Xybernaut Begins Shipping Wearable Computers to Singapore, a Top 20 World Market
Tuesday April 29, 8:50 am ET
Singapore Ministry of Trade and Industry Appoints Applesgate-Plus Pte Ltd and Xybernaut(R) to Offer Wearable Computers
FAIRFAX, Va. & SINGAPORE--(BUSINESS WIRE)--April 29, 2003-- Xybernaut Corporation (NASDAQ:XYBR - News) and Applesgate-Plus Pte Ltd of Singapore today announced that they had entered into a Master Distribution Agreement under which Applesgate-Plus Pte Ltd will distribute and support Xybernaut in Singapore and other international markets.
Xybernaut has already begun shipping Xybernaut wearable computing technologies and solutions including an initial purchase of 10 wearable computer units to Applesgate-Plus Pte Ltd for government and business customers.
"We have already opened a dedicated facility for this Xybernaut wearable computing program and we are actively marketing Xybernaut solutions to port authorities, shipyards, power generation facilities, manufacturing industrial and medical service providers in Singapore," stated Eddy Tan, managing director for Applesgate-Plus Pte Ltd.
The Agreement was initiated as a result of the USpartnerSingapore business-matching portal championed by International Enterprise (IE) Singapore -- an organization developed to spearhead economic development in Singapore.
The portal was launched by Brigadier-General George Yeo, Singapore's Minister for Trade & Industries, on 15 March 2002 at the U.S. Chamber of Commerce in Washington DC. The initiative's goal is to facilitate business partnerships between designated Singapore and U.S companies.
Tan continued, "The Economic Development Board of Singapore, the Singapore Info-Com Authority and I.E. Singapore have identified wearable computing and communications as one of the new high-growth areas for the future, both in Singapore and worldwide."
"Applesgate-Plus Pte Ltd has been selected to take these new products and services to market, initially within Singapore industries and governmental organizations, and eventually to international markets," added Tan.
Mr. Tan, who has over 27 years of experience, including substantial tenure with the Economic Development Board, started Applesgate-Plus Pte Ltd as a result of the Development Board's initiatives to create and support entrepreneurial companies in high growth industry sectors.
Applesgate-Plus Pte Ltd has also established channels to distribute Xybernaut hardware, software and solutions to Malaysia, Thailand and Indonesia. Xybernaut and Applesgate-Plus Pte Ltd have already identified areas of the Singapore economy that will return high ROI and make Singapore goods and services substantially more competitive on the world markets.
The companies are also developing plans to form an alliance to address the unique regional needs for hardware and software solutions for the military, security and homeland defense markets.
"Xybernaut is very pleased that Applesgate-Plus Pte Ltd as well as the Singapore government and industry leadership have recognized the potential for wearable computing technologies," stated Edward G. Newman, chairman, president and CEO of Xybernaut. "We are further pleased that Applesgate-Plus Pte Ltd has recognized Xybernaut know-how and intellectual property, worldwide, in what is projected to be a very high-growth marketplace."
Both Xybernaut and Applesgate-Plus Pte Ltd took advantage of the portal to register their interests on the Web site just less than a year and, today, are seeing direct benefits.
About Xybernaut
Xybernaut Corporation is the leading provider of wearable/mobile computing hardware, software and services, bringing communications and full-function computing power in a hands-free design to people when and where they need it. Headquartered in Fairfax, Virginia, Xybernaut has offices and subsidiaries in Europe (Germany) and Asia (Japan).
Visit the Xybernaut Web site at www.xybernaut.com. Product photos are also available directly from Xybernaut.
Xybernaut, the Xybernaut logo and Mobile Assistant® V (MA® V) are trademarks or registered trademarks of Xybernaut Corporation in the USA and other countries. All other brand and product names are or may be trademarks of, and are used to identify products or services of, their respective owners.
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act").
In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act.
Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements.
Such risks and uncertainties include, but are not limited to, market conditions, the availability of components and successful production of the Company's products, general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.
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Contact:
Xybernaut Corporation
Michael Binko, 703/631-6925
mbinko@xybernaut.com
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Source: Xybernaut Corporation |
