M.P. Technologies, Inc.

January 06, 2005 10:43 ET

M.P. Technologies, Inc. Announces Purchase of Shares of Guest-Tek Interactive Entertainment Ltd.


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: M.P. TECHNOLOGIES, INC.

JANUARY 6, 2005 - 10:43 ET

M.P. Technologies, Inc. Announces Purchase of Shares
of Guest-Tek Interactive Entertainment Ltd.

CALGARY, ALBERTA--(CCNMatthews - Jan. 6, 2005) - M.P. Technologies, Inc.
("MPT") is pleased to announce that it has purchased, through a private
arm's length acquisition, 2,144,245 common shares of Guest-Tek
Interactive Entertainment Ltd. ("Guest-Tek") at a price of $5.19 per
share (the "Acquisition"). The Acquisition brings MPT's direct and
indirect holdings to 5,983,745 common shares representing approximately
43.7% of the issued and outstanding common shares of Guest-Tek. MPT
purchased the shares for investment purposes and is considering
acquiring additional shares of Guest-Tek going forward. MPT is
continuing to review its investment alternatives and may, in the future,
take such actions in respect of its holdings as it deems appropriate in
light of circumstances then existing, including acquiring additional
common shares, making an offer to acquire all or part of the outstanding
common shares, or selling the shares it holds in the open market or in
privately negotiated transactions to one or more persons. Furthermore,
MPT has entered into an agreement with Guest-Tek whereby MPT has agreed
to purchase an additional 2,000,000 common shares of Guest-Tek (or such
lesser number of shares equal to the number of common shares tendered
under the Guest-Tek issuer bid) at a price of $6.50 per share (the
"Private Placement"). It is anticipated that the Private Placement will
close within 20 weeks from the closing date of the Guest-Tek issuer bid.

M.P. Technologies, Inc. is a Japanese corporation in the information and
communication industry. The shares of MPT are listed on the Mothers
section of the Tokyo Stock Exchange.

For further information, including a copy of the completed Early Warning
Report (which is also filed on SEDAR), please contact Mr. Ryuzo
Nakazumi, Chief Operating Officer of MPT.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    M.P. Technologies, Inc.
    13F Sumitomo Ichigaya Bldg.
    1-1 Ichigaya-Honmuracho
    Shinjuku-ku, Tokyo
    162-0845, Japan
    or
    M.P. Technologies, Inc.
    Mr. Ryuzo Nakazumi
    Executive Vice President
    +81-3-5225-2501
    +81-3-5225-2502 (FAX)