Snell & Wilcox Acquires Post Impressions

Petersfield, UK (September 5, 2001)-- Snell & Wilcox announcedthe acquisition of Newbury-based HD workstation manufacturer PostImpressions.

The acquisition reportedly is fully supported by the shareholders ofPost Impressions, headed by Advent Venture Partners.

Harry Cross, Snell & Wilcox deputy CEO, says, "We are delightedthat our negotiations have been successful. The development ofinnovative postproduction products has played a very important role inthe growth of Snell & Wilcox over the past few years and we areconfident that the benefits of this acquisition will be greater thanthe sum of its parts."

Post Impressions, based in Newbury, was established in April '98 asthe result of a management buyout from the hardware division ofDiscreet Logic, which brought together experienced hardware andsoftware engineers in the video industry.

According to Phil Haines, managing director of Post & PostProduction, Snell & Wilcox: "The growing demand for HD technology,in which Post Impressions and Snell & Wilcox share complimentaryexpertise, makes this marriage of people and product ideal for bothparties.

"Post Impressions represents a key building block in our strategyfor the future--especially since I am convinced that HDTV will behappening sooner than many people think."

Post Impressions' SpiRINT Diskstation is a platform for HDTV PostProduction with installations in facilities worldwide. Development andsupport for Post Impressions' SD and HD products and technology willcontinue. Terms of the acquisition were undisclosed.