| FREMONT,
Calif.-
November 12, 2002 - Vialta, Inc. (OTC Bulletin Board:
VLTA), developer of unique and innovative home entertainment
and communications products, today announced the appointment
of William M. Scharninghausen to the position of Chief
Financial Officer (CFO) of the Company.
Most
recently, Scharninghausen served as Senior Vice President,
Finance and CFO of Diva Systems Corporation. Diva was
a Redwood City based, video-on-demand provider to the
cable television industry. Prior to joining Diva, he
was the Corporate Controller and Chief Accounting Officer
at Starsight Telecast, Inc.
"We
are extremely happy to have Bill on board as our Chief
Financial Officer," said Didier Pietri, President and
CEO of Vialta, Inc. "His background and expertise will
greatly benefit Vialta as it continues to develop and
grow."
Scharninghausen brings several years of executive level
and CFO experience to Vialta. He has an undergraduate
degree in Business Administration from California Polytechnic
State University at San Luis Obispo, California and
is a Certified Public Accountant in the State of California.
"I
am very excited to join Vialta and its seasoned management
team," said Scharninghausen. "With the launch of Beamer,
and the Phone Video Station product line, this is a
key time in the company's life cycle. I look forward
to making a significant contribution toward the growth
of the company, bringing us national visibility and
building on Vialta's successes."
About Vialta
Vialta develops, designs and markets unique and innovative
home entertainment and communications products for the
mainstream consumer. The company was formed in April 1999
and is publicly traded on the OTC Bulletin board under
the symbol VLTA. The company is headquartered in Fremont,
California with offices in Los Angeles, Toronto and Hong
Kong. More information about Vialta can be found at www.vialta.com.
The
matters discussed in this news release include certain
forward-looking statements that involve risks and uncertainties,
including, but not limited to, the possible reduction
of consumer spending, the timely availability and acceptance
of the Company's new and existing products, the impact
of competitive products and pricing, the dependence on
continued growth in demand for consumer products, and
the other risks detailed from time to time in the SEC
reports of Vialta, including the reports on Form 10-K
and Form 10-Q. Actual results could differ materially
from those projected in the forward-looking statements.
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