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Company Press Release
SOURCE: Web2U
South East Europe Set to Benefit From Low Cost Internet Access As Web2u Signs Distribution Agreement With Millennium Stores
MILTON KEYNES, England, July 12 /PRNewswire/ -- Web2U, the world leading designer and manufacturer of low cost web-to-TV internet access systems, today announced an agreement that will allow Millennium Telecom Stores S.A. to distribute Web2U's affordable set top box within Greece.
The deal, which follows similar agreements with partners in India, Australia, Africa and Spain, also gives Millennium Telecom Stores S.A. an option to distribute Web2U's technology within other markets in South East Europe, including Bulgaria, Armenia, Romania, and the countries that make up the former Republic of Yugoslavia.
Millennium Telecom Stores S.A., part of the Klimatair Group, intends to market the product through its retail outlets, set up at the end of 1999 to meet the burgeoning demand for new technology. Millennium currently has 19 retail outlets (``Millennium Stores'') in Greece, with plans to expand to 35 stores by the end of the year, and in excess of 120 by the end of 2002. Millennium Stores offers a wide range of consumer products that cover all areas of telecommunications and entertainment.
Panayiotis Sarris, commercial director, Millennium Telecom Stores S.A., said:
``Only 6% of the Greek population currently use the internet -- mainly through their office PC's. The denationalisation of the Greek telecoms market, the increased availability of 'easy to use' technology, and a reduction in access costs will, over the next two years, encourage a record number of Greeks to move online. With Web2U's 'plug and play' set top box, we are perfectly placed to take advantage of this market growth.''
Darran H. Evans, chief executive, Web2U added:
``Web2U's technology is proving popular across the globe. Through the provision of internet access via the TV and telephone, our technology is opening up the web to a whole series of user groups who have, until now, found it too expensive or too complex to experience. We are delighted that Klimatair Group, a knowledgeable and experienced player within relevant market sectors, through Millennium Telecom Stores S.A, will be distributing our set top box in a number of exciting areas with potential for significant growth.''
Millennium Telecom Stores S.A. is a member of the Klimatair group of companies, that includes Klimaphone, a provider of cellular, internet, paging and fixed-telephony services and Algosystems a data/telecommunications systems integrator. Klimatair, formed 20 years ago, is a leading company in Greece representing a number of high-tech firms and producing OEM products in cooperation with well known manufacturers such as Samsung and LG.
Web2U is a wholly owned subsidiary of MSU Corporation (OTC Bulletin Board: MUCP - news), based in Milton Keynes, UK.
Certain information included herein and on other Company statements, reports and SEC filings is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning anticipated operating results, financial resources, marketing, growth and expansion. Such forward-looking information involve important risks and uncertainties that could significantly affect actual results and cause them to differ materially from expectations expressed herein and in other company statements, reports and SEC filings.
SOURCE: Web2U |
