TORONTO, August 12, 2001 (PRIMEZONE) -- Witnet International, Inc (OTCBB:WTNT)announced that it will develop an enhanced version of Mobilick utilizing Wireless Public Key Infrastructure (WPKI).
Current versions of Mobilick already utilizes encryption algorithms in its data exchange between the remote user and the host computer. However by utilizing WPKI technology for user identification and data exchanges, it will satisfy security requirements for commercial applications including banking and e-commerce. Mobile e-commerce is expected to grow rapidly over the next three years.
"This is the first product to be developed as part of the Co-Development relationship we have signed with K-Sign Inc. By using the synergy between our two companies, we will add value to both our company's products," said Mun Su Han, CEO/President of Witnet.
Additional revenues of approximately $6 million in 2004 with gross profit of approximately $2 million are expected for this product alone.
About Mobilick:
Mobilick allows control over internet-connected PCs through PDAs (Personal Digital Assistants) that are connected to the wireless internet.
By applying thin computing solutions, users can run complex applications via PDAs and Web Panels while using only minimum system resources of the device.
Mobilick was launched in Japan and Korea late last year and is now being introduced in North America.
http://www.mobilick.net or http://www.mobilick.net/eng/home.html
About Witnet:
Witnet International Inc., (OTCBB:WTNT) is a software development company with offices in Seoul, South Korea and Toronto, Canada. Business partners include HP Japan and South Korea, LG Telecom and other major technology companies.
More information about Witnet and its products can be found at the Company's Website, http://www.witnet21.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the ``Act''). In particular, when used in the preceding discussion, the words ``plan,'' ``confident that,'' ``believe,'' ``expect,'' or ``intend to,'' and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any forward-looking statements.