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We are proud to present our "New Feature Stock" Prodeo Technologies (OTC-BB: PDEO)

TEMPE, Ariz.--(BUSINESS WIRE)--Oct. 10, 2000--Prodeo Technologies Inc. (OTCBB:PDEO) a provider of engineering and manufacturing solutions to the semiconductor industry, today announced that it has completed an upgrade of its chemical mechanical planarization ("CMP") foundry.

With the installation of the Company's proprietary Corona(TM) polishing head on its own complement of Avanti 472 CMP units, Prodeo expects to significantly enhance the performance of its foundry operations.




Prodéo Technologies is a relatively new and profitable semiconductor company, which is the end result of combining three established companies. Although the name is new, Prodeo's management is very experienced in the industry with well over 150 years of experience between them. Prodeo provides companies such as Intel, Motorola, Philips and others in the industry with equipment and material services.

Prodeo has a whole line of OEM equipment that they manufacture and also a business unit that sells pre-owned equipment. Prodeo is a technology driven company and their approach is to provide solutions to customers rather than just simply supplying an individual piece of equipment.

Prodeo tries to anticipate the industry's needs from 1 to 5 years out, and position themselves in the market accordingly. Prodeo has already shown the ability to generate significant revenue and is profitable in its second year of operation.

Prodeo has allocated an impressive 10% of sales to R&D and as a result, many exciting new products are currently or soon will be launched. Prodeo currently has the most dynamic CMP wafer service available in this emerging market and a first to market advantage.

Given the lengthy start up costs to compete in this arena and it looks like Prodeo could very easily establish its footprint as the dominant player. Other new and exciting products include the Corona Polishing Head, the Magnetic Anneal 910, the Wet-Q-2000 and the TCS Flash Evaporator, all of which are manufactured by PPO.

Just last week Prodeo announced the availability of the Reliability Toolkit(TM) (RTK), a suite of software developed for equipment reliability analysis. The RTK was originally developed by International SEMATECH, and is currently in use at more than 70 sites worldwide. Prodeo is currently the sole licensee of the RTK with the right to commercialize the product. The company estimates the total available market for the RTK to be in the $750 million range. This is just another example of the many innovative products in Prodeo's arsenal.

Prodeo reported net sales of $22.7 million for the year ending 3/31/2000 and net income of $1.9 million. The company anticipates continued growth and performance in the current fiscal year.

Prodeo is scheduled to exhibit their technologies at the upcoming SEMICON convention in Austin, TX. October 17-18 and should gain additional exposure from this showing.

PDEO currently trades near its 52 week low after reaching 15 7/8 earlier in the year. The future has never looked brighter for PDEO, with the launching of new products combined with the prior announcements of large contracts that should be hitting the bottom line soon and we think Prodeo is poised for lift off.

We think Prodeo's stock is extremely undervalued at current levels compared to its semiconductor peers, PDEO has laid the foundation for a very successful business model and has shown the ability to execute in a very timely fashion. While we do not give price targets, we do feel PDEO is currently undervalued below $6.

Just to recap... Prodeo is introducing new and exciting products with more in development, they are a profitable fast growing company that is well positioned in an explosive industry.


Prodéo Technologies (OTC-BB PDEO) Stock Price: Closed at .97 on 10/6/2000




Prodéo Technologies specializes in providing technical and manufacturing solutions for the semiconductor electronics industry. The Company's range of products and services include the design and manufacture of next-generation semiconductor equipment including CMP systems, diffusion and LPCVD systems, ultra-high purity gas delivery systems, and rapid batch magnetic anneal systems.

Prodéo Technologies also specializes in the sale of pre-owned semiconductor equipment, reliability software solutions and advanced manufacturing system automation. The Company further provides value-added processing of silicon wafers and semiconductor engineering and technical services through its unique CMP foundry operations.




On June 5, 2000, Sitek Incorporated changed its name to Prodeo Technologies, Inc. The company derives revenues from three business units: Prodeo XS, Prodeo Foundry Operations and Prodeo Product Operations.

Prodeo XS Is in the business of sourcing and selling pre-owned semiconductor manufacturing equipment.

Prodeo Foundry Operations Provides chemical mechanical planarization ("CMP") foundry (wafer processing) and engineering services for semiconductor fabrication customers and manufacturers of optical and micromechanical devices. In addition, Prodeo Foundry Operations provides installation and refurbishment services for certain pre-owned CMP manufacturing tools. Prodeo Technologies has over 75 man years experience in CMP process and product development, manufacturing integration, and equipment enhancement/support.

Its facility and expertise allows fabs to outsource the CMP portion of their process, eliminating the need for costly capital equipment, consumables, and manpower. The Foundry Operations provides the customer with a means of meeting and exceeding production goals, while minimizing losses and delays due to process development, operator errors, and equipment downtime.

Prodeo Product Operations (PPO) Is a world-class supplier of new and refurbished horizontal Diffusion/CVD furnaces and complex, ultra high purity gas and vapor control systems used in the manufacture of semiconductor wafers. The Prodeo Product Operations was founded in 1982 as VSM Corporation. Located in Tempe, Arizona, PPO currently maintains 50,000 square feet of manufacturing space. This manufacturing space includes class 1000 and class 100 clean rooms with class 10 workstations for product fabrication.

PPO manufactures and re-manufactures semiconductor process equipment and subassemblies, including ultra-pure gas and chemical handling systems and thermal systems used in semiconductor wafer manufacturing operations. PPO's capabilities include large frame fabrication, machining, system assembly and ultra clean tubing welding and clean-room assembly operations. The PPO staff is also skilled at equipment refurbishment, which complements both the PPO business as well as the Company's pre-owned equipment business.




Pre-Owned Equipment Sales

Prodeo XS is in the business of sourcing and re-selling prime pre-owned, semiconductor manufacturing tools and systems. The pre-owned semiconductor equipment market is estimated to be over $1 billion per year, with Comdisco Inc. having the largest market share. Pre-Owned equipment sales have enabled the Company to meet its cash requirements for the year with minimal, short term debt financing and no additional equity financing. Prodeo XS has specialized in the process of liquidation of complete wafer fabrication facilities.

Prodeo Foundry Operations

Prodeo's Foundry provides the chemical mechanical planarization process of silicon wafers to semiconductor manufacturers on an outsourced basis. Management believes that Prodeo's Foundry offers the only CMP foundry service to fabricate products for small and/or emerging circuit and micro-mechanical manufacturers in the world.

Additionally, the foundry offers emerging suppliers of CMP related slurries, pads and other consumables the opportunity to test their products without making the investment in CMP facilities themselves. Prodeo's Foundry continues to implement enhancements to its foundry and clean-room facilities and process library as well as conducting extensive tests for the Corona wafer carrier. Prodeo's Foundry is focused on early stage support of smaller customers who are developing the key electronic, optical and MEM products of the future.

Corona Polishing Head

The Corona Polishing Head is a polishing head retrofit for a large installed base of CMP tools. "CMP" refers to the term "chemical mechanical planarization," a critically important process by which surface films on a silicon wafer (or "chip") are made very uniformly flat on a microscopic scale to make it possible to fabricate several layers of interconnecting metal (conductor) patterns on modern, highly complex integrated circuits. The process is applied to both insulator (various oxide, nitride and organic) films and metal films (generally tungsten or copper). In addition to electronic integrated circuits used in advanced technology computer chips, the CMP process is finding useful application in optical circuits and new "micro-mechanical" ("MEMS") devices.

The Corona Polishing Head is a product introduced in January 2000. The Company made its first installation of this equipment in June 2000. The Corona Polishing Head improves the polishing processes on the surface film of the silicon wafer. The Corona Head allows manufacturers to upgrade the equipment rather than purchase new equipment. It is estimated that at least 300 units of these tools are installed in the field. The Corona Polishing Head has been demonstrated to increase machine throughput and to reduce wasted area at the edges of the silicon wafers. Prodeo's Foundry uses the Corona Polishing Head on all of its polishing tools.


The Wet-Q-2000 system is a stand alone unit that stores semiconductor wafers in water during certain processing steps. Because it is necessary to keep wafers wet, the Wet-Q-2000 can be used in conjunction with or as a stand alone storage unit for wafers undergoing processing.

TCS Flash Evaporator

The TCS Flash Evaporator is used for silicon chemical vapor deposition ("CVD") applications. TCS is the short designation for trichlorosilane, which is commonly used starting material for the CVD of silicon films. The TCS Flash Evaporator precisely meters liquid TCS to the reactor in very small amounts and replaces cumbersome and poorly controlled hydrogen `bubbler' units. This product was recently introduced to the market.

Fluid Delivery Products

PPO offers a variety of products for storing, controlling and delivery of ultra-high purity chemicals. Within the fluid delivery system market, the main segments Prodeo serves are gas cylinder cabinets, valve manifold boxes (VMB's), valve manifold panels (VMP's), bulk chemical delivery systems, gas sticks, weldments and on-tool gas panels. These market segments are dominated primarily by Kinetics Fluid Systems, a subsidiary of United States Filter Corporation. Although gross margins are very competitive in the fluid delivery market with 20-40% being typical, Prodeo is enhancing its technical capabilities, design tools and methodologies, processing tools, and the quality of its products to stay competitive and gain market share. Additionally, Prodeo has been selected by strategic partners to form alliances to meet the broadening market requirements.

Thermal Products

PPO offers a series of new and re-manufactured horizontal diffusion and low pressure Chemical Vapor Deposition ("CVD") systems for processing 100-200 mm semiconductor wafers. 300mm systems are under development.

The Magnetic Anneal Model 910

The Magnetic Anneal Model 910 system is a furnace that aligns the magnetic polarization of films on silicon wafers and is used in manufacturing non-volatile memory products. The system has been adapted to batch rapid thermal processing applications without a magnetic field. Ongoing research on this system is focused on increasing the magnetic field strength of the system in order to serve a wider range of customers and compete with current competitors, who have limited their systems to single wafer processing.

The Prodeo machines will process batches of more than 25 silicon wafers at a time. Patent applications have been filed with the U.S. Patent and Trademark Office for protection of the intellectual property associated with this product. Mag Anneal Systems in a vertical configuration with higher magnetic fields are in development.

Reliability Toolkit

Prodeo acquired the rights to an advanced machine reliability tracking software system, "The Reliability Toolkit," that will be marketed to both semiconductor and non-semiconductor equipment suppliers and users. The Company is actively marketing this product.




President and Chief Executive Officer Dr. Don M. Jackson, Jr.

DR. DON M JACKSON, JR. is one of the founders of Prodeo Technologies, Inc. and has served as Chairman of the Board, President, and Chief Executive Officer since the inception of Prodeo Technologies, Inc. operations on July 14, 1998. Don Jackson co-founded the company after an extensive career in various executive positions in technology companies such as ASM America, Inc., Superwave Technology, Inc., Microelectronic Packaging, Inc., Integrated Process Equipment Corporation, Westech Systems, Inc., Global Semiconductor Technologies, L.L.C., Motorola and General Electric. Don Jackson holds a Ph.D. from Arizona State University in Electrical Engineering. Don Jackson presently also is a director and member of the Audit Committees of Flexpoint Sensor Systems, Inc. in Midvale, Utah and M&I Thunderbird Bank in Phoenix, Arizona.


Sales and Marketing


The Sales and Marketing Division was established in the fiscal year ending March 31, 2000 to provide a consolidated sales and marketing support system for the entire Company. The sales and marketing division has six employees that provide sales support, product introduction, and post-sale product support. See "Products." The Sales and Marketing Division has the responsibility for trade show management, advertising, sales support and customer relations.

Prodeo intends to expand its sales and marketing staff in fiscal year ending March 31, 2001 by implementing a combination of adding internal sales personnel and contract sales representatives (non-employee) in key locations around the world, such as in Korea, China and Europe.

Prodeo sales for the year were distributed among a global market for all types of equipment sales and services, with 9% of Prodeo's sales in the Pacific Rim, 52% of Prodeo's sales in Europe and 37% of Prodeo's sales in the United States.


Technology Division


The Technology Division ("TD") is responsible for product development and process engineering for the Company. The nature of almost all of the ongoing applied engineering and product development projects must be kept confidential for competitive reasons. The TD's 12 engineers are experienced in product design, with between eight and 20 years of experience in development, testing and market introduction of silicon wafer manufacturing products.

The TD launched three new products, the Corona Head, the Wet-Q-2000 and the TCS Flash Evaporator, and three major products are currently in development.

The in-house technician staff is supplemented by university staff consultants and engineers on an as needed basis. Prodeo's development efforts focus on product design and development and process engineering. Each project has a business objective. The Company actively seeks out potential corporate and university partners for joint product development programs. The Company expects to budget approximately 10% of sales revenues to fund development projects, and plans to actively solicit development funding from U.S. government agencies and other sources.

The TD includes the machine and factory automation group, whose purpose is to exploit the Prodeo "Control Act" automation software development package developed originally by Honeywell Corp. and SEMATECH, Inc. and licensed to Prodeo. This automation software, when applied to semiconductor manufacturing equipment will automate some of the processes and controls traditionally handled by fabrication engineers and product staff.

These "smart" machines will handle many routine engineering decisions, safety and malfunction issues and the application of physics and chemical principles to the processes under control.




Prodeo Technologies Incorporated filings with the SEC can be found at the Securities Exchange Commissions website.


Intellectual Property


The Company currently has two patents pending for the Corona Polishing Head and Magnetic Anneal Model 910. Additionally, Prodeo became the exclusive licensee in two U.S. patents related to semiconductor apparatus and processing of semiconductor films. Prodeo also has a non-exclusive, royalty-bearing license from Raytheon Corporation to use, make and sell apparatus and processes for depositing borophosphosilicate glass, which is a dielectric film used in the manufacture of advanced semiconductor devices. Prodeo uses such technology in VSM's thermal product line.


Corporate Financial Snapshot


Approximate as of 10/6/00

Shares Outstanding:12.3M

Shares in the Float: 3.2M

Market Cap: $11.93M

Sales: $22.7 million

EPS: .15

Sales per Share: $1.85

Price to Sales: .52

Price to Earnings: 6


Corporate Contacts


Prodéo Technologies, Inc.

1817 West 4th Street

Tempe, Arizona 85281

Investor Relations Contact:

David A. Bays

(480) 921-8555


Recent News and Press Releases


Prodeo Technologies Announces Commercialization and Availability of Reliability Toolkit Software Suite

Prodeo Technologies Announces Follow-on Order for TCS Flash Vaporizer Systems

Prodeo Technologies Reports First-Quarter 2001 Results

Prodeo Technologies Reports Financial Results for Fiscal Year Prodeo, Novellus and Applied Materials Announce Achievements in Semiconductor Industry

Prodeo Technologies Announces Membership in Surplus Equipment Consortium/Network SEC/Nsm

Prodeo Technologies, Inc. Receives $2.4 Million Furnace System Order

Prodeo Technologies Announces New Pre-Owned Equipment Division, Prodeo XSProdeo Technologies Announces Sale of ATSI, Inc.

Semiconductor Stocks To Watch

Prodeo Technologies Receives Additional Contract for TEOS Liquid Delivery System

VISIT *** for further details on PDEO








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