Announces Agreement with Foster City
for New Corporate Headquarters
SAN MATEO, Calif. - August 8, 1996 - Electronics for Imaging, Inc. (NASDAQ:EFII), the fast-growing pioneer in the digital color printing market, today announced that Foster City has signed an agreement to sell 35 acres of land that the company will use to build a new corporate headquarters. The sale price for the site, which commands a waterfront view of San Francisco, is $24.5 million.
Foster City Mayor, Jim Lawrence, stated "EFI will be a great addition to our master planned community. We are excited that EFI has chosen to locate their corporate campus on one of the premier sites in Foster City. We look forward to working with EFI and witnessing their growth and development in the years to come."
"EFI is looking forward to becoming a major part of the Foster City community," said company president and CEO Dan Avida. "The Foster City land is a terrific location, both for us as a company and for our employees."
EFI plans to begin development on the Foster City property immediately. The company's goal is to complete a 250,000-square-foot building for mid-1998 occupancy. Further plans for a corporate campus environment are also underway.
"We are very excited to have a location that allows us the flexibility to control our own destiny and proactively manage our future real estate needs," said Eric Saltzman, EFI's vice president, strategic relations.
Fiery Color Servers are installed around the world in leading corporations, advertising agencies, graphic design studios and print-for-pay businesses. Founded in 1989, the company has its headquarters in San Mateo, Calif. EFI employs more than 300 people and has 22 worldwide sales offices. Its stock is traded on the NASDAQ national market system under the symbol EFII.
More information regarding Electronics for Imaging may be obtained by calling the company directly at (415) 286-8600, or through public sources, including the company's SEC filings. Electronics for Imaging may also be reached on the World Wide Web at http://www.efi.com.
EFI, the EFI logo, Fiery, the Fiery logo, the Fiery Driven logo, Fiery XJ and Fiery XJe are trademarks of Electronics for Imaging, Inc. Fiery and EFI are registered with the U.S. Patent and Trademark Office. All other terms and product names may be trademarks or registered trademarks of their respective owners, and are hereby acknowledged.
For more information contact:
Eric Saltzman
Vice President, Strategic Relations
(415) 286-8382
