04/07/03 Koala Announces Closing of a Letter of Intent with Link vision ltee
TORONTO--(BUSINESS WIRE)--April 7, 2003--Koala International Wireless, Inc. ("Koala" or the "Company") (KIWI - news) announced today the closing of a Letter of Intent to distribute its device in Greece with Link vision ltee, an independent distribution agent based in Athens, Greece.
Link vision ltee's ("Client") responsibilities will be to augment the launch and promotional activities to potential users of the Koala services and products. Link vision ltee will further promote project related Koala services and products on all communications media already used by the Client. The new relationship will provide all rights, tools, information or services to Koala as required to set up and operate Koala services and products in Greece and Link vision ltee will add the Koala services and products distribution channel to its current advertising agreements with direct links to its customer base. Link vision ltee is uniquely positioned to distribute Koala services and products to existing carriers in Greece.
Miguel Caron, President of Koala, said: 'The Greek cell phone user market has sustained a high ARPU (average revenue per users). With the Olympics coming to Athens, the ARPU is likely to increase in the months ahead. Link vision ltee is set up to actively promote the Koala offering of SMS content and wireless data services to Greece's multiple carriers. As the Games near, Link vision ltee serves as an excellent conduit to capture additional market share for Koala's devices and related services.
Michel Nicolakakis, CEO of Link vision ltee, said: "Greek cell users are voracious consumers of mobile content; the Koala device accurately represents the medium our customers are looking for. We are confident that Koala's service profile and device offering will be very successful in the Greek carrier market."
About Koala: Koala is developing an International Mobile Virtual Network Operator (IMVNO) platform to allow the delivery of voice, data and Short Messaging over multiple networks. Concurrent with the IMVNO development, Koala is pursuing the development of applicable devices to serve the network subscribers. The IMVNO strategy will enable subscribers to access the Internet, play and store MP3, utilize existing applications including calendaring, contact management systems, email and Short Messaging and additional functionality, some not currently available in the marketplace.
This material includes forward-looking statements based on management's current reasonable business expectations. In this document, the words "will," "upon," "develop(ment)" and similar expressions identify certain forward-looking statements. These statements are made in reliance on the Private Securities Litigation Reform Act, Section 27A of the Securities act of 1933, as amended. There are numerous risks and uncertainties that could result in actual results differing materially from expected outcomes. The material should be read in conjunction with the Company's current annual and quarterly reports filed with the SEC, which contain discussions of currently known factors that could significantly impact the Company's future expectations.
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