IRVINE, Calif., Feb. 11, 2004 (PRIMEZONE) -- In a major development that significantly impacts the Company's operations and revenue potential in a very positive manner, Military Communications Technologies, Inc. (OTCBB:MLTA), a provider of wireless technology for homeland security and defense applications, announced today that it has entered into a new agreement for additional revenue streams, as well as now becoming a lead global marketer of the groundbreaking PC4 and SpectruCell SDR wireless technologies. Previously, the Company had the rights to market the technologies in the North American market only, these rights have now been expanded substantially. PC4, that has significant military and homeland defense applications, and SpectruCell SDR for existing commercial wireless networks, 3G networks and the emerging wireless handheld device markets, were both developed by the engineering team at SDR Technologies Pty Ltd., in Melbourne Australia, a private company in which Military Communications Technologies has 15% ownership interest.
"We live today in an environment of global markets where marketing in one country or region inherently impacts others. Our efforts in marketing SpectruCell SDR and PC4 to North America have resulted in positive results for our Australian affiliate. We have therefore come to a new agreement with MSDR Australia appointing MLTA as a Lead Marketer of these products throughout the world, and also entitling MLTA to 25% of all current and future global revenues from the product sales, irrespective of whether such global sales were originally introduced by MLTA," stated Mr. Jeremy Norton, a Director of Military Communications Technologies.
Mr. Jason May, Director of Military SDR Technologies in Melbourne Australia added, "SpectruCell and PC4 SDR are rapidly gaining a greatly expanded and much accelerated interest in both the Commercial and Military markets from several multi-national technology corporations and Telco's, most of whom are household names and in many instances the largest in the world in their field. Business development talks with several of these giants are at the documented agreement and contract stage, and the company expects to be able to announce the completion of these agreements in the near future. He added, "It will help MSDR considerably to have a unified sales and marketing approach to the global market, with a sales and marketing headquarters in the United States. Military Communications Technologies is the natural choice, as they have performed well in garnering attention and interest in our SDR wireless technologies in what we consider the leading market in the world -- North America."
SpectruCell SDR has already generated some initial small revenues from the sale of development kits to network providers for the development of commercial wireless applications based on SpectruCell SDR. Per the new agreement with its Australian affiliate, Military Communications Technologies is entitled to 25% of the licensing revenue on the SpectruCell-based applications worldwide. These revenues are expected to increase substantially in the last part of 2004. MLTA is currently planning larger facilities now required for substantially expanded operations globally, in California.
Both Military SDR Technologies Ltd., and Military Communications Technologies are currently in talks for several additional contracts in the military, homeland defense, and commercial telecommunications fields. The reaction to the SpectruCell and PC4 SDR wireless technologies would seem to indicate that the company products have few, if in fact any, competitors at a similar stage of development to MSDR in the SDR field.
About Military Communications Technologies
Military Communications Technologies, Inc. is a technology company involved in the development and distribution of proprietary software defined radio (SDR) for both large-scale Commercial and Military mobile wireless communication network applications. The Company's core product, PC4 is specifically targeted to the demands of the Military and Homeland Defense agencies for large-scale defense grade reconfigurable wireless communications systems. PC4, which stands for Programmable, Command, Control, Compute, and Communicate, is a next-generation SDR framework and proprietary operating system uniquely designed for interoperable, lightweight and mobile military communications systems. The PC4 framework is also especially suitable for radar and high-speed digital RF and GSM surveillance systems. The Company's proprietary SpectruCell(tm) technology offers commercial wireless providers a cost-effective, software-based method to upgrade systems to next-generation standards and makes networks interoperable with most wireless protocols.
Statements in this release, which relate to other than strictly historical facts, including statements about the Company's plans and strategies, as well as management's expectations and new and existing products, technologies and opportunities, market growth, demand for acceptance of new and existing products, are forward-looking statements. The words, "believe," "expect," "anticipate," "estimate," "project," and similar expressions identify forward-looking statements that speak only as the date hereof. This press release contains certain forward-looking statements regarding Military Communications Technologies, Inc. ("MLTA"), its business prospects and results of operations that are subject to certain risks and uncertainties posed by many factors and events that could cause MLTA's actual business, prospects and results of operations to differ materiality from those that may be anticipated by such forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by MLTA in this news release and other reports filed with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect MLTA's business.