Behringer Seeks Seat on Deswell's Company Board

Uli Behringer, Chairman and CEO of MUSIC Group has notified Deswell Industries Inc. of his intention to seek a seat on the company's board.

As the holder of a significant portion of Deswell stock, Behringer has expressed concern about the company's performance in recent months.

"As a substantial shareholder, I'd like to have more input in the strategic focus and direction of the company. Accordingly, I request that the company appoints me to its board of directors. I am a long term holder of Deswell shares and I have the requisite experience and industry knowledge to advise the company as it seeks new avenues for growth and a return to profitability." Behringer says.

Deswell, with its subsidiaries Kwanasia and Jetcrown, a manufacturer of consumer industrial products, including electronic products for the pro-audio market has shown a substantial decline in annual sales and profitability as well as a major turnover of key management in the recent period which raises strong concerns.

Behringer is requesting that the company calls a special meeting within the next 60 days to consider his appointment.