General DataComm Sells its Multimedia Division to Miranda Technologies

Middlebury, CT, and St. Laurent Quebec, July 9, 2001 - General DataComm Industries, Inc [NYSE: GDC] today announced that it has sold its Canadian subsidiary, General DataComm Ltd. which now consists of its Montreal-based Multimedia Division to Miranda Technologies Inc. of St. Laurent, Quebec for $8.5 million in cash plus 20 percent of multimedia revenues for two years. Initial net proceeds from the transaction approximated $6.5 million after related fees, expenses, and liabilities. All of the Canadian subsidiary's assets and personnel supporting GDC's Network Access business were transferred to General DataComm, Inc., a wholly owned subsidiary. The Canadian marketplace remains an important part of the Company's North American Network Access customer base.

Miranda, a privately held firm specializing in video technologies, acquires an award winning interactive MPEG-2 video platform that complements its world-class portfolio of video/audio distribution and transport products including its DV-45 broadband digital video CODECs. The continuing Miranda and GDC alliance broadens the market opportunity for both companies.

"This is a win-win for all involved," said Chuck Johnson Chairman and Chief Executive Officer of GDC. "There is a bright future for the multimedia products we helped develop and for the employees who pioneered their development."

Designed from inception to support carrier based provisioning of video services such as distance learning and telemedicine, the Multimedia Division's MAC 500 has already gained widespread acceptance among carriers including Verizon and SBC. Widely adopted in support of distance education, the platform is deployed in schools and universities in Maine, Texas, North Dakota, Nebraska, Maryland, New York, Kansas, Missouri, and the Provinces of Quebec and Ontario.

About General DataComm, Inc.

General DataComm [NYSE: GDC] is a leader in the design, development, and manufacture of network access solutions for major service provider, government, and private networks.

Contacts:

Frank Giannone, Director Marketing Services
General DataComm, Inc
6 Rubber Avenue
Naugatuck, CT 06770
Phone: 203-729-0271

About Miranda

Miranda Technologies is a world leader in the research, development and manufacture of digital video and audio equipment that is used in all stages of production and distribution, from point of acquisition through to transmission. With three major divisions -- Broadcast, AV, and Media Transport -- the company's products have become standards in major TV networks, telcos, post-production facilities and AV installations around the globe, providing conversion, command and control, presentation, monitoring, and video/audio distribution and transport. While Miranda's headquarters are in Montreal, it also has major offices in Paris, Tokyo, Los Angeles, and Wallingford, U.K. The company's products are also represented worldwide by a network of professional distributors and dealers.

Miranda Contacts:

Robert Young
Tel: 514-333-1772
ryoung@miranda.com
www.miranda.com