SRS Labs and VIZIO Develop Multi-Year Strategic Partnership

Tue Jun 10, 2008 11:00am EDT

* Reuters is not responsible for the content in this press release.

- New licensing agreement provides VIZIO access to SRS technologies for VIZIO
branded TVs and accessories

SANTA ANA, Calif., June 10 /PRNewswire-FirstCall/ -- SRS Labs, Inc.
(Nasdaq: SRSL), the industry leader in surround sound, audio and voice
technologies, announced today that they have formed a long-term strategic
partnership with U.S.-based VIZIO granting the HDTV manufacturer access to
SRS' portfolio of audio and surround sound technologies for their TV and
accessory products. VIZIO's first technology implementation will be SRS
TruSurround XT(R) in flat panel TVs, beginning in Q2 2008.
    (Logo:  http://www.newscom.com/cgi-bin/prnh/20070322/LATH036LOGO )
    VIZIO, the number 2 flat panel TV Brand in North America and number 8
worldwide for Q1 2008, is one of the industry's fastest growing brands of
HDTVs. Offering some of the most affordable HDTVs on the market, VIZIO also
provides state-of-the-art features and technologies making them an ideal
partner for SRS. The pairing of the two companies ensures consumers the best
possible entertainment experience.
    SRS TruSurround XT is a sophisticated multichannel processing technology
which takes the surround content found in television shows and movies and
creates an immersive theater-like entertainment experience over the TV's
built-in stereo speakers. With the size of the bezels shrinking in each new
generation of flat panel TVs, audio quality becomes a greater concern because
the drivers are also becoming increasingly smaller. With TruSurround XT, it is
possible to provide correction for even the smallest speakers, regardless of
whether they are down-firing or side-firing. The result is an engaging
surround sound effect without the clutter, wires, added expense or complexity
of a multi-speaker configuration.
    "VIZIO prides itself on offering the most affordable HDTVs at any size,
yet, we also want to provide our end users with the most current features and
quality available," said John Morriss, VIZIO vice president and general
manager of VIZIO's TV Business Unit. "With the physical constraints of today's
slimmer FPTVs, an optimal audio experience is a greater challenge.  Working
closely with SRS' engineering team to custom-tune TruSurround XT to fit our
product requirements, we've been able to ensure that our customers receive the
highest quality surround sound experience from VIZIO TVs. We are very pleased
to partner with SRS Labs to deliver state-of the-art audio performance that
supports our aggressive business model," added Morriss.
    A 2007 Consumer Electronics Association (CEA) report found that 76% of all
flat panel TVs are used without a separate audio amplification system and,
therefore, consumer are left to rely on the internal speakers of the
television when watching TV.  In another study conducted by MarketTools, when
asked what consumers would like to change about the TV they watch most often,
consumers ranked "Better Sound" second, just behind larger screen size.
Through the inclusion of SRS TruSurround XT in their TVs, VIZIO is providing
consumers a cost effective solution to experience superior sound with high
quality surround effects, drastically improving the experience of watching DVD
movies and multichannel TV broadcasts.
    "We are excited about this new strategic relationship with one of the
leading flat panel TV brands in the US. The combination of our innovative
technology designs and the ability to customize TruSurround XT for optimum
performance with VIZIO products enables us to provide a great entertainment
experience without any extra components, wires, or expenses," said Allen
Gharapetian, VP of Marketing for SRS Labs.
    VIZIO will initially ship three models with SRS TruSurround XT, which
includes a 42 and a 47-inch LCD plus a 50-inch plasma. Starting in the second
quarter of 2008, these models will be available at Costco, Sam's Club,
Wal-Mart, Sears, K-Mart and Circuit City.
    To celebrate this announcement, SRS Labs is running a sweepstakes together
with its sponsoring partner, VIZIO, to give away 3 flat panel TVs featuring
SRS TruSurround XT surround sound technology (a 42" and 47" LCD and a 50"
Plasma).  The sweepstakes will take place June 10 - July 4, 2008.  To enter
for your chance to win, please visit http://www.srslabs.com/TVsweepstakes.
    About VIZIO
    VIZIO, Inc. "Where Vision Meets Value," headquartered in Irvine,
California, is America's #1 20" and above LCD HDTV Company. The VIZIO brand
has been seen and heard on TV and radio, including NBC's Today Show, ABC's
Good Morning America, Dr. Phil, The Ellen Show and Live with Regis and Kelly,
won numerous awards from leading publications including a #1 Ranking in the
Inc. 500 for Top Companies in Computers and Electronics, Good Housekeeping's
Best Big-Screens, CNET's Top 10 Holiday Gifts, PC World's Best Buy, Sound &
Vision's Editors Choice, Home Theater Magazine's Rave Award, PC Magazine's
Editors Choice, AVRev.com's #1 Product We Love the Best and The Perfect
Vision's Products of the Year. VIZIO is bringing vision to the consumer
electronics market through practical innovation. VIZIO products offer
customers advanced technologies at the most affordable value. Products include
the VIZIO, Maximvs and Gallevia lines of Plasma and LCD HDTVs.  Many of these
products can be found at BJ's Wholesale, Circuit City, Costco Wholesale, Sam's
Club, Sears, Wal-Mart, and other retailers nationwide along with authorized
online partners. For more information, please call 888-VIZIOCE or visit on the
web at http://www.VIZIO.com.
    About SRS Labs, Inc.
    Founded in 1993, SRS Labs is the industry leader in audio signal
processing for consumer electronics.  Beginning with the audio technologies
originally developed at Hughes Aircraft, SRS Labs holds over 150 worldwide
patents and is recognized by the industry as the foremost authority in
research and application of human auditory principals. Through partnerships
with leading global CE companies, semiconductor manufacturers and software
partners, SRS audio, surround sound and voice processing technologies have
been included in over one billion electronic products sold worldwide including
HDTVs, mobile phones, portable media devices, PCs and automotive
entertainment. In fact, SRS Labs is the de-facto standard of HDTV audio
processing with nine of the top ten name brand flat panel TVs featuring SRS
technology. Additionally, SRS Labs surround sound solutions provide the
professional broadcast and recording industries with high-performance
production, back-haul, storage, and transmission capability. SRS Labs supports
manufacturers worldwide with offices in the US, China, Europe, Japan, Korea
and Taiwan. For more information, visit http://www.srslabs.com.
    Except for historical information contained in this release, statements in
this release, including those by Mr. Gharapetian, may constitute
forward-looking statements regarding our assumptions, projections,
expectations, targets, intentions or beliefs about future events that are
based on management's belief, as well as assumptions made by, and information
currently available to, management.  While the Company believes that its
expectations are based upon reasonable assumptions, there can be no assurances
that the Company's goals and strategy will be realized. Numerous factors,
including risks and uncertainties, may affect the Company's actual results and
may cause results to differ materially from those expressed in forward-looking
statements made by or on behalf of the Company. Some of these factors include
the acceptance of new SRS Labs' products and technologies, the impact of
competitive products and pricing, the timely development and release of
technologies by the Company, general business and economic conditions,
especially in Asia, and other factors detailed in the Company's Form 10-K and
other periodic reports filed with the SEC.  SRS Labs specifically disclaims
any obligation to update or revise any forward-looking statement whether as a
result of new information, future developments or otherwise.
     SRS Labs, Inc. Contact:                Press Contact:
     Cyndee Pelino, Sr. Marketing Manager   Jim Noyd, Noyd Communications Inc.
     949-442-5518                           310-374-8100
     cyndeep@srslabs.com                    jim.noyd@noydcom.com

SOURCE  SRS Labs, Inc.

Cyndee Pelino, Sr. Marketing Manager of SRS Labs, Inc., +1-949-442-5518,
cyndeep@srslabs.com; or press, Jim Noyd of Noyd Communications Inc.,
+1-310-374-8100, jim.noyd@noydcom.com, for SRS Labs, Inc.
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