NEW YORK, July 16, 2002 (PRIMEZONE) -- Neurotech Development Corporation (OTCBB:NEKDA), an international healthcare facilities developer, and Exus Networks, Inc. (OTCBB:EXUS), a global provider of end-to-end telecommunications services, announced today that they have formed a strategic partnership agreement to cross market each other's products and services and to cooperate to develop new business opportunities in the emerging markets.
Neurotech's and Exus' management agreed to enter the partnership because of clear synergies felt between the two companies. Ike Sutton, Chief Executive Officer of Exus, explained, "Exus maintains offices in Central Asia and Eastern Europe and Neurotech is working on major contracts in countries such as China, Indonesia, and Venezuela. By teaming up, we both drastically increase our access to new markets. Now that the U.S. is promising over $1 billion in aid to develop the telecommunications and medical infrastructures of Uzbekistan, Afghanistan, and other countries where we have affiliations, along with stipulations that these grants be used for US products, this partnership could not have come at a more opportune time. There is a tremendous need for hospitals in these areas."
Lawrence Artz, Vice President of Neurotech, elaborated, "Beyond access to new markets, this relationship will enhance the products we each offer. On our side, we can assure our clients that our medical facilities will have the most advanced telecommunications infrastructure available. The hospitals we build have a special requirement for broadband connectivity to gain access to databases, videoconferences, and telemedicine resources. From Exus' perspective, I know they are interested in using the technology, customer base, and other assets, which we developed to complement the continuing medical education services they are bringing to Poland and other countries. We are excited about the many opportunities for Neurotech and Exus to work together."
About Exus Networks, Inc.
Exus Networks, based in New York, provides satellite-based communications products and services to the emerging markets of the world. Exus' global shared satellite network provides high-speed internet access and telephone services at substantial cost savings to developing countries. Exus has also positioned itself as a specialty provider of communications services to the medical industry by reaching agreements with the Polish government and the National University of Uzbekistan to deliver satellite-based connectivity and continuing medical education resources. To learn more about Exus Networks, please visit its website at http://www.exus.net.
About Neurotech Development Corporation
Neurotech is a New York-based international turnkey solutions provider for rapid-deployment healthcare facilities. The company designs, builds, equips, and staffs hospitals, medical clinics, and health care centers in developing countries, with a focus on the Asian market. All of Neurotech's facilities meet U.S. standards of physician training, medical technology, diagnostics, telecommunications infrastructure, and software systems. Health care personnel working at Neurotech facilities are trained at teaching hospitals in the United States in diagnostics, health care management, facilities operation, and administration. Current Neurotech projects include construction of a $52 million facility in China. The company's total backlog totals over $1.5 billion. To learn more about Neurotech, please visit its website at http://www.neurotechdevelopment.com
The preceding includes forward looking statements which involve known and unknown risks and uncertainties which may cause the actual results in future periods to differ materially from forecasted results. Forward-looking statements above are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including, without limitation, competition, intellectual property rights, litigation, needs of liquidity, and other risks detailed from time to time in reports filed with the SEC.