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CONTACT:
David L. Turney
Chief Executive Officer and Chairman
919-313-3003
[email protected]
In Chicago:
The Investor Relations Company
Tom Laughran
847-564-5610
FOR IMMEDIATE RELEASE
December 19, 2000
DIGITAL RECORDERS EXTENDS WARRANT EXPIRATION DATE
RESEARCH TRIANGLE PARK, NC - Digital Recorders, Inc. (DRI) (NASDAQ: TBUS) a
high-technology microelectronics company and developer of digital communications
systems, today announced it has extended the terms of its 1,265,000 Redeemable
Warrants to Purchase Common Stock (the Warrants) at $7.50 per share. As a result
of the extension, the Warrants may be exercised at any time prior to 5:00 P.M.
Eastern Time on June 29, 2001. All other terms of the Warrants remain unchanged.
DRI develops technologically advanced digital communications systems for transit
and transportation applications as well as digital signal processing equipment
for law enforcement applications. The company's transit and transportation
systems include TALKING BUS(R), an on-vehicle internal voice messaging and
passenger information system, and the TwinVision LeDot(R) Destination Sign
System - a proprietary, electronic external destination sign.
Statements which are not historical facts, including statements about the
companies confidence and strategies and its expectations about new and existing
products, technologies and opportunities, market and industry segment growth,
demand and acceptance of new and existing products are forward looking
statements that involve risks and uncertainties. The risks include, but are not
limited to, product demand and market acceptance risks; the impact of
competitive products and pricing; the effects of economic conditions and trade,
legal, social and economic risks, such as import, licensing and trade
restrictions; the result of the company's business plan and the impact on the
company of its relationship with its lender. Use of words such as "expect",
"expected", "believe", "plan", "anticipate", "would", "goal", etc. are intended
to identify forward looking statements that are subject to the foregoing risks
and uncertainties. Refer to the various SEC filings of the company such as its
10q and 10k for further information about such forward looking statements.
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