomad Personal Display System
Based on Microvision’s patented light scanning technology, the recently
introduced Nomad Personal Display System is a high-resolution head-worn display
that presents images and information to the user on a see-through virtual
17-inch display. This unique personal display enables hands-free access to
information such as diagrams, instrumentation, maintenance records, moving maps
and interactive training manuals, superimposing the information on the user’s
view and creating “augmented vision.” The Nomad System features full
daylight-readability, allowing users to view high contrast images in even the
most challenging ambient lighting conditions. High quality, Super VGA resolution
makes the Nomad System immediately compatible with a broad range of existing
applications and content.
From flight paths to factory floors, surgical suites, and more, the Nomad System
can deliver major improvements in productivity, quality and safety for virtually
any type of manual task. The company is targeting applications for workers in
four vertical markets– industrial, aerospace, medical, and military– that
enable customers to keep information in front of people engaged in manual tasks
or on the move, allowing access to information at the point of task and
About Microvision: www.mvis.com
Headquartered in Bothell, WA., Microvision Inc. is the developer of the patented
retinal scanning display technology and a world leader in micro miniature
optical scanning technology for display and imaging applications. The company’s
technology has applications in a broad range of military, medical, industrial,
professional and consumer information products. Nomad is a trademark of
About The ELEX Group: www.elexgroup.com
Since 1974, ELEX has provided capital equipment financing to companies in all
industries across the continental United States. Leasing transactions range from
$10,000 to $5,000,000. ELEX provides financial solutions that will enable
customers to acquire the capital equipment needed to improve their business at
an affordable price. The ELEX vendor alliance programs help vendors create a
competitive advantage, increasing sales and reducing accounts receivable.
Forward Looking Statement
The information set forth in this release includes “forward-looking statements”
within the meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and is subject to the safe harbor created by those sections. Certain
factors that realistically could cause results to differ materially from those
projected in the company’s forward-looking statements are set forth in the
company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as
filed with the Securities and Exchange Commission.
CONTACT: Microvision, Inc.
Matt Nichols (media), 425/415-6657
Brian Heagler (investors), 425/415-6794
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