Arabian Recab Trading Completes Saudi Telecom Licensing Procedure
9/13/2005 11:23:01 AM
GIG HARBOR, Wash., Sep 13, 2005 (BUSINESS WIRE) -- Arabian Recab Trading Co. ("Recab International"), which signed a definitive merger agreement with Reality Wireless Networks, Inc. (RWNW) ("Reality") on July 21, has formed the Arabian Recab Trading Company Communication and Technology Sector division ("ARCO TEL").
ARCO TEL has completed the application and qualification licensing process for the Saudi government's Telecommunications Authority and is poised for a massive expansion in the marketing of SAWA and AL JAWAL chips and prepaid mobile cards of the Saudi government's Telecommunications Company.
Recab International anticipates that expansion of ARCO TEL will result in 24 sales outlets throughout Saudi Arabia and profits of $25 million per annum within a 12-16 month period.
ARCO TEL and its management team have more than 6 years of experience as contractors in the Saudi telecommunications arena, with several successfully completed projects. ARCO TEL anticipates rapid expansion in specific telecommunications and related sectors, including:
-- Electronic business solutions, computer software and programming
-- Sales and marketing of wireless communication devices, including mobile telephone sets
-- Communication and data transmittal solutions; and
-- Marketing of SAWA and AL JAWAL Saudi Telecommunications Company telecom cards.
About Reality Wireless Networks Inc.
Reality Wireless Networks, Inc., a publicly-traded Nevada corporation, previously offered broadband wireless services through hybrid networks including fixed wireless, 802.11, and fiber to markets either underserved or not served by DSL and cable modem technologies. Reality has shifted focus to seek growth opportunities in the wireless marketplace and related product industries ir@realitynetworks.com. More information about Reality Wireless Networks Inc. can be found at www.sec.gov.
NOTE: Information contained in this press release, other than historical information, should be considered forward-looking in nature and is subject to various risks or uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or expected. Among the key factors that may have a direct bearing on the operating results, performance or financial condition are the company's ability to achieve and manage growth; the company's ability to successfully identify suitable acquisition candidates, complete acquisitions or integrate the acquired business into its operations; the company's ability to attract and retain qualified personnel; the company's ability to secure necessary financing; potential litigation by shareholders and/or former or current advisors against the company; the company's success in securing third-party commitments, production agreements and/or licensing contracts; the company's ability to comply with federal, state and local government regulations and/or unforeseen changes in federal or and government regulation; and the company's ability to develop new services; and other factors discussed in Reality's filings with the Securities and Exchange Commission.
For further information, please contact Steve Careaga at 253-853-3632, or send correspondence to 4916 Point Fosdick Dr., Suite 102, Gig Harbor, WA 98335
SOURCE: Reality Wireless Networks, Inc.
Reality Wireless Networks, Inc.
Steve Careaga, 253-853-3632
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