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Technology Stocks : Softbank Investment International (HK0648)

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To: Maika who wrote (592)	1/21/2004 10:18:20 PM
From: ms.smartest.person	of 615

Xybernaut in Joint Venture With Hong Kong Firm Tuesday January 20, 11:18 am ET FAIRFAX, Va. (Dow Jones)--Xybernaut Corp. (NasdaqSC:XYBR - News) and Hong Kong's Softbank Investment International (Strategic) Ltd. signed a memorandum of understanding to establish a joint venture that will develop mobile computing technologies in China. In a joint press release Tuesday, the companies said Xybernaut will own 60% and Softbank Strategic will own 40% of the new venture, which will sell Xybernaut products and intellectual property in China. The joint venture will have the exclusive right to manufacture, market, sell and distribute Xybernaut products throughout China. Softbank Strategic will provide start-up funding. Although Xybernaut will be the majority owner of the business, Softbank Strategic will be responsible for overseeing day-to-day operations. The agreement is subject to the completion of a definitive contract. Xybernaut's shares traded recently at $1.96, up 12 cents, or 6.5%, on Nasdaq volume of 4.6 million shares. Average daily volume is 4.8 million shares. Company Web site: xybernaut.com -Stephen Lee; Dow Jones Newswires; 201-938-5400

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