SOURCE: NewMarket Technology, Inc.

NewMarket Technology, Inc.

March 03, 2011 10:33 ET

(NWMT) NewMarket Technology and (NVAE) Savanna East Africa to Review Next Steps With Kenya Ministry of Housing for Prospective 200 Unit Public Housing Project

DALLAS, TX--(Marketwire - March 3, 2011) - NewMarket Technology, Inc. (OTCQB: NWMT) and Savanna East Africa, Inc. (OTCQB: NVAE), a Greenfield partner, today announced plans to review next steps with the Kenya Ministry of Housing for a prospective 200 unit public housing project in a Webcast next week. NewMarket, Savanna and the Ministry of Housing plan to meet later this month to develop a financial plan for the prospective project. Earlier this year, the Companies hosted meetings in New York City with Kenya's Ministry of Housing and the National Housing Corporation of Kenya. The Kenya Ministry of Housing has launched a slum upgrade project (KENSUP) that has already piloted a relocation of Kibera slum residents to a temporary housing area pending a tear down and rebuild of their former housing facilities. NewMarket and Savanna East Africa are partnering in Kenya in an effort to contribute to and accelerate the Ministry of Housing's slum upgrade project.

Separately, Savanna East Africa, NuMobile, Inc. (OTCQB: NUBL) and China Crescent Enterprises, Inc. (OTCQB: CCTR) have partnered to build a wireless broadband network in Nairobi, Kenya. The joint project was developed through the NewMarket Technology Greenfield Partnership Program. The broadband network is intended to provide a wireless meter reading capability to local utility companies. Furthermore, plans were recently announced to expand the scope of the initial project pilot to additional cities based on recent client meetings.

A link to the Webcast will be made available on NewMarket's corporate website, www.newmarkettechnology.com, upon release.

About NewMarket Greenfield Partnership Program
NewMarket (PINKSHEETS: NWMT) launched the Greenfield Program last year to facilitate the start-up and early stage development of high-growth potential businesses. The Greenfield Program concentrates on early stage, rapid growth opportunities in the world's emerging markets, with program participants in China, Southeast Asia, South and Central America and East Africa, in addition to a handful of program participants in North America.

Greenfield Partners today include China Crescent Enterprises, Inc. (PINKSHEETS: CCTR), NuMobile, Inc. (PINKSHEETS: NUBL), Savanna East Africa, Inc. (PINKSHEETS: NVAE) and World Series of Golf, Inc. (PINKSHEETS: WSGF) (OTCQB: WSGF).

Follow the Greenfield Partnership Program on Facebook at: http://tinyurl.com/greenfieldpp and on Twitter at http://twitter.com/greenfieldpp.

About Savanna East Africa, Inc. (www.savannaea.com)
Savanna East Africa, Inc. launched an updated corporate strategy early this year to pursue several business lines in the growing economy of East Africa, initially in Kenya. Savanna has already begun several initiatives in the region to include initiatives in the Technology, Utility, Housing and Health products industries. The Company is also continuing to grow its existing oil and gas reclamation business with new management and business strategies. Savanna East Africa is a fully-reporting company with audited financial statements quoted on the new 'OTCQB.'

About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket Technology is a global small business incubator. NewMarket's current portfolio of operations provides systems integration, technology infrastructure services and emerging technology. NewMarket's operations strategically focus on providing technology and support services in emerging and developing economies with high growth rate potential where technology purchasing is on the rise. In addition to its base of operations in North America, NewMarket has operations today in the growing economies of China, Africa, Brazil and Northern Latin America. Overall, NewMarket reported over $95 million in revenue for 2008 and reported over $98 million in profitable revenue for 2009.

NewMarket's operations provide services and support for both brand-name technologies, such as Microsoft, as well as emerging technologies ranging from mobile computing to various security and wireless broadband technologies. NewMarket's rapid growth since 2002 placed the Company on the Deloitte Technology Fast 500 for 5 consecutive years. NewMarket was recognized as the third fastest growing technology company in the United States in 2006 and the number one fastest growing technology company in North Texas for two years in a row.

Contact Information

  • Contact:
    NewMarket Technology, Inc.
    Investor Relations
    214-722-3065
    Email Contact