SOURCE: Mobiltek Corporation

June 27, 2005 06:30 ET

Mobiltek Announces Two New Systems Integration Contracts in China

Agreements Projected to Generate More Than US$700,000 in Fixed Fee Revenues

SUNNYVALE, CA -- (MARKET WIRE) -- June 27, 2005 -- Mobiltek Corporation (OTC: MOBK), founded to become the world leader in interactive mobile value-added services and mobile television services over 2.5G and 3G networks, announced today that it has secured two new systems integration contracts from two additional telecommunications services providers in China.

Under the terms of the first agreement, Mobiltek has been selected to modify, localize, install and implement a telecommunications system for SMS television. The second agreement calls for Mobiltek to modify, localize, install and implement a telecommunications system for a mobile payment platform. Both contracts include the relevant licensed software and hardware applicable to the U.S. telecom market.

Mobiltek also will be responsible for marketing the services provided in both systems to the U.S. domestic market, and retains the system resale rights in the United States which includes the rights to 80 percent of all gross revenues generated from those sales.

For the period of thirty-six months, the agreements are projected to generate US$736,000 in fixed fee revenues for Mobiltek and may represent additional revenues once Mobiltek begins marketing the new services in the United States. The names of the new clients were not disclosed due to signed confidentiality agreements with both client companies.

"Mobile value-added services are already becoming a major growth industry in China with a meteoric increase in new users that is projected to continue for years to come," said Mobiltek CEO George Moy. "With our established client relationships and a strong pipeline of potential new clients, Mobiltek is ideally positioned to capitalize on this growth and create value for our current shareholders."

China's Ministry of Information reported in May that the Chinese mobile subscriber base has grown to 358 million users nationwide, up from 334 million (revised) at the end of 2004 and well on its way to surpassing the projected growth rate of 17 percent for the year.

Mobiltek Corporation (OTC: MOBK) is a technology services company founded to become the world leader in interactive mobile value-added services and mobile television services over 2.5G and 3G networks. For additional information or to register to receive ongoing Mobiltek news updates, please visit www.mobiltekcorp.com.

Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements'' as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. Mobiltek disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, and changes in our business strategies.

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