Radyne ComStream Closes Asset Purchase of Tiernan Communications, Inc.

Apr 19, 2001, 01:00 ET from Radyne ComStream

    PHOENIX, April 19 /PRNewswire/ -- Radyne ComStream (Nasdaq: RADN, RADNW)
 today announced the purchase of all assets of Tiernan Communications, Inc., by
 Tiernan Radyne ComStream, Inc., a wholly owned subsidiary of Radyne ComStream.
 The Company obtained the assets for $3.9M in cash at a private foreclosure
 sale conducted at the premises of Tiernan Communications, Inc.  This
 transaction and the additional assets will provide Radyne ComStream with a
 greatly enhanced product line in the distribution of television programming
 via satellite and terrestrial networks and Internet applications.
     "The integration of Tiernan's product lines and additional sales channels
 will provide Radyne ComStream with a competitive advantage in the digital
 video and Internet over satellite marketplaces," said Bob Fitting, Radyne
 ComStream CEO.  "We can now provide our customers with virtually any solution
 to fulfill their broadcast, transmission and media requirements."
     Tiernan Communications, Inc., a leader in digital television compression
 and transmission solutions, had revenues of approximately $13 Million in 2000
 and pre-tax losses were approximately $9 Million.  Their customer base
 included major television networks, broadcasters, common carriers, and
 suppliers of Satellite newsgathering systems.  Product lines that were
 included in the assets include Standard Digital TV Encoders, High Definition
 TV encoders, and ATM video network adaptors as well as Integrated
 Receiver/Decoders.
     The new subsidiary, Tiernan Radyne ComStream has offered employment to
 essentially all the former Tiernan Communications employees.
 
     About Radyne ComStream
     Radyne ComStream designs, manufactures, and markets satellite
 Internet-infrastructure equipment as well as satellite broadband modems,
 multicasting receivers, converters and ancillary products for digital TV, data
 and telephone service.  They also specialize in innovative solutions for the
 integration and installation of turnkey communications systems.  The company
 has offices in the U.S. located in Phoenix, San Diego and Boca Raton, and
 internationally in Singapore, Beijing, Jakarta and London.  The company also
 has sales and/or service centers in New York, Rio de Janeiro, Bangalore,
 Shanghai and Moscow.  For more information visit our web site at
 www.radynecomstream.com.
 
     Safe Harbor Paragraph for Forward-Looking Statements
     This press release includes statements that constitute "forward-looking
 statements" within the meaning of the Private Securities Litigation Reform Act
 of 1995 (the "Reform Act") and Radyne ComStream claims the protection of the
 safe-harbor for forward-looking statements contained in the Reform Act.  These
 forward-looking statements are often characterized by the terms "may,"
 "believes," "projects," "expects," or "anticipates," and do not reflect
 historical facts.  Specific forward-looking statements contained in this press
 release include, but are not limited to, expected benefits of the acquisition,
 such as the expansion of the Company's capabilities and the potential for
 increased growth.  Forward-looking statements involve risks, uncertainties and
 other factors that may cause actual results, performance or achievements of
 Radyne ComStream and its subsidiaries to be materially different from those
 expressed or implied by such forward-looking statements.  Factors that could
 affect Radyne ComStream's results and cause them to materially differ from
 those contained in the forward-looking statements contained herein include,
 without limitation, the possibility that the Company will not be able to
 successfully integrate the Tiernan assets into the Company's operations or
 that the acquisition will not expand the Company's capabilities in the
 satellite industry or provide the other benefits anticipated.  Other factors
 that may affect forward-looking statements and the Company's business
 generally include but are not limited to:
     --  Prospects of the international markets and global economy and
         uncertain growth potential of developing markets given that Radyne
         ComStream depends heavily on international sales.
     --  Product obsolescence due to the rapidly changing technologies.
     --  A downturn in the evolving telecommunications and Internet industries.
     --  Risk factors and cautionary statements made in Radyne ComStream's
         Annual Report on Form 10-K for the period ending December 31, 2000.
     --  Other factors that Radyne ComStream is currently unable to identify or
         quantify, but may exist in the future.
 
     Forward-looking statements speak only as of the date the statement was
 made.  Radyne ComStream does not undertake and specifically declines any
 obligation to update any forward-looking statements.
 
 

SOURCE Radyne ComStream
    PHOENIX, April 19 /PRNewswire/ -- Radyne ComStream (Nasdaq: RADN, RADNW)
 today announced the purchase of all assets of Tiernan Communications, Inc., by
 Tiernan Radyne ComStream, Inc., a wholly owned subsidiary of Radyne ComStream.
 The Company obtained the assets for $3.9M in cash at a private foreclosure
 sale conducted at the premises of Tiernan Communications, Inc.  This
 transaction and the additional assets will provide Radyne ComStream with a
 greatly enhanced product line in the distribution of television programming
 via satellite and terrestrial networks and Internet applications.
     "The integration of Tiernan's product lines and additional sales channels
 will provide Radyne ComStream with a competitive advantage in the digital
 video and Internet over satellite marketplaces," said Bob Fitting, Radyne
 ComStream CEO.  "We can now provide our customers with virtually any solution
 to fulfill their broadcast, transmission and media requirements."
     Tiernan Communications, Inc., a leader in digital television compression
 and transmission solutions, had revenues of approximately $13 Million in 2000
 and pre-tax losses were approximately $9 Million.  Their customer base
 included major television networks, broadcasters, common carriers, and
 suppliers of Satellite newsgathering systems.  Product lines that were
 included in the assets include Standard Digital TV Encoders, High Definition
 TV encoders, and ATM video network adaptors as well as Integrated
 Receiver/Decoders.
     The new subsidiary, Tiernan Radyne ComStream has offered employment to
 essentially all the former Tiernan Communications employees.
 
     About Radyne ComStream
     Radyne ComStream designs, manufactures, and markets satellite
 Internet-infrastructure equipment as well as satellite broadband modems,
 multicasting receivers, converters and ancillary products for digital TV, data
 and telephone service.  They also specialize in innovative solutions for the
 integration and installation of turnkey communications systems.  The company
 has offices in the U.S. located in Phoenix, San Diego and Boca Raton, and
 internationally in Singapore, Beijing, Jakarta and London.  The company also
 has sales and/or service centers in New York, Rio de Janeiro, Bangalore,
 Shanghai and Moscow.  For more information visit our web site at
 www.radynecomstream.com.
 
     Safe Harbor Paragraph for Forward-Looking Statements
     This press release includes statements that constitute "forward-looking
 statements" within the meaning of the Private Securities Litigation Reform Act
 of 1995 (the "Reform Act") and Radyne ComStream claims the protection of the
 safe-harbor for forward-looking statements contained in the Reform Act.  These
 forward-looking statements are often characterized by the terms "may,"
 "believes," "projects," "expects," or "anticipates," and do not reflect
 historical facts.  Specific forward-looking statements contained in this press
 release include, but are not limited to, expected benefits of the acquisition,
 such as the expansion of the Company's capabilities and the potential for
 increased growth.  Forward-looking statements involve risks, uncertainties and
 other factors that may cause actual results, performance or achievements of
 Radyne ComStream and its subsidiaries to be materially different from those
 expressed or implied by such forward-looking statements.  Factors that could
 affect Radyne ComStream's results and cause them to materially differ from
 those contained in the forward-looking statements contained herein include,
 without limitation, the possibility that the Company will not be able to
 successfully integrate the Tiernan assets into the Company's operations or
 that the acquisition will not expand the Company's capabilities in the
 satellite industry or provide the other benefits anticipated.  Other factors
 that may affect forward-looking statements and the Company's business
 generally include but are not limited to:
     --  Prospects of the international markets and global economy and
         uncertain growth potential of developing markets given that Radyne
         ComStream depends heavily on international sales.
     --  Product obsolescence due to the rapidly changing technologies.
     --  A downturn in the evolving telecommunications and Internet industries.
     --  Risk factors and cautionary statements made in Radyne ComStream's
         Annual Report on Form 10-K for the period ending December 31, 2000.
     --  Other factors that Radyne ComStream is currently unable to identify or
         quantify, but may exist in the future.
 
     Forward-looking statements speak only as of the date the statement was
 made.  Radyne ComStream does not undertake and specifically declines any
 obligation to update any forward-looking statements.
 
 SOURCE  Radyne ComStream