Phantom Fiber Corporation
OTC Bulletin Board : PHFB

Phantom Fiber Corporation

May 31, 2005 09:01 ET

Phantom Fiber Signs License Agreement with Leading Network Carrier to Provide Mobile Games

TORONTO, ONTARIO--(CCNMatthews - May 31, 2005) -

Strategic deal positions Phantom Fiber to capitalize on emerging market for downloadable games

Phantom Fiber Corporation ("the Company") (OTCBB:PHFB), the leading developer of wireless platform software, is pleased to announce that it has signed a license agreement with one of Canada's largest mobile carriers. Under terms of the agreement, the Company will enable games from existing partners on one of the leading mobile game portals in Canada. Mobile games will be distributed as connected tournament-style or simple download stand-alone games at a retail price established by the Company.

Mobile games are becoming the most popular entertainment application downloaded to cellular phones worldwide. According to leading research firm Jupiter Media, the mobile-game market experienced growth of 300% in 2004 with revenue totalling $72 million U.S. when compared to the previous year. The market researcher expects growth to remain healthy as more and more users continue to download games from mobile carriers. An Ovum Research study also concluded that mobile games passed the important $1 billion U.S. mark for global revenues during 2004 while Datamonitor forecasts that the global mobile games market will be worth $17.5 billion U.S. This rapid growth for mobile games is supported by device penetration of java-enabled phones expected to reach 83% of the installed base for global devices in 2008 according to Ovum Research.

Jeff Halloran, President and CEO for Phantom Fiber commented, "Our agreement opens another chapter in our business strategy to significantly capture additional revenue in niche markets. Carriers have become aggressive in promoting their own download portals for arcade-style, multimedia mobile games. The carrier distribution channel represents a significant revenue opportunity for both Phantom Fiber and our partners by expanding our platform reach and brand games from partners in the network carrier universe. Even more exciting is the Yankee Group study in July 2004 which confirmed that 58% of mobile gamers are women dispelling the myth that the mobile games market caters to a male-oriented audience only. The strength and breadth of our partnerships will enable us to deliver non-connected stand-alone and connected multi-player mobile games for leading network carriers for many years to come."

Phantom Fiber has also completely re-branded and re-designed its corporate website to introduce its 3rd Generation Advanced Wireless Platform ("3G Powered") which now supports over 1000 mobile devices worldwide and includes a host of new features of benefit to gaming operators serving a global audience. After three generations of successful innovation to deliver the world's most advanced wireless platform, gaming operators can now benefit from the broadest support available for mobile devices, mobile platforms and environments. Phantom Fiber is committed to "Enhancing Mobility Worldwide".

Safe Harbor Statement

Some statements in this release are "forward-looking statements" as that term is defined in Sections 27A of the Securities Act of 1933 as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934 as amended (the "Exchange Act"), and are subject to certain risks and uncertainties, including, but not limited to, economic conditions, competition, changes in laws and the demand for the company's goods and services, which could significantly affect anticipated future results. Actual results may differ materially from any forward-looking statements.

About Phantom Fiber Corporation

Phantom Fiber is the leading developer of wireless platform software that enables our customers to deliver high-performance applications across global communications networks to mobile users. Our wireless platform extends the rich multimedia content and user experience of existing Internet web sites securely and instantly to a wide array of wireless devices including PDAs and programmable cellphones.

This platform is already deployed to most segments of the global gaming industry and can be used by enterprises seeking to implement high performance mobile applications in such markets as: remote medical record access by physicians; securities research and trading; and, remote monitoring and the management of logistics and distribution.

Phantom Fiber Corporation (OTC Bulletin Board: PHFB - News)

Contact Information

  • Phantom Fiber Corporation
    Alexander S. Bosika
    Investor Relations
    (416) 703-4007
    IR@phantomfiber.com