IRVINE, Calif., March 12, 2004 (PRIMEZONE) -- Military Communications Technologies Inc. (OTCBB:MLTA), announced today that the Board of Directors has approved the acquisition of a twenty percent (20%) equity in Advanced Power Management Pty Ltd ("APM"), a private Australian company. MLTA will also be granted an exclusive Agency Agreement to distribute APM's proprietary remote power metering product and its associated communications technologies exclusively in the USA. The consideration for the purchase is MLTA shares of stock, subject to valuation.
Advanced Power Management (USA), Inc. -- Exclusive Distributor
MLTA will distribute the product range on an exclusive basis throughout the USA via a wholly owned subsidiary company, Advanced Power Management (USA) Inc. ("APM USA").
APM USA -- New Telco Markets & 2004 Revenues
The acquisition is complementary to MLTA's long-term objectives as the APM power metering products are ready for immediate sales and distribution. This will strongly assist the Company in the generation of 2004 revenues, whilst also providing a strong "lead-in" to the Power Utilities retail marketplace in the communications networking field.
Whilst the APM technology products have a significant market potential in their own right, the lead-in it brings to the Power Utilities companies, establishes a significant opportunity for the company to leverage its SpectruCell technology into an extensive new market.
Power Utilities control by far the most extensive and the most robust networks in the world today. Every single household, business and industrial site is connected to this network. Power Utilities worldwide are beginning to implement a range of power line communications technologies and a large amount of utilities are actually rolling out fiber optic cable in parallel with their power distribution networks. The essential missing link in allowing Power Utilities to offer voice and data services is the last mile connectivity. SpectruCell is ideally suited to providing a re-configurable Wireless Local Loop, or last mile capability to enhance and complete a power utilities service offering.
The SpectruCell technology, in conjunction with a Power Utility's existing backhaul network, opens new markets in the telecommunications arena allowing Utilities to offer their own range of wireless communications, or to lease infrastructure to existing telecom operators in order to augment their existing wireless networks.
Industry figures in the USA show that an estimated two percent (2%) market penetration for the APM products and the related data service contracts would generate in excess of US$100 million per year based on industry figures of an installed base of 200 million existing power meters in the USA.
About the Technology
APM has completed development and commercial trials of its cost effective, reliable and easy to install Wireless Optical Meter Reader (WOMR) that is ideal for the remote monitoring of electricity meters worldwide. It is the lowest priced product with the most extensive applications available today, and is proprietary to APM.
The WOMR is also ideally suited for home and commercial Energy Audit usage due to the ease of installation on to existing electricity meters and load profile / data capture availability over the Internet. Every home and business owner interested in their load profile (when and how much was used) can benefit from the low cost, simply installed WOMR unit.
APM's WOMR breaks new ground in that it has a very low unit and install cost that does not require replacement or modification of the existing meter. Measuring only 3" x 2" x 1", the device also eliminates "estimated reads" for billing as well as overcoming meter access problems and provides Power loss detection to enable real time network fault notification. Additionally as the WOMR can detect power flowing out of the meter it is ideal for monitoring and recording Photovoltaic (or other forms of local generation) energy flows back to the grid.
About Advanced Power Management Ply Ltd (APM)
APM is an Australian technology company that has developed several proprietary and patent pending, power management applications. These unique applications are specifically designed to meet the rapidly evolving new demands of the next generation of power infrastructure support and real-time resource management applications.
The Company is a leader in the fields of remote automatic meter reading, real-time infrastructure management, and the full range of data reporting and monitoring applications associated with these new power management services.
The technologies enable significant cost reductions and enhanced business functionality for both electricity retail and electricity distribution businesses, and can substantially reduce the dependence on "spot market" buying for back-up electric power supplies.
APM's unique approach to infrastructure investment, comprehensive data services and risk management places it in a unique position to assist electricity retailers and electricity distributors in delivering increased value-added services to their customers, while refining and reducing the Power Utilities' dependency of the industry on last minute spot market purchasing.
The APM web site at www.apm-intl.com.au features a live web cam demonstration of some aspects of the technology and provides additional information showing:
-- Real time remote meter reading (via an APM upgraded accumulation
meter)
-- Remote load control (you can view the results as you switch on /
off two lights & a fan)
-- View the 30-minute interval power usage profile for the last 24
hours.
About Military Technology Communications
Military Communications Technologies, Inc. is a technology company involved in the development and distribution of proprietary software defined radio (SDR) commercial and military mobile wireless network applications. The Company's core product, PC4 is specifically targeted to the demands of the Military and Homeland Defense agencies for large-scale defense grade reconfigurable wireless communications systems. PC4, which stands for Programmable, Command, Control, Compute, and Communicate, is a next-generation SDR framework and proprietary operating system uniquely designed for interoperable, lightweight and mobile military communications systems. The PC4 framework is also especially suitable for radar and high-speed digital RF and GSM surveillance systems. The Company's proprietary SpectruCell(tm) technology offers commercial wireless providers a cost-effective, software-based method to upgrade systems to next-generation standards and makes networks interoperable with most wireless protocols.
Statements in this release, which relate to other than strictly historical facts, including statements about the Company's plans and strategies, as well as management's expectations and new and existing products, technologies and opportunities, market growth, demand for acceptance of new and existing products, are forward-looking statements. The words, "believe," "expect," "anticipate," "estimate," "project," and similar expressions identify forward-looking statements that speak only as the date hereof. This press release contains certain forward-looking statements regarding Military Communications Technologies, INC. ("MLTA"), its business prospects and results of operations that are subject to certain risks and uncertainties posed by many factors and events that could cause MLTA's actual business, prospects and results of operations to differ materiality from those that may be anticipated by such forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by MLTA in this news release and other reports filed with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect MLTA's business.