Technor International Inc. Renamed "CellPoint Inc."
STOCKHOLM, OCTOBER 6, 1999 -- Technor International Inc. has been renamed
"CellPoint Inc." and effective today, the new trading symbol will be CLPT.
CellPoint Systems had been the name of Technor's operating subsidiaries.
With the assumption of the CellPoint name for the public company, all of
the Company's operations and subsidiaries will be known as CellPoint.
"The uniting of our Company under a single name will allow us to continue
building the brand identity of CellPoint, which has become well-known in
the GSM world as the leader in GSM position-location technology," said
Peter Henricsson, Chairman and CEO of CellPoint. "We also believe that the
name "CellPoint" more clearly reflects our business and streamlines our
commercial and investment image internationally."
Henricsson also announced that the Company has taken a number of steps to
make the change as seamless as possible for investors and customers.
Starting today, the Company's Common Stock will be traded under the symbol
"CLPT" rather than "TNOR". Stockholders do not need to exchange their
TNOR certificates; these will automatically be considered CLPT certificates
for the same number of shares. The Company's two websites will remain
www.cellpt.com and www.technorinc.com, but in the near future, the Technor
site address will link directly into the CellPoint website.
CellPoint Inc. is a US company whose technology uses the Internet and
cellular networks to determine physical locations of cellular phones and
special purpose-designed cellular terminals. The positioning technology is
similar to satellite-based Global Positioning Systems (GPS) but with the
additional capability of determining location inside buildings, parking
garages and other shielded areas such as inside a pocket or briefcase that
are inaccessible to GPS systems. There are more than 200 million GSM
subscribers worldwide.
The CellPoint system is currently the world's only commercially operational
digital position-location technology; it is fully scalable, works with
standard GSM phones and WAP phones in unmodified digital networks requiring
no costly overlays, and can be coordinated worldwide from a remote central
location. CellPoint has recently announced contracts with France Telecom
Mobiles, a division of France Telecom (NYSE: FTE; www.francetelecom.fr),
the world's second largest telecommunications company, with operations in
over 50 countries, and 24.6 billion euros in 1998 revenues; and with Tele2,
a division of NetCom (Nasdaq: NECS), the leading telecommunications company
in Scandinavia. CellPoint has filed Form 10SB to qualify for trading on the
Nasdaq exchange.
For more information, please contact:
Technor International Inc. CellPoint Systems North American
Inquiries
Tel: +46 8 5449 0000 Hadar Cars, President The Rowe
Group
Fax: +46 8 5449 0005 Tel: +46 8 5947 4900 877-8
80-1195
info@technorinc.com Fax: +46 8 35 87 90
ajc@rowe-group.com
www.technorinc.com info@cellpt.com |
