SOURCE: Hathaway Corporation

December 20, 2006 07:31 ET

Hathaway Corporation (HWYI) Extends the Shareholder "Record Date" to February 19, 2007 for the Spin-Off of Its First Subsidiary, OptiCon Systems, Inc.

DALLAS, TX -- (MARKET WIRE) -- December 20, 2006 -- Hathaway Corporation (PINKSHEETS: HWYI), a leading global provider of communications and telecommunications software and services, today announced that the board of directors has extended the previously announced "record date" of December 19th, 2006 to February 19th, 2007 for determining the record holders of Company common stock for purpose of receiving the "spin-off" distribution shares to all of the Company's shareholders.

Previously we were compelled to extend the announced record date due to delays in preparation of the ongoing audit and the registration statement of OptiCon Systems, Inc. After proper due diligence and further consultation with the NASD, our SEC attorney and CPA, we are happy to inform our investors of the new record date of February 19th, 2007. We feel the new record date will allow us sufficient time for our preparation and filing of our registration statement. The new record date will also be closer to the distribution date of the dividend.

OptiCon's spin-off is an essential part of the Hathaway business model in unlocking shareholder value. OptiCon's private valuation of $84M and its market potential as the leading fiber optics management system morphs the current market value of Hathaway (HWYI).

All Hathaway shareholders of record at the close of business on February 19th, 2007 will be eligible to receive one share of OptiCon Systems, Inc. common stock for every two shares of Hathaway common stock owned as of the "record date" on the "distribution date."

The "distribution date" of the spin-off dividend or shares of OptiCon will be announced when our registration statement with SEC is active and when NASD provides the trading authorization and a trading symbol. We expect the approximate "distribution date" to be in the beginning of the second quarter of 2007.

A complete summary of the spin-off can be found at www.hathawayglobal.com/opticonspinoff.asp

About Hathaway Corporation

Hathaway Corporation develops and acquires undervalued companies that bring a shift in how communications are delivered and serviced globally. Starting with OptiCon Systems, which is used by global 500 companies, Hathaway will continue to seek out and capitalize on emerging technologies that will change the way the world communicates. Hathaway brings the communications solutions of the future to today's business marketplace. To request further information about Hathaway, please email us at investors@hathawayglobal.com.

Safe Harbor

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.

Contact Information

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