Hathaway Signs Letter Of Intent To Acquire OptiCon

St. Petersburg, FL -- Hathaway Corporation announced that the Company has signed a Letter of Intent to acquire 100% of OptiCon Systems for $42,000,000. The acquisition should be completed by the end of July 2005. Information on the acquisition, including OptiCon's business plan and its proprietary technology and its original patent holders, should be available to all Hathaway investors.

Sam Talari, the acting CEO of Hathaway Corporation, said, "We are delighted to have an opportunity to own a 100% position in OptiCon Systems Inc. OptiCon provides Fiber Optic Network Management system that currently runs on over 70% of the major telecoms in the United States such as Adelphia, Charter, Comcast, Comcast/AT&T, Cox, Time Warner, & BrightHouse. OptiCon was developed by a major Fortune 100 company. The completion of this acquisition will have a significant positive effect on our revenues for 2005."

SOURCE: Hathaway Corporation