Lightbridge Marks Major Push Into Asia Pacific Market With Opening of
Philippines Office
New Managing Director Given Steering Role In Asia Pacific As Formis Alliance Strengthens
Market Presence
BURLINGTON, Mass.--(BUSINESS WIRE)--March 25, 1998-- Lightbridge, Inc. (NASDAQ:LTBG - news), a leading
provider of software solutions to the converged telecommunications market for managing risk and promoting customer loyalty
and growth, today announced the opening of a lead office for the Asia Pacific region in the Philippines. The local base of
operations will be launched by Curtiss Waters, who was today appointed as managing director, Asia Pacific. Waters, a US
citizen, will also be responsible for the strategic development and penetration of the company's business in this vital market.
Lightbridge has appointed Waters to help meet a burgeoning demand among telecommunications operators for fraud and
churn solutions in this highly competitive and dynamic region. Also announced today, Lightbridge signed a strategic partnership
agreement with Formis Network Services Sdn Bhd (Formis), a Malaysian-based member of the Formis Group of Companies.
Under the agreement, Formis is a regional partner authorized to market, distribute, license and support Coral Systems', a
Lightbridge company, FraudBuster(R) and ChurnAlert(R) solutions in Malaysia, Indonesia, Singapore, Thailand, Hong Kong,
China, Philippines, Taiwan, Korea, Japan, Australia, New Zealand and India.
''Asia Pacific is the one of the most exciting telecommunications markets. It is the undisputed growth leader and is marked by
an increasingly sophisticated user base that readily embraces new technologies,'' said Pamela Reeve, president and CEO at
Lightbridge. ''The combination of Waters' regional experience as well as the strategic partnership with Formis establishes a
foundation for Lightbridge's churn and fraud offerings for the Asia Pacific telecommunications market.''
With recent deregulation fueling demand, cellular service revenues in the Asia Pacific market are expected to increase to $61
billion by 2005, with the number of subscribers growing from 22 million at the end of 1995 to 120 million by the year 2000.
A seasoned expert on social and business issues affecting the Asia Pacific market, Waters is multilingual and has worked at a
senior level with government, private industry, media and institutional leaders for the majority of his 22 years of international
experience, 15 of which have been in the region. His extensive network of foreign government contacts will position
Lightbridge to successfully market and sell its products.
Prior to joining Coral Systems, Waters was managing director at Phil AM Ventures Inc., executive director of the Asia Pacific
region at Nynex Data Products International, and managing director at ABI Rafch Edwards and Associates. In these positions
Waters was responsible for opening Asia Pacific offices and growing international sales organizations.
About Formis Network Services Sdn Bhd
FNS was incorporated in 1989 and is a subsidiary of Formis Computer Services Sdn Bhd. It is a ''solutions driven'' IT
Vendor and is focused on telecommunications and government. FNS is registered with the Malaysian Ministry of Finance and
PETRONAS. Additional information about the company can be found on the Web at formis.com.my.
About Lightbridge
Lightbridge, Inc. (NASDAQ:LTBG - news), based in Burlington, Massachusetts, USA, provides solutions to the converged
telecommunications market for managing risk and promoting customer loyalty and growth. Lightbridge has leveraged its credit
processing expertise into solutions that help operators quickly and cost-effectively provide bundled services through new
channels. Coral Systems, a Lightbridge company, provides fraud and churn management solutions. Lightbridge's clients
include: Orange plc, AT&T Wireless Services, MCI, BellSouth DCS, Comcast Cellular, Sprint PCS and Southwestern Bell
Mobile, TM Touch and UniqueAir UK Ltd. Additional information about the company can be found on Web at
lightbridge.com.
FraudBuster and ChurnAlert are registered trademarks of Coral Systems, Inc. Lightbridge and the Lightbridge logo are a
trademarks of Lightbridge, Inc. All other trademarks are the property of their respective owners.
Contact:
Lightbridge, Inc. Neva Group
Karen Gobler Caitlinn Cohen/Monique Klares
781/359-4705 617/441-4000 x232/246
kgobler@lightbridge.com ccohen@neva.com
mklares@neva.com |
