POMPANO BEACH, Fla., Dec. 2, 2003 (PRIMEZONE) -- Koala International Wireless, Inc. (OTCBB:KIWI), a developer and integrator of web-based, wireless network applications and wireless device technology, announced today it has acquired 100 percent of a proprietary peer-to-peer software developed by Dylan Morris Software ("DMS") of Los Angeles California on a performance and milestone payment formula totaling 1,000,000 common shares of KIWI stock. Dylan Morris will commence formal employment as Senior Vice President, Software and Process Design with KIWI focusing primarily on completion of a proprietary peer-to-peer Internet, Wireless and Cellular based transport method for voice and data referred to in KIWI's business Plan as KIWI Internet Protocol -- Peer-to-Peer Communications ("KIP-PPC").
About Dylan Morris Software Inc.
DMS has developed models of a number of transport algorithms for mixed media, data and voice. DMS recently contracted with HRL Laboratories, a Malibu-based research laboratory co-owned by General Motors, Raytheon, and Boeing, specializing in the simulation of advanced networking protocols. DMS has developed a proprietary method of delivering data and voice to handheld communication devices that enables international high quality and low-cost peer-to-peer calling and 2-way near-to-broadband wireless data transmission that will be integrated into the KIWI Network and KEEWEE device platform. Mr. Morris is a graduate of Harvard University, has extensive experience in establishing Satellite, Cellular, WI-FI, VoIP, and Hotspot integration and will be responsible for the KEEWEE Device integration of transport and process protocol for KIWI and its related companies.
Harold Fischer, CEO of Koala stated, "The acquisition of the DMS is based on a performance milestone basis and immediately provides a series of unique operating components and intellectual properties that will distance KIWI from the competition."
Dylan Morris, President and CEO of DMS stated, "It is an exciting time to work with a visionary organization in the deployment of DMS's intellectual properties. KIWI and DMS have a common and viable interest in bringing revolutionary function and global practicality to the KIWI Networks and the KEEWEE device."
About KIWI
KIWI is developing an International Mobile Virtual Network Operator (IMVNO) platform to allow the delivery of voice, data and Short Messaging over multiple networks. Concurrent with the IMVNO development, Koala is pursuing the development of applicable devices to serve the network subscribers. The IMVNO strategy will enable subscribers to access the Internet, play and store MP3, utilize existing applications including calendaring, contact management systems, email and Short Messaging and additional functionality, some not currently available in the marketplace.
This material includes forward-looking statements based on management's current reasonable business expectations. In this document, the words "can," "anticipates," and similar expressions identify certain forward-looking statements. These statements are made in reliance on the Private Securities Litigation Reform Act, Section 27A of the Securities act of 1933, as amended. There are numerous risks and uncertainties that could result in actual results differing materially from expected outcomes. The material should be read in conjunction with the Company's current annual and quarterly reports filed with the SEC, which contain discussions of currently known factors that could significantly impact the Company's future expectations.