SOURCE: Mobiltek Corporation

May 09, 2005 08:30 ET

Mobiltek Corporation Begins Trading as MOBK

SUNNYVALE, CA -- (MARKET WIRE) -- May 9, 2005 -- Mobiltek Corporation (OTC: MOBK), a technology services company specializing in mobile value-added services and mobile television services, began trading this week on the OTC Pink Sheets under the ticker symbol MOBK.

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 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.

By the end of 2004, the value-added services market for mobile users in China was estimated to be worth approximately $4.7 billion, representing about 12 percent of the country's $40 billion mobile marketplace.

According to recent market studies, the Chinese mobile subscriber base is expected to grow from 316 million users in 2004 to more than 502 million by 2007. At the same time, the subscriber base for value-added services is projected to substantially outpace that level of growth, reaching approximately $12 billion by 2007.

"We believe this rapid growth and subsequent demand for unique value-added services present a tremendous opportunity for Mobiltek to establish itself in the dynamic Chinese marketplace," said Mobiltek CEO George Moy. "Our successes in China will serve as a springboard for our expansion to other markets in the region and around the world. This includes an aggressive expansion strategy for the lucrative U.S. domestic value-added services market, which is evolving more slowly but is showing similar promise."

Mobiltek is actively pursuing joint ventures and acquisition targets to expand its service offerings and market presence. When appropriate, the company plans to enter the U.S. domestic marketplace, where in 2004, the value-added services market for mobile users was estimated to be worth $4.9 billion. Currently, this represents approximately five percent of the total $97 billion in U.S. domestic mobile telephone revenues.

About Mobiltek

Mobiltek Corporation (OTC: MOBK) is a technology services company specializing in mobile value-added services and mobile television services. 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 (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.

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