Tvia Believes Lawsuit Is Without Merit

Tvia Believes Lawsuit Is Without Merit

SANTA CLARA, Calif., Oct. 10 /PRNewswire-FirstCall/ -- Tvia, Inc. (NASDAQ:TVIA), a leading provider of digital display processors for Advanced Flat-Panel TVs, broadcast digital DVRs, consumer displays, and monitor products, reported today that a shareholder class action lawsuit was filed against Tvia and certain of its officers in the United States District Court for the Northern District of California. The lawsuit alleges violations of the federal securities laws and purports to seek damages on behalf of a class of shareholders who purchased common stock of Tvia during the period between August 8, 2006 and September 27, 2006. Tvia believes the lawsuit is without merit and intends to seek a dismissal of all charges.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050419/SFTU130LOGO )

About Tvia: Tvia, Inc. is a fabless semiconductor company that designs and develops digital display processors for digital LCD, PDP, HD, SD, and progressive-scan TVs, as well as other broadcast and consumer display products. Tvia owns and operates one of the world's leading independent TV design centers, providing manufacturers with proven TV system designs, and allowing manufacturers to produce high quality flat-panel televisions at low cost with the short time to market. The combination of Tvia's TrueView display processors and leading TV system designs gives Tvia's manufacturing customers the advantage for building among the most cost-effective, highest quality display solutions on the market. More information about Tvia is available at www.tvia.com.

Information in this release that involves Tvia's expectations, beliefs, plans, intentions or strategies regarding the future are forward-looking statements that involve risks and uncertainties. Forward-looking statements in this press release include statements as to Tvia's focus, strategy and progress, Tvia's development of new products, the features and benefits of Tvia's products, product acceptance and introduction by customers, and Tvia's financial performance. All forward-looking statements included in this release are based upon information available to Tvia as of the date of this release, and Tvia assumes no obligation to update any such forward-looking statements. These statements are not guarantees of future performance, and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences or risks associated with our business are discussed in the Company's Annual Report on Form 10-K for the year ended March 31, 2006 filed on June 27, 2006, and Form 10-Q for the quarter ended June 30, 2006 filed on August 11, 2006, with the Securities and Exchange Commission ("SEC"), and in other reports filed from time to time with the SEC. These risks include, but are not limited to, the slower than anticipated emergence of the flat panel DTV market, our ability to specify, develop or acquire, complete, introduce, market and transition to volume production new products and technologies in a timely manner, and the extent and duration of the current economic and business environment.

Photo: http://www.newscom.com/cgi-bin/prnh/20050419/SFTU130LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk photodesk@prnewswire.com
Source: Tvia, Inc.

CONTACT: Diane Bjorkstrom, Chief Financial Officer, +1-408-982-8593, or
dbjorkstrom@tvia.com

Web site: http://www.tvia.com/

-------
Profile: intent