NEW YORK, Sept. 23, 2002 (PRIMEZONE) -- Exus Networks, Inc. (OTCBB:EXUS) announced today that Exus Ukraine, Exus' wholly owned subsidiary in the Ukraine, has won a competitive tender to supply Inmarsat satellite equipment to the Ukrainian Ministry of Defense. This order is evidence of Exus' active and persistent sales efforts to develop Inmarsat communications.
Exus, a licensed reseller of Inmarsat equipment and service (http://www.inmarsat.org/), is looking forward to selling the new BGAN Inmarsat terminals which will enable Exus to deliver portable satellite service to businesses, governments and education establishments in up to 99 countries around the globe, enabling these customers to benefit from the Internet, IT revolution and Exus Distant Education Program. The new Inmarsat Regional Broadband Global Area Network (Regional BGAN) service, due for launch at the end of this year, will bring reliable high-speed data communications to developed and developing nations 24 hours a day, with charges based purely on usage rather than on conventional `per minute' charges for satellite airtime.
Exus projects sales of 1,000 units in 2003 with revenues exceeding US$3 Million from resale of these devices and airtime. The BGAN lightweight, handheld phones enable users in underdeveloped areas within the satellite's coverage area (spanning five continents) to gain access to Internet and Web-based applications and solutions. This new service will give enterprises a major jump forward in the ability to be e-ready in continents where terrestrial networks are poor or non-existent. Users will have access to a high-speed (up to 144kbit/s), shared secure channel, offering connection speeds more than twice as fast as GPRS or 2.5G.
About Exus Networks, Inc.
Exus Networks is a global provider of a broad array of value-added services, concentrating on Distant Education, delivered via a combined satellite and terrestrially based network. These services are provided to a diverse client base which includes medium to large multi-national businesses, universities, Internet service providers and government agencies. Through service agreements and strategic relationships with satellite network operators, teleport facilities, leading telecommunications partners and the Company's data center in New York, Exus Networks benefits from the growing need for affordable, premium quality, managed data services. This is particularly true in emerging markets where Exus benefits from being a first-mover advantage. To learn more about the Company, please visit its Website at http://www.exus.net.
The preceding includes forward-looking statements which involve known and unknown risks and uncertainties which may cause the Company's 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 the company's reports filed with the SEC.