SOURCE: NewMarket Technology, Inc.

May 30, 2007 09:55 ET

NewMarket Technology, Inc. Subsidiary, RedMoon, Inc., Announces Joint Partnership With Domos, Ltd. to Launch Wireless Broadband Services in Mexico

RedMoon, Inc. to Be Consolidated Into NewMarket Broadband Subsidiary With Forecasted First Year Revenue of $10 Million

DALLAS, TX--(Marketwire - May 30, 2007) - NewMarket Technology, Inc. (OTCBB: NMKT) and subsidiary RedMoon, Inc. (RedMoon Broadband) announced today the signing of a non-binding letter of intent (LOI) to form a partnership with Domos, Ltd. to initiate and develop wireless broadband in Mexico. Separately, NewMarket has already initiated similar efforts to expand their broadband offerings in Brazil.

In this partnership with NewMarket Technology and its subsidiary RedMoon Broadband, Domos will leverage its market experience and established infrastructure to help enhance and propel wireless broadband services in Mexico.

Domos Chief Executive Officer, Javier Garza-Calderon, stated, "We are very interested in adding a telecommunications business to our subsidiaries. We foresee a promising future for the wide dissemination of state-of-the-art, highly reliable wireless broadband technology in Mexico. Wireless broadband technology will permit not only the addition of new services such as wireless automated meter reading, but will also offer the market a variety of wireless broadband services at a very competitive price."

NewMarket Broadband Subsidiary First Year Revenue Forecast of $10 Million

NewMarket recently executed an agreement to acquire Diamond I, Inc. (OTCBB: DMOI) in a strategy to build a publicly listed Wi-Fi subsidiary with a $10 million first year revenue forecast. NewMarket Technology also recently executed an agreement to acquire the majority interest in RedMoon Broadband. Prior to the agreement, NewMarket held a minority interest in RedMoon.

NewMarket will consolidate its own Wi-Fi assets into Diamond to build a comprehensive wireless broadband offering with applications in multiple market segments. The Diamond I name will be changed to NewMarket Broadband, Inc. and the ticker symbol will change accordingly.

RedMoon Broadband Municipal Starter Kit and Mexico

Texas-based RedMoon Broadband is a leader in municipal Wi-Fi. RedMoon has designed, engineered and deployed wireless mesh network solutions providing high-speed Internet service, security surveillance, automatic water meter reading and mobile broadband for municipalities.

To assist cities in rapidly and efficiently launching their Wi-Fi networks, the Company has created the RedMoon Starter Kit, which conveniently bundles all that is required to build a secure 2.4 GHz Wi-Fi and 4.9 GHz Public Safety HotZone including SkyPilot mesh nodes, video surveillance cameras, and a complete support system. "The Starter Kits developed in the US should have widespread applicability in Mexico," said Senior Vice President of Latin American Business Development for NewMarket Jorge Miguel.

Bryan Thompson, President of RedMoon, said, "RedMoon is excited about the opportunities in Mexico and across Latin America to supply an easy and cost-effective way to address the region's growing demand for high bandwidth, wireless applications such as business internet connectivity, video surveillance, emergency response communications and automatic meter reading services."

Currently, RedMoon and Chevron Energy Solutions, a business unit of Chevron Corporation, deliver service through the companies' SkyPilot mesh network to the 10 square mile City of Burleson, Texas, supplying an automatic water metering program to more efficiently track consumption, curb water loss and increase revenues. Automatic Meter Reading (AMR) technology will enable Burleson to reduce meter reading costs, improve the accuracy of readings, support water conservation efforts and raise the level of customer service.

"Municipal water utilities and other city services represent a significant area of growth and opportunity in Latin America, not to mention providing low-cost access to wireless broadband in both developed and under-developed segments of Latin America," said NewMarket Technology Board Member, Bruce Noller.

To be added to NewMarket's corporate e-mail list for shareholders and interested investors, please send an e-mail to ir@newmarkettechnology.com.

About Domos, Ltd. (www.grupodomos.com.mx)

Domos, Ltd. is a privately held firm operating in Mexico since 1988. Through it subsidiaries, Domos participates in a number of different market niches, having a noticeable presence in, but not limited to: Waste Management Services, Water Treatment Solutions, Real Estate Investments and Information Technologies. In the 1990's, Domos, Motorola and US Sprint formed a joint venture and founded the first Mexican B Band cellular telephone company, NORCEL to cover Chihuahua, Coahuila and Durango. Domos owned 51% of the joint venture. NORCEL earned 70% of the market and reached its operating break even point within 12 months and its cash-flow break even point within 18 months. Later, Domos sold its 51% stake to Motorola in a deal valued in $126 million. NORCEL is currently member of Telefonica.

About RedMoon, Inc. (www.redmoonbroadband.com)

RedMoon was founded in August 2000 and is a pioneer in the wireless mesh arena. Today, RedMoon is leading the mesh revolution with next-generation, network solutions for mobile broadband and wireless access in city deployments. RedMoon's networks are designed for Wi-Fi in the unlicensed 2.4 GHz spectrum, 4.9 GHz spectrum for public safety and integrates 5 GHz mesh for backhaul.

RedMoon networks are high-performance, scalable networks that can support the growing demand for high bandwidth applications such as business connectivity, video surveillance, emergency response communications and voice-over-IP (VoIP) services. The network design allows a city, campus or county to start small and grow over time.

RedMoon holds a DIR Commodity Purchasing Program Contract (No. DIR-SDD-475) offering discounted products and services to the State of Texas and is also certified by the State of Texas through the Certified Information Services Vendor (CISV) program.

About NewMarket Technology, Inc. (www.newmarkettechnology.com)

NewMarket helps clients maintain the delicate balance between maintaining legacy systems and gaining a competitive edge from the latest technology innovations. NewMarket provides certified integration and maintenance services to support the prevailing industry standard solutions to include Microsoft, Cisco Systems, SAP, Siebel and Sun Microsystems. Concurrently, NewMarket continuously seeks to acquire undiscovered emerging technology assets to incorporate into an overall product portfolio carefully packaged to complement the prevailing industry standard solutions. NewMarket delivers its portfolio of products and services through its global network of Solution Integration subsidiaries in North America, Latin America, China and Singapore. NewMarket maximizes shareholder return on investment by independent listing of consolidated regional and emerging technology subsidiaries in order to issue subsidiary stock in shareholder dividends. NewMarket ranked Number Five on Deloitte's 2006 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on percentage revenue growth over five years, from 2001-2005. The Company grew from less than $1 million in revenue in 2001 to over $50 million in profitable revenue in 2005.

"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause NewMarket's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.

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