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O.C. BUSINESS PLUS | ORANGE COUNTY EARNINGS

SRS Labs Inc.:

February 22, 2001

The Santa Ana provider of audio- and voice-enhancement technology products reported a net loss of $11.5 million, or 93 cents a share, for 2000, compared with a net loss of $1.7 million, or 15 cents a share, for 1999. Revenue declined 22% to $28 million.

The company said it is anticipating a soft financial performance in the first and second quarters of the current year, but that its businesses should improve in the second half.

In the year-ago first quarter, SRS Labs lost $4.3 million, or 36 cents a share, including a charge of $3.1 million, or 26 cents a share, related to an equity investment from Microsoft Corp. Excluding the charge, the company lost $1.3 million. Revenue was $7.2 million.

In the second quarter last year, the company lost $4.1 million, or 33 cents a share, on revenue of $6.6 million.

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