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European data storage specialists launch new business

Lapis Solutions, which specialises in the design and manufacturer of high-performance and cost-effective RAID solutions, today announced the formation of a new company called LapiStor Ltd and a substantial investment in that company by transtec, one of the ten largest manufacturers of server and storage solutions in Europe.

June 3, 2004 -- Lapis Solutions, which specialises in the design and manufacturer of high-performance and cost-effective RAID solutions, today announced the formation of a new company called LapiStor Ltd and a substantial investment in that company by transtec, one of the ten largest manufacturers of server and storage solutions in Europe.

transtec, based in Germany' has purchased 44 per cent of the shares in the new company, based in the UK - which will thus benefit directly from a major injection of capital and access to new markets.

Managing Director of LapiStor, Tony Howard, said "We are absolutely delighted by this major endorsement of our technology and market strengths and the opportunities which are being opened up to us as a result of transtec making such a significant commitment to the success of our business.

"In future, we will focus our marketing efforts upon projecting the new name of LapiStor - a name which is more closely aligned to the markets we serve - rather than the name of Lapis Solutions. We will leverage the enlarged financial base that LapiStor will enjoy and its extensive range of new business contacts, in order to give our customers an even better deal in terms of bringing new products and technologies to market at highly competitive prices.

"transtec has been a valuable customer of ours in the past and we look forward to benefiting from this new closer relationship which will not only bring us greater financial strength and business connections but will also give us access to their technological strengths."

About Lapis Solutions
Lapis Solutions is a UK based company with a strong international outlook that specialises in the design and manufacturer of high-performance and cost-effective RAID solutions for markets worldwide. The company, which is a member of SNIA Europe, is noted for its comprehensive capability which enables it to provide reliable storage solutions - based on specialist
expertise.

Lapis designs solutions that exploit both IDE and S-ATA drives for value, and Fibre Channel and SCSI drives for performance and scalability. The company's wide range of products is often used to expand storage capacity in SAN environments or can be directly attached to servers (DAS/SAS) and is designed for four to 21 Bay enclosures.Its RAID units are used not only in IT departments and networks, but also in specialist roles, including CCTV, telecommunications, ISPs, Seismic recording, and Voice recording.

The company designs and builds its own branded solutions, which include the StorPac, DataPac and DiskPac range of products. In addition, as a bespoke sub-contractor, Lapis Solutions, also, designs and builds data storage solutions for OEMs, Value Added Integrators and Solution Providers. The company offers full customer branding of the product, including packaging, manuals, logos and GUI. An important area of activity within the company is the provision of engineering services to OEM and other customers in the design of their own RAID solutions.