Liquidmetal Technologies (LQMT)

Samsung Electronics Announces First Mobile Phone Incorporating Revolutionary Liquidmetal Alloy
Friday October 4, 8:00 am ET


TAMPA, Fla.--(BUSINESS WIRE)--Oct. 4, 2002--Liquidmetal Technologies (NASDAQ:LQMT - News)
(Liquidmetal Part Is Featured in Innovative SCH-X199 Model Being Introduced to Market by China Unicom)
Liquidmetal Technologies (NASDAQ:LQMT - News) today announced that its high-performance Liquidmetal® alloy is featured in a new line of stronger, thinner cellular phones to be launched by Samsung Electronics Company, affirming a Samsung announcement reported in the September 29 edition of Korean-language business publication The Korea Economic Daily.

Samsung teamed up with Liquidmetal Technologies to produce a super-thin LCD screen frame component for its innovative SCH-X199 mobile phone model. The phone is being introduced in China by leading wireless service provider China Unicom under an initial contract order with Samsung.

"Samsung is focused on reshaping the future of consumer electronics through technical excellence and superior design. Our application of Liquidmetal`s revolutionary alloy in this exciting new phone concept is an excellent example of that spirit of innovation and product leadership," says G.H. Yoon, Vice President of Design Group, Telecommunication Network Business, Samsung Electronics. "With its exceptional strength, durability and processing advantages, Liquidmetal® alloy is poised to be a significant part of Samsung`s growing family of cutting-edge products."

John Kang, Liquidmetal Technologies` president and chief executive officer, comments, "We are delighted with the close working partnership we have achieved with Samsung. With two-to-three times the strength of high-performance metals, including stainless steel and titanium, Liquidmetal® alloys are ideally suited to meet the design and technical advancements customers expect and for which Samsung is being recognized in the global marketplace. This is particularly true in premium-quality cell phone markets, where consumers are demanding smaller, thinner and more aesthetically pleasing designs along with increased functionality," Kang said.

The SCH-X199 parts are being produced at Liquidmetal Technologies` manufacturing operations near Seoul, South Korea, the global headquarters of Samsung Electronics. Liquidmetal Technologies is currently in production at its 13,000 square foot plant in Pyongtaek, South Korea. Construction of an adjoining 153,000 square foot building was completed as scheduled in September. Machinery, equipment and supporting infrastructure are now being installed as that facility begins ramping-up its manufacturing capacity.

About Liquidmetal Technologies

Liquidmetal Technologies (www.liquidmetal.com) is the leading developer, manufacturer, and marketer of products made from amorphous alloys. Amorphous alloys are unique materials that are characterized by a random atomic structure, in contrast to the crystalline atomic structure possessed by ordinary metals and alloys. Bulk Liquidmetal® alloys are two to three times stronger than commonly used titanium alloys, harder than tool steel, and relatively non-corrosive and wear resistant. Bulk Liquidmetal alloys can also be molded into precision net-shaped parts similar to plastics, resulting in intricate and sophisticated engineered designs. Liquidmetal Technologies is the first company to produce amorphous alloys in commercially viable bulk form, enabling significant improvements in products across a wide array of industries. The combination of a super alloy`s performance coupled with unique processing advantages positions Liquidmetal alloys for what the company believes will be The Third Revolution(TM) in material science.

This press release may contain "forward-looking statements" that involve risks and uncertainties, including statements regarding our plans, future events, objectives, expectations, forecasts, or assumptions. Any statement in this press release that is not a statement of historical fact is a forward-looking statement, and in some cases, words such as "believe," "estimate," "project," "expect," "intend," "may," "anticipate," "plans," "seeks," and similar expressions identify forward-looking statements. These statements involve risks and uncertainties that could cause actual outcomes and results to differ materially from the anticipated outcomes or result, and undue reliance should not be placed on these statements. These risks and uncertainties may include: our limited operating history in developing and manufacturing products from bulk amorphous alloys; the adoption of our alloys by customers; the commercial success of our customer`s products; our ability to identify, develop, and commercialize new applications for our alloys; competition with suppliers of incumbent materials; the development of new materials that render our alloys obsolete; the ability to manage our anticipated growth; our limited direct experience in manufacturing bulk alloy products; scaling-up our manufacturing facilities; protecting our intellectual property; problems associated with manufacturing and selling our alloys outside of the United States; and other risks and uncertainties discussed in filings made with the Securities and Exchange Commission (including risks described in subsequent reports on Form 10-Q, Form 10-K, Form 8-K, and other filings). Liquidmetal Technologies disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.



--------------------------------------------------------------------------------
Contact:
Liquidmetal Technologies, Tampa
David Townsend, 813/314-0280, ext: 127
david.townsend@liquidmetal.com



--------------------------------------------------------------------------------
Source: Liquidmetal Technologies

Liquidmetal Technologies and DePuy Orthopaedics to Co-Develop Implants Using Liquidmetal Alloys
Friday December 20, 10:28 am ET
Multi-year Agreement Targets $2.4 Billion Knee Replacement Market


TAMPA, Fla.--(BUSINESS WIRE)--Dec. 20, 2002--Liquidmetal Technologies (NASDAQ:LQMT - News) today announced it has entered into an exclusive, multi-year agreement with DePuy Orthopaedics, Inc., a Johnson & Johnson company, to co-develop orthopaedic implants and instruments for the $2.4 billion knee replacement market.
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The agreement gives DePuy Orthopaedics the exclusive worldwide right and license to engage with Liquidmetal Technologies in the development of knee replacement devices based on Liquidmetal`s patented amorphous alloy technology and to sell knee replacement devices that incorporate components made from Liquidmetal® alloys.

Under terms of the agreement, Liquidmetal will receive scheduled cash payments upon completion of specific prototype milestones, culminating in the receipt of FDA marketing approval. Thereafter, Liquidmetal will receive royalty payments from net sales of knee replacement devices developed under the program and marketed by DePuy. All product components will be manufactured by Liquidmetal Technologies and sold to DePuy, with DePuy providing full marketing and distribution services. The agreement is initially expected to run the life of related Liquidmetal Technologies patents extending to 2020.

John Kang, Liquidmetal Technologies` President and Chief Executive Officer, commented, "Our decision to partner with DePuy was an easy one. They are the acknowledged leader in this large market arena and are dedicated to bringing state-of-the-art products to their customers. We believe the combination of our revolutionary alloy technology and DePuy`s world class team of product development, engineering and marketing personnel can be a potent force in driving the creation of higher performance components and knee replacement devices. We look forward to working with them in this exciting and highly visible product area."

The joint product development program combines the advanced materials technology of Liquidmetal alloys with DePuy`s industry leadership in design innovation, manufacturing and marketing of orthopaedic devices. Liquidmetal Technologies is the leading developer of products made from bulk amorphous alloys. Liquidmetal alloys possess a unique atomic structure that provides strength more than two times greater than titanium yet have the ability to be molded into precision, net-shaped components for an array of product applications spanning multiple industries. The medical device market is a major focus of the company`s research and product development efforts.

About Liquidmetal Technologies

Liquidmetal Technologies (www.liquidmetal.com) is the leading developer, manufacturer, and marketer of products made from amorphous alloys. Amorphous alloys are unique materials that are characterized by a random atomic structure, in contrast to the crystalline atomic structure possessed by ordinary metals and alloys. Bulk Liquidmetal® alloys are two to three times stronger than commonly used titanium alloys, harder than tool steel, and relatively non-corrosive and wear resistant. Bulk Liquidmetal alloys can also be molded into precision net-shaped parts similar to plastics, resulting in intricate and sophisticated engineered designs. Liquidmetal Technologies is the first company to produce amorphous alloys in commercially viable bulk form, enabling significant improvements in products across a wide array of industries. The combination of a super alloy`s performance coupled with unique processing advantages positions Liquidmetal alloys for what the company believes will be The Third Revolution(TM) in material science.

This press release may contain "forward-looking statements" that involve risks and uncertainties, including statements regarding our plans, future events, objectives, expectations, forecasts, or assumptions. Any statement in this press release that is not a statement of historical fact is a forward-looking statement, and in some cases, words such as "believe," "estimate," "project," "expect," "intend," "may," "anticipate," "plans," "seeks," and similar expressions identify forward-looking statements. These statements involve risks and uncertainties that could cause actual outcomes and results to differ materially from the anticipated outcomes or result, and undue reliance should not be placed on these statements. These risks and uncertainties may include: our limited operating history in developing and manufacturing products from bulk amorphous alloys; the adoption of our alloys by customers; the commercial success of our customer`s products; our ability to identify, develop, and commercialize new applications for our alloys; competition with suppliers of incumbent materials; the development of new materials that render our alloys obsolete; the ability to manage our anticipated growth; our limited direct experience in manufacturing bulk alloy products; scaling-up our manufacturing facilities; protecting our intellectual property; problems associated with manufacturing and selling our alloys outside of the United States; and other risks and uncertainties discussed in filings made with the Securities and Exchange Commission (including risks described in subsequent reports on Form 10-Q, Form 10-K, Form 8-K, and other filings). Liquidmetal Technologies disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.



--------------------------------------------------------------------------------
Contact:
Liquidmetal Technologies
Media
Otis Buchanan, 813/314-0280 ext. 109
otis.buchanan@liquidmetal.com
Investors
David Townsend, 813/314-0280 ext. 127
david.townsend@liquidmetal.com



--------------------------------------------------------------------------------
Source: Liquidmetal Technologies

Liquidmetal Technologies Announces 2002 Fourth Quarter and Full Year Results
Thursday February 20, 6:03 am ET
Quarterly Revenues of $5.9 Million Exceeded Prior Year by 572% and Grew 61% On a Sequential Quarterly Basis


TAMPA, Fla.--(BUSINESS WIRE)--Feb. 20, 2003-- Liquidmetal Technologies (Nasdaq:LQMT - News) today announced results for its 2002 fourth quarter and fiscal year ended December 31, 2002.
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Revenues for the fourth quarter achieved a nearly seven-fold increase to $5.9 million from revenues of $874,000 in the fourth quarter of 2001. On a sequential basis, fourth-quarter revenues were 61% higher than the $3.7 million in revenues reported for the 2002 third quarter ended September 30. Revenues for the year grew to $13.1 million compared to $3.9 million in 2001, a 238% increase.

"These results mark an exciting milestone for the company: the start of full production at our new state-of-the-art manufacturing facility," said John Kang, Liquidmetal Technologies` President and Chief Executive Officer. "Perhaps more important, they signal our trajectory of growth as we enter 2003. With each passing week and month, we are gaining momentum and demonstrating the viability of our revolutionary material technology in a high-volume manufacturing environment."

The revenue gains largely resulted from a sharp rise in volume of products manufactured from the company`s proprietary bulk Liquidmetal® alloys. Construction of the company`s first full manufacturing plant was completed in September, accelerating the ramp-up of manufacturing capacity and providing a platform for the growth in sales of bulk alloy products and related revenues achieved in the fourth quarter.

The company`s bulk alloy segment accounted for 88% of 2002 fourth quarter revenues, while sales of Liquidmetal coatings contributed 12%. This compared to 19% and 81%, respectively, in the prior year fourth quarter, reflecting the company`s strategic shift in product mix. Although led by production of parts made from Liquidmetal alloys, bulk alloy segment results also include research and development revenues and furnace equipment sales. Liquidmetal® coatings are sold mainly to the oil drilling and power generation industries as a protective application in extreme-wear conditions.

As expected, higher expenses stemming from the company`s rapid scale-up resulted in losses for the fourth quarter and full year. For the quarter, the company reported a loss from continuing operations of $5.9 million, or $0.14 per share, compared with a loss of $2.9 million, or $0.08 per share, in the fourth quarter of 2001. For the year, the loss from continuing operations was $19.9 million, or $0.51 per share, compared with a loss of $5.2 million, or $.15 per share, from continuing operations in 2001. Including the effect of discontinued operations, the net loss for the quarter totaled $6.3 million, or $0.15 per share. This compared with net income of $3.0 million, or $0.09 per share, in the prior-year fourth quarter, which included a non-recurring gain of $5.8 million, or $0.17 per share, from a change in management`s estimate of the loss on disposal of a discontinued, pre-IPO business. For the full year, the net loss including discontinued operations amounted to $18.4 million, or $0.47 per share, compared with a net loss of $23.1 million, or $0.69 per share, in 2001.

Earnings per share calculations were based on 40,995,375 weighted average shares outstanding for the 2002 fourth quarter and 38,713,878 shares for the full year, compared with 34,993,723 and 33,323,217 shares in the respective prior year periods.

Fourth quarter and full year gross profits were sharply higher on the strength of the company`s revenue growth; however, gross margins were lower than in the prior year as an anticipated outgrowth of the accelerated shift in product mix toward a greater percentage of bulk alloy sales. Bulk alloy revenues currently carry a lower margin than the substantially higher-margin coatings sales that dominated the company`s smaller base of revenues in preceding quarters and the prior year. As a result, the gross margin was 27.1% in the current fourth quarter versus 54.0% in the fourth quarter of 2001. For the year, the gross margin was 33.9% versus 50.4% in 2001.

Manufacturing during the fourth quarter centered on production of cell phone casing components for Samsung Electronics, as well as prototyping of various products in development with other customers representing the company`s four main target markets for its bulk alloy products -- electronic casings, medical devices, sports and leisure products, and defense products.

Capital expenditures totaled $11.2 million for the fourth quarter and $23.8 for the year, principally reflecting the costs of construction and equipment for build-out of the company`s manufacturing operations. Cash and marketable securities totaled $29.1 million at December 31.

"In virtually all respects, 2002 was a year of tremendous progress completed in an extraordinary timeframe and against the inevitable challenges of building a new manufacturing company literally from the ground up," Kang said.

Among its significant accomplishments in 2002, the company:

-- Successfully completed its initial public offering and on May 22,

2002 began trading of its common stock on the Nasdaq National

Market;

-- Entered new product development agreements with leading global

customers, including TAG Heuer (watch casings and components),

LVMH (luxury goods), the U.S. Army/General Dynamics Corporation

(armor-piercing ammunition), Surgical Specialties (ophthalmic
blades), DePuy Orthopaedics (knee replacement systems) and

Lockheed Martin (defense armor systems), while continuing product

development programs with Rawlings, Head Sports, PING, Cleveland

Golf, Samsung Electronics, LG Electronics, Motorola and the U.S.

Department of Defense;

-- Achieved an additional $5.25 million allocation for ongoing

Department of Defense research and testing of Liquidmetal alloys

for defense-related applications;

-- Completed construction of its first full-scale manufacturing

plant -- a state-of-the-art, 166,000 square foot facility in

Pyongtaek, South Korea -- in September 2002 and accelerated the

ongoing ramp-up of its production capacity;

-- Began mass production of Liquidmetal parts from the newly

dedicated plant during the fourth quarter.

"While we are gratified by these and other accomplishments, our focus now is on taking Liquidmetal Technologies to dramatically higher levels of operating performance and achieving our objective of profitability in 2003," Kang said. "As we enter 2003, many of our customers are poised to launch their first Liquidmetal products. We are excited by the prospect of multiple Liquidmetal products entering multiple markets and the momentum this will build for our company."

These results and other highlights of the 2002 fourth quarter and year will be presented in a webcast conference call hosted by Kang and Brian McDougall, Executive Vice President and Chief Financial Officer, at 8:30 a.m. EST today (February 20). Interested parties are invited to access the conference call live via the Internet from Liquidmetal Technologies` Web site at http://ir.liquidmetal.com or at www.companyboardroom.com. The dial-in number for investors participating in the operator-assisted call is toll-free 800/915-4836 or toll 973/317-5319 for international callers. Institutional investors can also access the call via CCBN`s password-protected event management site, www.streetevents.com. A rebroadcast of the call will be available after 11 a.m. today on the company`s Web site at http://ir.liquidmetal.com or at toll-free 800/428-6051 or 973/709-2089 for international callers, access code 28174.

About Liquidmetal Technologies

Liquidmetal Technologies (www.liquidmetal.com) is the leading developer, manufacturer, and marketer of products made from amorphous alloys. Amorphous alloys are unique materials that are characterized by a random atomic structure, in contrast to the crystalline atomic structure possessed by ordinary metals and alloys. Bulk Liquidmetal® alloys are two to three times stronger than commonly used titanium alloys, harder than tool steel, and relatively non-corrosive and wear resistant. Bulk Liquidmetal alloys can also be molded into precision net-shaped parts similar to plastics, resulting in intricate and sophisticated engineered designs. Liquidmetal Technologies is the first company to produce amorphous alloys in commercially viable bulk form, enabling significant improvements in products across a wide array of industries. The combination of a super alloy`s performance coupled with unique processing advantages positions Liquidmetal alloys for what the company believes will be The Third Revolution(TM) in material science.

This press release may contain "forward-looking statements" that involve risks and uncertainties, including statements regarding our plans, future events, objectives, expectations, forecasts, or assumptions. Any statement in this press release that is not a statement of historical fact is a forward-looking statement, and in some cases, words such as "believe," "estimate," "project," "expect," "intend," "may," "anticipate," "plans," "seeks," and similar expressions identify forward-looking statements. These statements involve risks and uncertainties that could cause actual outcomes and results to differ materially from the anticipated outcomes or result, and undue reliance should not be placed on these statements. These risks and uncertainties may include: our limited operating history in developing and manufacturing products from bulk amorphous alloys; the adoption of our alloys by customers; the commercial success of our customer`s products; our ability to identify, develop, and commercialize new applications for our alloys; competition with suppliers of incumbent materials; the development of new materials that render our alloys obsolete; the ability to manage our anticipated growth; our limited direct experience in manufacturing bulk alloy products; scaling-up our manufacturing facilities; protecting our intellectual property; problems associated with manufacturing and selling our alloys outside of the United States; and other risks and uncertainties discussed in filings made with the Securities and Exchange Commission (including risks described in subsequent reports on Form 10-Q, Form 10-K, Form 8-K, and other filings). Liquidmetal Technologies disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

LIQUIDMETAL TECHNOLOGIES AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(in thousands, except per share data)
(unaudited)

For the Three Months For the Twelve Months
Ended December 31, Ended December 31,
-------------------- ---------------------
2002 2001 2002 2001
---- ---- ---- ----

REVENUE $ 5,877 $ 874 $ 13,139 $ 3,882
COST OF SALES 4,286 402 8,679 1,924
-------- -------- -------- --------
Gross Profit 1,591 472 4,460 1,958
-------- -------- -------- --------

OPERATING EXPENSES:
Selling, general and
administrative 3,726 1,837 12,767 3,970
Research and development 4,817 1,171 11,825 2,057
-------- -------- -------- --------
Total expenses 8,543 3,008 24,592 6,027
-------- -------- -------- --------

LOSS BEFORE INTEREST AND
OTHER INCOME, INCOME TAXES,
MINORITY INTEREST AND
DISCONTINUED OPERATIONS (6,952) (2,536) (20,132) (4,069)
Interest expense (4) (319) (1,113) (1,103)
Interest income 117 5 510 8
Gain on sale of
marketable securities 832 -- 832 --
-------- -------- -------- --------
LOSS BEFORE INCOME TAXES,
MINORITY INTEREST AND
DISCONTINUED OPERATIONS (6,007) (2,850) (19,903) (5,164)

Income taxes (123) -- (123) --
-------- -------- -------- --------
LOSS BEFORE MINORITY
INTEREST AND DISCONTINUED
OPERATIONS (6,130) (2,850) (20,026) (5,164)

Minority interest in income
of consolidated subsidiary 204 -- 118 --
-------- -------- -------- --------
LOSS FROM CONTINUING
OPERATIONS (5,926) (2,850) (19,908) (5,164)

Loss from operations of
discontinued retail golf
segment, net -- -- -- (5,973)
Gain (loss) from disposal
of discontinued retail
golf segment, net (418) 5,837 1,556 (11,949)
-------- -------- -------- --------
NET (LOSS) INCOME (6,344) 2,987 (18,352) (23,086)

Foreign exchange
translation gain (loss) 306 (23) (28) (24)
Net unrealized gain on
marketable securities
held-for-sale 1,486 -- 1,668 --
-------- -------- -------- --------
COMPREHENSIVE LOSS $ (4,552) $ 2,964 $(16,712) $(23,110)
======== ======== ======== ========

PER COMMON SHARE BASIC
AND DILUTED:
Loss from continuing
operations $ (0.14) $ (0.08) $ (0.51) $ (0.15)
======== ======== ======== ========
Income (loss) from
discontinued operations $ (0.01) $ 0.17 $ 0.04 $ (0.54)
======== ======== ======== ========
Net income (loss) $ (0.15) $ 0.09 $ (0.47) $ (0.69)
======== ======== ======== ========



LIQUIDMETAL TECHNOLOGIES AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share data)
(unaudited)

December 31, December 31,
2002 2001
---- ----
ASSETS

CURRENT ASSETS:
Cash and cash equivalents $ 26,003 $ 2,230
Marketable securities held-for-sale 3,068 --
Trade receivables (net of allowance
for doubtful accounts of $319 in
2002 and $30 in 2001) 6,404 911
Inventories 2,506 503
Prepaid expenses and other current
assets 2,142 967
--------- ---------
Total current assets 40,123 4,611
PROPERTY, PLANT AND EQUIPMENT, NET 23,505 1,163
INTANGIBLE ASSETS, NET 785 723
GOODWILL 184 --
OTHER ASSETS 408 183
--------- ---------
Total assets $ 65,005 $ 6,680
========= =========

LIABILITIES AND SHAREHOLDERS` EQUITY (DEFICIENCY)

CURRENT LIABILITIES:
Accounts payable and accrued
expenses $ 11,174 $ 2,706
Net liabilities of discontinued
operations 1,148 7,492
Deferred revenue 1,397 830
Other liabilities 19 167
Current portion of notes payable
to shareholders -- 2,988
--------- ---------
Total current liabilities 13,738 14,183
OTHER LONG-TERM LIABILITIES 74 --
--------- ---------
Total liabilities 13,812 14,183
--------- ---------
COMMITMENTS AND CONTINGENCIES

MINORITY INTEREST 21 --
--------- ---------
SHAREHOLDERS` EQUITY (DEFICIENCY):
Preferred stock, no par value;
10,000,000 shares authorized and
none outstanding at September 30,
2002 and 456,857 outstanding at
December 31, 2001 -- 5,577
Common stock, no par value;
200,000,000 shares authorized and
41,009,245 issued and outstanding
at December 31, 2002 and 35,023,515
issued and outstanding at December
31, 2001 106,554 29,752
Paid-in capital 20,326 22,401
Unamortized stock-based compensation (480) (6,717)
Accumulated deficit (76,940) (58,588)
Accumulated comprehensive (loss)
income 1,712 72
--------- ---------
Total shareholders` equity
(deficiency) 51,172 (7,503)
--------- ---------
Total liabilities and
shareholders` equity
(deficiency) $ 65,005 $ 6,680
========= =========




--------------------------------------------------------------------------------
Contact:
Liquidmetal Technologies
David Townsend (investors), 813/314-0280 ext. 127
david.townsend@liquidmetal.com
or
Otis Buchanan (media), 949/206-8020
otis.buchanan@liquidmetal.com



--------------------------------------------------------------------------------
Source: Liquidmetal Technologies

World-Renowned Watchmaker, TAG Heuer, Merges Liquidmetal Alloys and Groundbreaking Precision, Creating A New High-Performance Timepiece
Thursday April 3, 1:04 pm ET
-Special Edition Watch Unveiled at Prestigious Swiss Show-


TAMPA, Fla., April 3 /PRNewswire-FirstCall/ -- Liquidmetal Technologies (Nasdaq: LQMT - News), the leading developer and manufacturer of amorphous alloys, announced that TAG Heuer, the fourth brand in luxury watch making, is featuring high-performance Liquidmetal® alloy as the casing of a new special edition, state-of-the-art digital movement timepiece. The internationally renowned luxury brand watchmaker is presenting the new product during the BASEL 2003 World Watch & Jewelry Show that opened today in Basel, Switzerland.
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"This merger of new material technology and legendary quality validates the superior strength, finish and performance characteristics of our revolutionary alloys," said Liquidmetal Technologies` president and CEO John Kang. "We are delighted that TAG Heuer has chosen this prestigious watch and the renowned BASEL Show to introduce Liquidmetal alloys into their product line and showcase our attributes before the world`s watch and jewelry industry."

The chronograph timepiece was unveiled at BASEL as the Microtimer Concept Watch. Built upon TAG Heuer`s international reputation for precision, endurance and technological innovation, it is fitted with the first Swiss electronic movement accurate to 1/1000th of a second and other complex electronics tailored to reflect the performance-driven technology of Formula One motor racing.

According to TAG Heuer officials, the selection of Liquidmetal alloys for the Microtimer exemplifies the exacting standards of technological innovation and performance established in 1860 by the watchmaker`s founder, Edouard Heuer. Liquidmetal alloys are 2.5 times the strength and twice the hardness of commonly used titanium alloys, making them ideal for luxury watches and jewelry. Their properties translate into a watchcase that is both scratch and dent resistant, while at the same time provides a high gloss that can be polished to a luxurious jeweler`s finish. The unparalleled ability of Liquidmetal alloys to be cast into precision net-shape parts offers additional opportunities and advantages for their application in unique and sophisticated jewelry designs. Liquidmetal Technologies began product development efforts with TAG Heuer, and its parent company, LVMH (Moet Hennessy Louis Vuitton), in 2002.

About Liquidmetal Technologies

Liquidmetal Technologies (www.liquidmetal.com) is the leading developer, manufacturer and marketer of products made from amorphous alloys. Amorphous alloys are unique materials that are characterized by a random atomic structure, in contrast to the crystalline atomic structure possessed by ordinary metals and alloys. Bulk Liquidmetal® alloys are two-to-three times stronger than commonly used titanium alloys, harder than tool steel, and relatively non-corrosive and wear resistant. Bulk Liquidmetal alloys can also be molded into precision net-shaped parts, resulting in intricate and sophisticated engineered designs. Liquidmetal Technologies is the first company to produce amorphous alloys in commercially viable bulk form, enabling significant improvements in products across a wide array of industries. The combination of a super alloy`s performance coupled with unique processing advantages positions Liquidmetal alloys for what the company believes will be The Third Revolution(TM) in material science.

This press release may contain "forward-looking statements" that involve risks and uncertainties, including statements regarding our plans, future events, objectives, expectations, forecasts, or assumptions. Any statement in this press release that is not a statement of historical fact is a forward-looking statement, and in some cases, words such as "believe," "estimate," "project," "expect," "intend," "may," "anticipate," "plans," "seeks," and similar expressions identify forward-looking statements. These statements involve risks and uncertainties that could cause actual outcomes and results to differ materially from the anticipated outcomes or result, and undue reliance should not be placed on these statements. These risks and uncertainties may include: our limited operating history in developing and manufacturing products from bulk amorphous alloys; the adoption of our alloys by customers; the commercial success of our customer`s products; our ability to identify, develop, and commercialize new applications for our alloys; competition with suppliers of incumbent materials; the development of new materials that render our alloys obsolete; the ability to manage our anticipated growth; our limited direct experience in manufacturing bulk alloy products; scaling-up our manufacturing facilities; protecting our intellectual property; problems associated with manufacturing and selling our alloys outside of the United States; and other risks and uncertainties discussed in filings made with the Securities and Exchange Commission (including risks described in subsequent reports on Form 10-Q, Form 10-K, Form 8-K, and other filings). Liquidmetal Technologies disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.




--------------------------------------------------------------------------------
Source: Liquidmetal Technologies

Liquidmetal Alloy Is Material of Choice for First Full-Featured, Pocket-Size Personal Computer
Wednesday April 9, 8:30 am ET
Liquidmetal Technologies to Supply High-Strength, Thin-Profile Casing Component for the OQO Ultra-Personal Computer


TAMPA, FL--(INTERNET WIRE)--Apr 9, 2003 -- OQO Incorporated has selected Liquidmetal Technologies (NasdaqNM:LQMT - News) to produce a Liquidmetal® alloy casing component for its much-awaited OQO Ultra-Personal Computer (UPC), slated for launch in the second half of 2003.

At roughly the size of a wallet -- measuring just 4.1 by 2.9 by 0.9 inches and weighing less than nine ounces -- the OQO UPC will be the smallest high-performance, full-featured personal computer running Microsoft Windows XP in pocketable form factor. Its innovative design features an exterior color screen that will be encased in a Liquidmetal alloy frame.

Liquidmetal alloys possess a unique, amorphous atomic structure that enables them to be cast into very thin-profile, precision net-shape parts while maintaining strength and hardness two-to-three times greater than titanium and other commonly used metals. These properties are particularly appealing to electronic product designers faced with the challenge of incorporating ever-increasing functionality and durability into ever-smaller personal devices.

"Having struggled in the past with the limitations of various plastics and metals, including the Apple® Titanium PowerBook® design, we were excited to discover Liquidmetal alloy`s exceptional strength and thin-wall capabilities," said OQO CEO Jory Bell. "And unlike magnesium and titanium components, Liquidmetal alloy is both chemically and aesthetically suitable to be used in a natural, unpainted state and still meet our design criteria. Liquidmetal alloy is among a select group of 21st century technologies that enabled OQO to create the world`s first high-performance pocketable Microsoft Windows XP computer."

"The OQO UPC is an excellent example of the advantages of Liquidmetal alloys when design flexibility, appearance and performance are the driving factors," said Liquidmetal Technologies President and CEO John Kang. "It`s gratifying to see our two technologies come together in this cutting-edge product. We look forward to working with the OQO team as we move to production in the months ahead."

About OQO

Founded in 2000 and headquartered in San Francisco, California, OQO Inc. is developing the OQO ultra-personal computer (UPC), a full-power, full-featured personal computer running Microsoft Windows XP in a pocketable form factor. For additional information about the company and its products, visit www.oqo.com.

About Liquidmetal Technologies

Tampa, Florida-based Liquidmetal Technologies (www.liquidmetal.com) is the leading developer, manufacturer and marketer of products made from amorphous alloys. Amorphous alloys are unique materials that are characterized by a random atomic structure, in contrast to the crystalline atomic structure possessed by ordinary metals and alloys. Bulk Liquidmetal® alloys are two-to-three times stronger than commonly used titanium alloys, harder than tool steel, and relatively non-corrosive and wear resistant. Bulk Liquidmetal alloys can also be molded into precision net-shaped parts, resulting in intricate and sophisticated engineered designs. Liquidmetal Technologies is the first company to produce amorphous alloys in commercially viable bulk form, enabling significant improvements in products across a wide array of industries. The combination of a super alloy`s performance coupled with unique processing advantages positions Liquidmetal alloys for what the company believes will be The Third Revolution(TM) in material science.

This press release may contain "forward-looking statements" that involve risks and uncertainties, including statements regarding our plans, future events, objectives, expectations, forecasts, or assumptions. Any statement in this press release that is not a statement of historical fact is a forward-looking statement, and in some cases, words such as "believe," "estimate," "project," "expect," "intend," "may," "anticipate," "plans," "seeks," and similar expressions identify forward-looking statements. These statements involve risks and uncertainties that could cause actual outcomes and results to differ materially from the anticipated outcomes or result, and undue reliance should not be placed on these statements. These risks and uncertainties may include: our limited operating history in developing and manufacturing products from bulk amorphous alloys; the adoption of our alloys by customers; the commercial success of our customer`s products; our ability to identify, develop, and commercialize new applications for our alloys; competition with suppliers of incumbent materials; the development of new materials that render our alloys obsolete; the ability to manage our anticipated growth; our limited direct experience in manufacturing bulk alloy products; scaling-up our manufacturing facilities; protecting our intellectual property; problems associated with manufacturing and selling our alloys outside of the United States; and other risks and uncertainties discussed in filings made with the Securities and Exchange Commission (including risks described in subsequent reports on Form 10-Q, Form 10-K, Form 8-K, and other filings). Liquidmetal Technologies disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.



Contact:
Contact: Otis Buchanan
Title: Media
Voice: 949-206-8020
Email: otis.buchanan@liquidmetal.com

Contact: David Townsend
Title: Investors
Voice: 813-314-0280 ext. 127
Email: david.townsend@liquidmetal.com


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Source: Liquidmetal Technologies

Amorphous metal combines high strength
with ease of processing
Medical Product Manufacturing News, March 2003

Imagine a metal alloy whose strength exceeds that of steel and titanium, but that can be processed like a plastic. Sound far-fetched? Not to the people at Liquidmetal® Technologies (Tampa, FL; www.liquidmetal.com). A zirconium-based alloy marketed by the company exhibits 2.5 times the strength of some titanium alloys and twice the strength-to-weight ratio of some aluminums. In addition to these exceptional characteristics, the alloy can be cast into net-shaped forms that significantly reduce the need for secondary finishing processes.

The secret to this innovation lies in the alloy`s amorphous structure that eliminates the inherently weak spots found at molecular grain boundaries. "All metals have an amorphous structure in their liquid state," says vice president of medical products Barry Canon. "But our alloy retains this characteristic in its solid state, essentially making it like a metallic glass." Other physical benefits that result from this amorphous structure include a 2% elasticity and twice as much hardness as some stainless steels.

The lack of phase transformation during solidification also holds benefits from processing. With a lower melting machining operations. Because it does not crystallize, the surface finish of parts made from the alloy is smoother and more consistent than that of die-castings.

Combine all of these characteristics with bio-compatibility and resistance to corrosion and wear, and it is easy to see why some companies are seeing applications for the alloy in the medical field. Surgical Specialties Corp.(Reading, PA; www.surgicalspecialites.com), for instance, began producing ophthalmic scalpel blades using Liquidmetal® technology in the third quarter of 2002. Another company, Depuy Orthopedics Inc. (Warsaw, IN; www.depuy.com), recently began using the alloy to produce knee-replacement devices. other possible product applications include pacemaker casings and medical instruments.

Liquidmetal Behaves Like Plastic
Tech-front
(SME)Society of Manufacturing Engineers, March 2003

Scientists at Caltech (Pasadena, CA) and Liquidmetal® Technologies (Tampa, FL) have developed a technology that causes metal to behave like plastic.

These alloys are unique materials that are characterized by a random atomic structure, in contrast to the crystalline atomic structure possessed by ordinary metals and alloys. This class of alloys is called Liquidmctal due to its amorphous or liquid-atomic structure. Rather than changing the atomic structure from a liquid state to a crystalline state, Liquidmetal® alloys gradually increase their viscosity as the temperature decreases. All other metals are either in a solid or liquid state, depending on the temperature.

The superior properties of Liquidmetal alloy are made possible by scientific and technological innovations. First, its amorphous atomic structure is unprecedented for structural metals.

Liquidmetal Pioneers the Materials Frontier
Seated around a midtown Manhattan conference table packed with hedge fund managers, the pitch sounded familiar: A new materials technology that represented the latest materials frontier since steel and thermo-plastics. Developed by a scientific dream team at Caltech, this material`s unique atomic structure makes it stronger and lighter than its counterparts, augmenting a broad array of products ranging from mobile phones to golf clubs.

Is this a product of nanotechnology® Close, but not quite. But there are several reasons investors should keep an eye on Tampa, Florida`s Liquidmetal Technologies (LQMT). With strong management, clients, and technology validation, we think Liquidmetal is an outstanding investment prospect. Its characteristics also boast a striking resemblance to nanostructured materials and Liquidmetal represents a blueprint that nanomaterials startups would be wise to emulate.

CEO John Kang has become the Daniel Boone of the materials landscape, corralling vast IP and traveling into uncharted territory. He founded software firm Medical Manager and sold it to WebMD [HLTH] in 2000 for $3.2 billion. His belief that Liquidmetal could have a commercial impact as big as plastics in the 1960s drew him out of retirement: He went from being an investor to the company`s CEO in 2001 and guided it to a NASDAQ IPO last May.

Amorphous Metals

Liquidmetal is an amorphous alloy containing five elements: zirconium, beryllium, titanium, copper, and nickel. Most metals used today are alloys, mixed together to get desired properties. They form ordered crystalline structures as they solidify.

But Liquidmetal rapidly cools its alloy to create a tightly packed, but random atomic structure. While one single crystal is close to perfect, a crystalline structure is not. The problem lies in the gaps where the crystals touch each other, which cause weakness and rust. Corrosion happen when the crystals with open ends attract oxygen. But with Liquidmetal, the atoms` different sizes and random arrangement means that no groups of atoms can easily move past one another. This makes it very dense and relatively non-corrosive and wear resistant. Liquidmetal`s greater performance, however comes with a tradeoff. It has poor electrical and thermal conductivity and melts at 900 degrees Celsius. Titanium, for example, melts at 1700 degrees Celsius. This rules out many automotive and aerospace applications.
Liquidmetal Pioneers the Materials Frontier
(Cont`d --- Reprinted courtesy of Forbes Nanotech Report -- www.forbesnanotech.com)
Real Products on the Market

Liquidmetal alloys are melted and molded into precision net-shaped parts like plastics. Low-cost thin plastic is the standard in most of today`s mobile phones. Handset vendors would love to incorporate stronger metals into their phones, but they are costly and heavy. Liquidmetal offers superior benefits to other metals - 5 times stronger than titanium with a strength-to-weight ratio more than double that of steel - and yet also lightweight and not too expensive.

Liquidmetal is gaining traction in the $60 billion worldwide mobile handset market because its casing is light and sturdy enough to hold the large color displays flying off the shelves in Asia. This quarter, it supplied the casings for Samsung`s new SCH-X199 phone as part of a $400 million order from China Unicorn [CHU]. Samsung, one of the world`s fastest growing major handset manufacturers, has indicated that in 12 months, 50% of its phones will have color displays. This is a huge potential windfall for the company.

Depending upon the sales, the total order for the SCH-X199 could range from 1-12 million units. Liquidmetal expects more than 60% of 2003 revenues will come from the mobile handset market, with the Samsung revenues recognized in Q4 `02.

The company has other markets in mind, particularly the defense industry. It has already gained momentum in this market, with $5.25 million from the 2003 Defense Appropriations bill to explore military and defense applications of its alloys and a $2 million DARPA grant to make stronger armor piercing ammunitions to penetrate tanks. A major hedge fund manager I talked to that owns LQMT thinks this business alone could be worth $1 billion by 2005.

There are many other Liquidmetal products in development today including TAG Heuer watch cases, surgical instrument components for a Johnson & Johnson [JNJ] subsidiary and golf clubs. Ping and Cleveland Golf will introduce clubs made with Liquidmetal in the first half of 2003 that can outdrive titanium counterparts.

Lessons for Nanomaterials Companies

Liquidmetal made it to the public market without funding from venture backers, but it took years of development to create a commercial product. One of the hurdles for Liquidmetal and other new material producers is the substantial increase in cost to customers. With nanomaterials, the challenge is to make added performance economically viable. Liquidmetal was only able to break through commercially after development partners saw that its high performance could be achieved at a reasonable cost. The company continues to try to drive down the cost of its materials through manufacturing efficiency.

As Liquidmetal creates more success, the amorphous metals arena is bound to get crowded. Several industrial leaders are already working on developing their own amorphous metals. Honeywell [HON] began its amorphous metal R&D efforts in 1970 and its Metglas Solutions division now produces thin amorphous metals used in electrical distribution transformers, high frequency magnetic components for power electronics, and material for anti-theft tags. GE [GE] is also developing iron-based amorphous materials for transformer cores and aircraft chassis. Boeing [BA] is funding research of aluminum-based amorphous alloys to reduce the weight of its planes. Alcoa [AA) is also committing R&D dollars to create a low-cost sheet making process for iron and aluminum-based amorphous alloys. Liquidmetal`s main focus is to maintain a dominant position as the industry grows. "There will be competition, but we want to make sure there are no competing standards," says Kang. "We want one standard, and we want to be it."

Liquidmetal has claimed all pieces of IP relating to amorphous metals and also partnered with more than 25 universities. "We can`t stop all discoveries, but we want to make sure that without us, their dis- coveries are worthless." Says Joe Poon, a UVA physics professor working with Liquidmetal on developing amorphous steel alloys. "There are two important aspects to amorphous metals. The discovery and the processing - Liquidmetal has cornered both.
Liquidmetal Pioneers the Materials Frontier
(Cont`d --- Reprinted courtesy of Forbes Nanotech Report -- www.forbesnanotech.com)
LQMT Stock

Right now, LQMT stock is a battleground. The stock has overwhelming insider ownership amounting to north of 65% of outstanding shares. The largest institutional shareholders Fidelity and Putnam, Represent less than 5% of outstanding shares. Another notable institutional holder is legendary commodities trader Paul Tudor Jones` Tudor Investments. Aggressive short-sellers are currently short an overwhelming 3 million of the company`s 5 million shares in public float.

The biggest weakness short-sellers point to is manufacturing: the company`s inexperience in high-volume manufacturing and its yield problems in previous quarters. Liquidmetal initially struggled with low molding yields on its phone casings, but Kang says the problem was temporary and is being addressed. One major step was Liquidmetal`s recent hiring of a leading manufacturing exec from Alcoa who ran the $1.3 billion Howmet Castings structuring castings business.

A recent Barron`s article said that manufacturers are unlikely to use a single-source supplier like Liquidmetal? valid concern because the company is the only one mass producing bulk alloys. Yet cell phone manufacturers will always be able to use their current plastic material as a back up, given the mold designs are interchangeable. This is another of LQMT`s advantages. Barron`s also downplayed LQMT`s Samsung deal as a "limited contract." But Kang tells me their just in time relationship with Samsung is sound and ongoing. Without mobile handset revenues, Liquidmetal still tripled revenues year over year in its recent Q3 ending September 30, with sales of $3.7 million from coatings, development contracts and bulk alloy parts for an MP3 player. Before its IPO, Wall Street forecast Liquidmetal revenues of $200 million in 2003. This estimate has since been ratcheted down to $140-160 million. At a recent price of $9.50, LQMT is trading at less than 3 times expected 2003 sales - hardly a nosebleed valuation for a company expected to improve next year`s sales by more than 1,000% over 2002. With $40 million in cash and equivalents and no long-term debt, Liquidmetal`s balance sheet is sound, but can support only a limited expansion of manufacturing capabilities.

Merrill Lynch forecasts LQMT sales of $7 million in Q4 `02 and $15 million in Ql `03, with major orders coming in from Samsung, LG Electronics, and TCL. Hedge fund manager Edward Neugeboren of Third Ridge Capital owns a big chunk of the stock and thinks it is worth over $15a share in the near term based upon a valuation of 4 times estimated 2003 revenues.

"This is a revolutionary technology with payoff today," says Neugeboren. "Liquidmetal has a similar reward profile to investing in biotech and nanotech, but with significantly reduced risk given that there is product on the market today and virtually limitless applications.

Published jointly by Forbes Inc. & Angstrom Publishing LLC
www.forbesnanotech.com