Subject: Ftp-WG: READRITE FORMS FIBER OPTICS COMPANY!!!!!!!

From: [email-masked]
Date: Wed, 20 Sep 2000 11:23:36 -0500

Read-Rite
launches Scion, a new Fibre
optics company

Read-Rite Corp <RDRT>
said late on Wednesday it has formed a new fibre optics company, Scion Photonics
Inc, with $25 million in initial funding from Tyco Ventures and Integral Capital
Partners. Read-Rite also said it was in discussions with several other
interested parties for more technology and capital investments into Scion.

Scion's business
charter is "to design, manufacture and market high-performance optical
components to the fibre optics communications market," Read-Rite said in a
statement.

Scion will act as a
separate company, but will have access to Read-Rite's resources and
manufacturing infrastructure, Read-Rite chairman Cyril Yansouni said in a
statement. Read-Rite is contributing its Milpitas, California wafer fabrication
plant, technical and management resources and its knowledge and experience in
thin-film technology and materials science to Scion, which will be based in
Milpitas.

Tyco Ventures, the
venture capital unit of Tyco International Ltd. <TYC>, invested $15
million in Scion and also invested $15 million in Read-Rite through a private
placement with the company, Tyco Ventures president Richard Kashnow said in a
statement.

CBS article:

http://cbs.marketwatch.com/archive/20000907/news/current/screamers.htx?source=blq/yhoo&dist=yhoo

For the complete
streaming audio story users should access

http://www.on24.com/index.html?id=36870&type=av&ref=bizwire

ALWAYS DO RESEARCH BEFORE INVESTING IN ANY STOCK!!!