SOURCE: Orsus Xelent Technologies, Inc.

November 28, 2006 08:48 ET

/ CORRECTIONS - Orsus Xelent Technologies, Inc.

NEW YORK, NY -- (MARKET WIRE) -- November 28, 2006 -- In the news release, "Orsus Xelent Technologies Reports Third Quarter 2006 Results," issued Wednesday, November 15, 2006, by Orsus Xelent Technologies, Inc. (OTCBB: ORXT), we are advised by the company that the previous press release regarding the Company's third quarter 2006 results contains minor figure errors and the Company is filing an 8K to correct their errors. Additionally, a correction to the press release issued November 15, 2006 replaces the original third paragraph with the following:

"For the nine months ended September 30, 2006, gross profit was $8.0 million, which represents an increase of $4.7 million or 139% as compared to the gross profit of $3.3 million for the same period in 2005. Except for the effect of the provision of inventory in the second and third quarter of 2006, the gross profit in the third quarter of 2006 was $3.8 million representing 6.33% growth over the second quarter of 2006 and a slight decline of 0.40%, as compared with the third quarter of 2005."

About Orsus Xelent Technologies

Incorporated in the state of Delaware and headquartered in Beijing, China, Orsus Xelent Technologies, Inc. is an emerging designer and manufacturer of award-winning mobile phones for the Asian market, primarily the People's Republic of China (PRC). The company's business comprises the design of mobile phones, related digital circuits, and software development, and is a recognized pioneer in mobile phone integration technology. It introduced the region's first wristwatch-style cellular phone, and it continues to break new ground with state-of-the-art phones that include advanced features like finger print recognition and touch-screen displays. Since the company's launch in 2004, it has established "Orsus" as a popular brand and achieved a significant share of the world's largest mobile phone market. It maintains more than 179 service call centers across the PRC, with additional offices in New York, Shanghai, Hong Kong, Shenzhen, and Tianjin. For more information, please visit:

Information Regarding Forward-Looking Statements

Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Orsus Xelent Technologies, Inc.
    Xavier Xin Wang
    President and CEO
    US: Tel 212-719-7535
    Fax 212-790-9594
    PRC: Tel 010-85653777
    Fax 010-85653666

    RedChip Companies, Inc./Aurelius Consulting Group, Inc.
    Dave Gentry
    President and CEO
    (407) 644-4256