Xybernaut and Golden Cellular Bring Xybernaut Technologies to People's Republic of China
FAIRFAX, Va., Sep 4, 2003 (BUSINESS WIRE) -- Top Five Global Market (China) Focal Point of Wearable Computing Effort
Xybernaut(R) Corporation (NASDAQ:XYBR) and Golden Cellular Communications Co. Ltd. (GCC), today announced an alliance to develop, manufacture and deploy wearable computing solutions built around Xybernaut intellectual property, as well as to enhance the operational know-how and technical capability of both companies going forward in this marketplace.
GCC is a subsidiary of China Electronics Corporation (CEC), one of China's largest corporate entities. Although specific terms of the relationship were not fully disclosed at this time, both GCC and Xybernaut have agreed to form a combined team, including the exchange of staff, to coordinate the development, manufacturing and sales of Xybernaut wearable computer products and solutions as well as Xybernaut's other intellectual property in the People's Republic of China (PRC).
He Ming, president of GCC (Beijing, PRC), commented, "We are excited about being selected by CEC HQ to spearhead efforts in wearable computing and communications; we see the demand for wearable computing technologies to be very large, both within our own organization and in the population in general."
Su Zhen Ming, vice president for CEC, added, "We look forward to partnering with Xybernaut as we work together to bring their wearable computing technologies to the PRC across all of our industries. As a result of the recent technological and business exchanges with Xybernaut, CEC has gained a strong appreciation for the opportunities in wearable computing."
Mr. Su also indicated that Xybernaut technologies and solutions hold great potential to enhance technical competencies, productivity and profitability for Chinese enterprises far into the future.
"This agreement with GCC opens the door to introduce the latest technologies to the world's largest country," stated Edward G. Newman, chairman and CEO for Xybernaut. "We believe that GCC and Xybernaut will soon be providing both government and business with wearable computing solutions that will give them a competitive advantage in the world marketplace."
About GCC:
Golden Cellular is an industry leader in the PRC founded on the development of backbone-network enterprises and institutions under the umbrella of China's Ministry of Information Industry (MII). Golden Cellular is especially dedicated to providing solutions and services for China's telecommunications industry.
About CEC:
China Electronics Corporation (CEC) is a nationwide conglomerate in China's information industry. CEC is under the direct administration of China's central government. CEC currently manages 26 fully-funded subsidiaries, 30 shareholding companies, 6 overseas operations and 4 listed holding companies, with a registered capital of RMB 6.15 billion yuan, total assets of RMB 35 billion yuan and 34,000 employees.
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 Xybernaut's Web site at www.xybernaut.com.
Xybernaut, the Xybernaut logo and Mobile Assistant(R) V (MA(R) 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.
SOURCE: Xybernaut Corp.
Xybernaut Corp., Fairfax
Michael Binko, 703-631-6925
mbinko@xybernaut.com |
