Cornice Press Release 05/01/04

Cornice Introduces New 2.0-Gigabyte Storage Element, Advancing Low-Cost Data Storage for Electronics

LONGMONT, Colo.—(BUSINESS WIRE)—Jan. 5, 2004—
Storage Innovator Targets Video, Multi-function, and GPS Applications With New Device That Holds 33% More Data Than the Previous Product Generation  

Cornice Inc., an innovator in compact, high-capacity storage, today introduced the 2.0-gigabyte Cornice Storage Element—a storage device for use in consumer electronics, portable devices, and other applications that demand large amounts of reliable, inexpensive storage in a small space and at the lowest cost.

The 2.0-gigabyte Storage Element will allow electronics device manufacturers to build new pocket-able products that store more music, video, and pictures, as well as more office productivity files such as presentations and word processing documents. With the additional storage relative to the previous generation of the Storage Element, increasingly compelling, cost-competitive video capture and playback devices can be developed that are able to store more than three hours of VHS-quality video. Other applications include continent-inclusive GPS devices, multi-function handheld computers, and other emerging product types.

By carrying out a fundamental re-evaluation of how portable storage devices should be designed and manufactured, Cornice achieved the industry’s lowest cost for high-capacity portable storage. By re-examining the mechanics and electronics of storage devices, Cornice was able to create an inexpensive storage solution that is compact, durable, and optimized for portable electronics.

Launched in June 2003, the first generation of Cornice’s Storage Element remains a key component in some of the most innovative MP3 players, video camcorders, and USB keychain drives introduced that year. Leading consumer electronics infrastructure providers like Texas Instruments, PortalPlayer, and SigmaTel announced their continued intent to optimize their offerings for use with Cornice’s Storage Element, providing consumer electronics manufacturers an easy way to incorporate the Cornice Storage Element within future products.

“With the highly successful introduction of Cornice’s Storage Element in June of last year, it was evident that our company and its technology struck a chord within the consumer electronics community—that reliable, low-cost, high-capacity data storage within very small electronic devices was a near-term, achievable reality,” said Kevin Magenis, president and CEO of Cornice. “The debut of this two-gigabyte device demonstrates that we are committed to supplying our customers with increasingly high storage capacities at an extremely competitive price.”

Meet Cornice At CES
Cornice will be showcasing the new 2.0-gigabyte Storage Element at the International Consumer Electronics Show from January 8 - 11, 2004, at the Las Vegas Convention Center (So. 3&4, 21154).

Price And Availability

The 2.0-gigabyte Storage Element is available in volume quantities now. List price is $70 per unit in quantities of 100,000 per year. Email Cornice’s sales staff at [email protected] or call 303-651-7291.

About Cornice

Cornice Inc. is an innovator in small, compact, low-cost, high-capacity storage that enables a new generation of pocket-able consumer electronic devices for the world’s leading brand-name manufacturers. The Cornice Storage Element (SE) is durable, integrated, personal storage that brings new levels of affordability and content capacity to these devices.

Early investors in Cornice include the company’s founders, management team, and Texas Instruments. In August 2002, the Company received its first venture investment from CIBC Capital Partners, Nokia Venture Partners, and VantagePoint Venture Partners. Privately held, Cornice maintains headquarters in Longmont, Colo. Visit Cornice at http://www.corniceco.com/.