"...Pioneer today provided a progress report about its Vision 2005 initiatives and announced the global launch of its recordable DVD/CD computer drive -- one of the most important products in the Company's history. The DVR-103 computer drive, scheduled to launch in the first quarter of 2001, fills an important void in the market and is in line with Pioneer's vision to be the leading company in the DVD business.

Pioneer's DVR-103 drive, the world's first combination recordable DVD/CD drive for computer use, will begin shipping to the OEM market in the first quarter of 2001. The third-generation drive reads and writes multiple recordable formats, including DVD-R, CD-R and CD-RW, and offers up to 4.7GB of storage capacity per DVD side. In addition, the new drive is capable of recording DVD-R discs at twice the normal speed (2X) -- another industry first.

The DVR-103 drive was designed to be compatible with DVD video players, a market in which Pioneer currently has a 15 percent unit share and nearly 20 percent dollar share globally. The Company's product mix in the DVD player category is stronger in the value-added, step-up models, making it a very profitable business..."