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TITAN SUREBEAM AWARDED NEW PATENT, FURTHER ADVANCING Innovations increase equipment life, reduce facility |
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SAN DIEGO - November 9, 2000 -- The Titan Corporation (NYSE:TTN) -- innovator of the nation's first electronic pasteurization system for food -- announced today that SureBeam has been awarded a U.S. patent for novel SureBeam® system enhancements that improve equipment life, reduce facility construction costs, and increase productivity. This is the ninth patent award that SureBeam has added to its U.S. and foreign patent portfolio. Another 12 patent applications are still pending in the United States and abroad. "Our high-speed technology -- coupled with these system design innovations -- gives SureBeam the ability to install the system more quickly and more efficiently," says Larry A. Oberkfell, SureBeam's President and CEO. Similar to a microwave oven, the SureBeam® system uses ordinary electricity as its energy source to pasteurize food after it has been processed and packaged. The patented SureBeam® technology eliminates in seconds the threat of harmful food-borne pathogens such as E. coli O157:H7, Listeria, Campylobacter and Salmonella without compromising its texture or taste. Over 5,000 people die each year from such food-borne bacteria. "This latest patent further advances SureBeam's technological edge in the industry," said Gene W. Ray, Titan's Chairman, President, and CEO. "These innovative designs allow SureBeam to reduce the wear and tear on SureBeam equipment -- while improving productivity. These significant equipment life-cycle and system enhancements and features provide more protection to SureBeam's proprietary technology portfolio." SureBeam Corporation and the Minnesota-based Huisken Meats launched the nation's first supermarket hamburger product to be electronically pasteurized with the patented SureBeam® technology in 84 stores last May. Today it's estimated that over 1,000 stores are carrying the SureBeam processed product. Schwan's -- the nation's leading distributor of premium frozen foods through home delivery -- also distributes the product nationwide. In addition to Huisken Meats, SureBeam has entered into multiyear agreements with many of the nation's major food producers to use its patented technology, including IBP, Cargill, Emmpak Foods, United Food Group, Tyson Foods, Del Monte Foods, American Foodservice, and Hawaii Pride. Approved by the FDA and USDA, many of the nation's most prominent health and medical organizations support the use of electronic pasteurization technology including the American Medical Association, the American Dietetic Association, The World Health Organization, and the Centers for Disease Control. Headquartered in San Diego, California, The Titan Corporation is a leading-edge technology company that creates, builds and launches technology-based businesses, offering innovative technical solutions. Titan markets the leading technology for the electronic pasteurization of food products. The company's three other core businesses develop and deploy communications and information technology solutions and services. The Company has 7,600 employees, annualized sales of approximately $1.1 billion and total backlog in excess of $2.2 billion. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release, which are not historical facts, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Examples of such forward-looking statements include the Company's belief that SureBeam's design will reduce wear and tear on equipment and will improve productivity. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the risks associated with the Company's entry into new commercial businesses and new markets such as the food pasteurization market that require the company to develop demand for its product, its ability to execute its spin off strategy, its ability to access the capital markets, dependence on continued funding of U.S. Department of Defense and federal civilian agency programs, contract termination risks, risks associated with acquiring other companies, including integration risks, the risks of doing business in developing countries and international markets including foreign currency risks, and other risks described in the Company's Securities and Exchange Commission filings.
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