<PAGE>

                                                                EXHIBIT (a)(14)

                                                     NEWS
                                                     FOR IMMEDIATE RELEASE

                                                     Contact:
                                                     Mike Kilroy or Rick Havacko
                                                     Maples Communications
                                                     (949) 253-8737
                                                     mkilroy@maples.com

  EMACHINES, INC. AND EM HOLDINGS, INC. ANNOUNCE AGREEMENT TO REMOVE TEMPORARY
           RESTRAINING ORDER; TENDER OFFER EXTENDED TO DEC. 28, 2001

     IRVINE, Calif., Dec. 19, 2001 -- Earlier today, the parties in the matter
of David Packard, on behalf of himself and all other similarly situated, v.
eMachines, Inc. reached an agreement in principle to, among other matters,
withdraw and vacate the temporary restraining order previously issued enjoining
the merger. As part of the agreement in principle, the plaintiffs dropped their
attempt to seek other injunctive relief as well. The agreement in principle is
conditioned upon execution of definitive documentation.

     In addition, the tender offer for all the outstanding shares of common
stock of eMachines made by Empire Acquisition Corp., a wholly owned subsidiary
of EM Holdings, has been extended until 9:00 a.m. Eastern time on Friday, Dec.
28, 2001. The tender offer had been scheduled to expire at 9:00 Eastern time on
Thursday, Dec. 27, 2001.

About eMachines, Inc.
eMachines, Inc. (OTCBB:EEEE) is a leading provider of affordable, high-value
personal computers. Founded in September 1998, eMachines began selling its
low-cost eTower(R) desktop computers in November 1998. In June 1999, eMachines
sold the third-highest number of PCs through retailers in the United States,
according to leading market research organizations, and presently holds this
number three market share position. Since inception, eMachines has shipped more
than four-million PCs through leading national and international retailers,
catalog and online merchandisers. Approximately one of every two eMachines
consumers is a first-time PC buyer, based on owner registrations with eMachines.
eMachines' Web site is located at http://www.emachines.com.

