MIAMI, Nov. 29, 2001 (PRIMEZONE) -- Today E-Rex, Inc (OTCBB:EREX) and Valcom Ltd announced their accelerated focus to complete development of six prototypes of the new Dragonfly Information and Internet Appliance during Q1 2002. E-Rex recently stepped up payments for product development to Valcom under a new mutually agreed upon schedule.
"Valcom's dedicated Dragonfly development team is focused full-time on finishing these prototypes," said Paul McPherson, Valcom's President. "We fully expect to meet the projected completion target of Q1 2002."
Recently E-Rex and Asian Micro Holdings Group mutually agreed not to pursue an exclusive manufacturing arrangement for the Dragonfly, however, once these prototypes are completed, E-Rex management will be exploring links with potential future partners, which may include Asian Micro. "We are confident that we will be successful in our search for a suitable partner to bring this ground breaking new product to market," said Carl Dilley, E-Rex President.
Parties interested in applying to beta test one of the first Dragonfly prototypes should contact Mitch Ackles via email at mackles@e-rex.net for further information.
About Dragonfly
The Dragonfly will be the first portable device providing a complete mobile office solution for business on the road. Users will be able to print, fax, copy, scan, check e-mail and even browse the Internet all from one device. In addition, the Dragonfly will be connectable to PDA's and desktop computers for use as an external peripheral device.
About E-Rex, Inc.
Headquartered in Miami, E-Rex Inc. is a technology company dedicated to designing and the future production of stand-alone peripherals and direct Internet access products, both cellular and satellite. Further details on the company and its products can be found at http://www.e-rex.net.
This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 or Section 21E of the Securities and Exchange Act of 1934 and is subject to the safe harbor created by these sections. E-Rex, Inc. assumes no obligation to update the information contained in this press release. Certain information included herein may contain statements that are forward-looking, such as statements relating to plans for future expansion and other business development activities as well as operating costs, capital spending, financial sources and the effects of competition. Such forward-looking information is subject to changes and variations which are not reasonably predictable and which could significantly affect future results. Accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of the Company.