SOURCE: Mobiltek Corporation

May 26, 2005 07:00 ET

Mobiltek Corporation Announces Five Mobile Multimedia Contract License Agreements

Agreements to Total More Than US$700,000 in Projected Fixed Fee Revenue

SUNNYVALE, CA -- (MARKET WIRE) -- May 26, 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 mobile multimedia license agreements with five mobile service providers in China.

Collectively, the agreements will generate US$720,000 in fixed-fee revenues for Mobiltek over the next 24 months. The agreements also include incentive payments and transaction fees that the company projects will represent additional revenue opportunities.

As part of each agreement, the regional wireless providers obtain non-exclusive rights to Mobiltek's suite of services within the territories they serve, and they are currently deploying the Mobiltek offering to thousands of Chinese consumers of wireless data services. Due to signed confidentiality agreements with the respective companies, the names of the new clients were not disclosed.

"The value-added services market for mobile users in China is one of the fastest growing wireless markets in the world, expected to balloon to more than US$12 billion by 2007," said Mobiltek CEO George Moy. "We believe this rapid growth presents a tremendous opportunity for Mobiltek to establish itself in the wireless space and utilize our successes in China as a springboard for expansion to other markets in the region and around the world."

Mobiltek seeks to become a global leader in next generation, interactive, mobile value-added services and mobile television services over broadband mobile networks. The company initially plans to leverage its technical and marketing expertise as well as planned acquisitions in the Far East to deliver value-added service offerings to the fast-growing mobile marketplace in China, before rapidly expanding to other Asia-Pacific countries and eventually to the United States.

Mobiltek is currently developing its mobile television and wireless entertainment capabilities for the region and currently offers technical and marketing services to other Far Eastern companies. The company's interactive services are intended to be delivered over 2.5G and 3G mobile networks owned by established mobile operators in China and throughout the world.

Mobiltek Corporation (OTC: MOBK) is a technoligy 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

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 (including in the information technology and financial information industry), 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.

Contact Information

  • Investor Relations Contact:
    The Eversull Group
    Jack Eversull
    972-991-7359 (fax)

    Media Contact:
    Jesus Rodriguez