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EXHIBIT 99.2
DR. MALCOLM CURRIE JOINS GREYSTONE BOARD OF DIRECTORS
SAN DIEGO - June. 15, 2000 -- GreyStone Digital Technology Inc. (OTC BB: GSTN),
today announced that Dr. Malcolm R. Currie has joined the company's Board of
Directors, increasing the number of GreyStone directors to six.
"We are extremely pleased that Dr. Currie has agreed to serve as a director of
GreyStone," said Richard A. Smith, GreyStone's Chairman, President and Chief
Executive Officer. "His impressive technical expertise and remarkable depth of
experience at the highest levels of government, industry and higher education
will add important strength to our board and will supplement the experience of
Alan Stone, Jon Reynolds and Jim Johnston, our other outside directors in the
digital entertainment sector and in consumer and international business. We now
have a very strong team of outside directors to guide the company through the
execution of our strategic growth plans."
As Under Secretary (Director) of Defense Research and Engineering from
1972-1977, Dr. Currie was responsible for all weapons R&D and acquisition
programs for DOD, including formulation, budgeting, execution, and Congressional
approval.
After leaving DOD, Dr. Currie held industry senior management positions for 16
years, which included President, Hughes Missile Systems Company; President and
CEO of Delco Electronics Corp., and Chairman and CEO of Hughes Aircraft Company.
While at Hughes he led the diversification efforts into commercial sectors
including information systems, satellite communications, Direct-TV, digital
communication, commercial avionics, and automotive electronics. He holds
numerous patents and has published papers on microwave tubes, noise theory,
electron and ion beam application, millimeter waves, space propulsion, laser
systems, electro-optics, electric vehicles, and industrial and government
management. He also served as a member of the Defense Science Board from 1980 to
1992. Dr. Currie, holds a Ph.D in Engineering Physics from the University of
California at Berkeley.
Dr. Currie is currently Chairman Emeritus Hughes Aircraft Company; President &
CEO of Currie Technologies, a manufacturer of proprietary electric bicycles, and
is a member and former Chairman of the USC Board of Trustees. He is also
Chairman of the Board of Constellation Communications (satellite communications)
and serves as a director on the boards of Investment Co. of America (mutual
fund), LSI Logic (semiconductors) (NYSE:LSI), Moltech Corp. (advanced
batteries), Inamed (medical devices) (Nasdaq-NM:IMDC), and the California
Council Science & Technology. Previously he served on the board of UNOCAL
(NYSE:UCL).
He has received numerous domestic and foreign distinguished honors and awards,
which include the NASA Distinguished Service Medal, Goddard Astronautics Award,
the Defense Department's Distinguished Public Service Medal, and individual
awards from the Army, Navy and Air Force. He is a Fellow, American Academy of
Arts and Sciences, a Fellow, Institute of Electrical and Electronic Engineering,
a Fellow, Royal Aeronautic Society, Great Britain, and holds the French Legion
de Honneur (Commandeur).
Based in San Diego, Calif., GreyStone Digital Technology's goal is to position
itself as a leading provider of applications of advanced digital technology that
customers use to help people solve problems, communicate, and improve their
lives, businesses, products, and services. The company has a long history of
providing powerful real-time, interactive and networked 3-D digital software and
systems for defense customers and they have applied this experience in the
development of products for entertainment markets. GreyStone's products and
services address a growing demand from military, entertainment, law enforcement,
and other major markets such as education, wireless communications, the
Internet, e-commerce, and e-services for improved ways to access and use digital
information.
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More information is available on the company's website at http://www.gstone.com.
This news release contains statements that are not purely historical, and as
such are forward-looking statements under the federal securities laws. These
include forward-looking statements regarding management's intentions, plans,
hopes, beliefs, expectations or projections of the future. These forward-looking
statements involve risks and uncertainties, including without limitation,
acceptance of the company's products and services; additional financing
requirements; the impact of competitive products or pricing; technological
changes; the effect of economic conditions; the ability to successfully
commercialize the company's entertainment products; the company's dependence on
key engineering, technical, and other personnel skilled in government
contracting; the ability of the government to terminate contracts and
subcontracts at any time; and other risks and uncertainties detailed from time
to time in the company's reports filed with the Securities and Exchange
Commission. One or more of these factors could affect the company's business and
financial results in future periods, and could cause actual results to differ
materially from plans and projections. There can be no assurance that the
forward-looking statements made in this news release will prove to be accurate,
and issuance of such forward-looking statements should not be regarded as a
representation by the company, or any other person, that the objectives and
plans of the company will be achieved. All forward-looking statements made in
this news release are based on information presently available to management,
and the company assumes no obligation to update any forward-looking statements.
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