SOURCE: Silverstar Holdings

February 09, 2006 09:15 ET

Silverstar Holdings Affiliate, Magnolia Broadband's DiversityPlus™ Smart Antenna Technology Named to EDN'S Hot 100 Products of 2005

BOCA RATON, FL -- (MARKET WIRE) -- February 9, 2006 -- Silverstar Holdings, Ltd. (NASDAQ: SSTR) affiliate, Magnolia Broadband, Inc., a fabless semiconductor company and innovator of antenna diversity radio frequency (RF) solutions for the wireless industry, today announced that its chip technology has won EDN's Hot 100 Products of 2005 award. EDN's staff of technical editors analyzed and compared the industry's product introductions and selected Magnolia Broadband in the communications category for its innovative mobile transmit diversity antenna technology.

The deployment of Magnolia's DiversityPlus chips in dual antenna cell phones will enable wireless carriers to substantially increase subscribers within the same wireless infrastructure, eliminating the need for additional cell towers, while boosting capacity, coverage, mobile data throughput and battery life. Additional benefits for carriers and consumers will include more reliable connections, fewer "dead zones," improved quality of service and a substantial lowering of the energy that phones emit.

Products that appear in EDN's annual Hot 100 Products issue are chosen by its editors from the hundreds of newsworthy items that appear in the pages of EDN, whether they are placed in EDN's New Products Section, a feature story, or an online exclusive. The list encompasses a host of architectures, technologies and categories ranging from analog ICs to multimedia to test-and-measurement tools.

"Over the course of a year, EDN covers an incredible number of products spread across the breadth of the electronics industry," said Maury Wright, Editor-in-Chief of EDN. "We choose the 100 that we think will prove most significant and useful to the design engineer. Communications and multimedia were two of the leading application areas in our selections this year, as consumer electronics and audio-visual products continue to be the strongest market drivers in technology."

"This is a wonderful recognition of Magnolia's technology from one of the world's leading engineering magazines," said Larry Wasylin, Vice President Sales & Marketing of Magnolia Broadband. "EDN's award is yet another indicator that our DiversityPlus technology is a must have for all CDMA operators in the US and around the world."

About EDN

Known as the "Voice of the engineer," Waltham, MA-based EDN serves the vital information needs of design engineers and engineering managers worldwide. The EDN franchise includes EDN, EDN Europe, EDN Asia, EDN Australia, EDN China, EDN Japan, and EDN.com. EDN is published by Reed Business Information (www.reedbusiness.com/us), the largest business-to-business publisher in the U.S. and a member of the Reed Elsevier Group plc (NYSE: RUK) (NYSE: ENL) -- a world-leading publisher and information provider operating in the science and medical, legal, education and business-to-business industry sectors.

About Magnolia Broadband

Magnolia is an innovative developer of semiconductors for the wireless industry and the first company to provide mobile transmit diversity antenna technology, DiversityPlus™ using a unique RF (Radio Frequency) chipset. With DiversityPlus™ technology, wireless carriers are able to increase up to twice as many subscribers within the same wireless infrastructure while boosting phone coverage, data rates and battery performance without any changes to their infrastructure or related wireless air interface standards.

DiversityPlus™ technology benefits all wireless protocols and is currently being commercialized for CDMA2000, UMTS/WCDMA and WiMAX standards. Since its inception in 2001, Magnolia has raised more than $40 million in capital from notable investors which include Draper Fisher Jurvetson Gotham, ECentury Capital Partners, Intel Capital, SCP Private Equity Partners, Selway Partners and Silverstar Holdings. Magnolia has filed numerous patents related to its core technology. For more information, go to www.magnoliabroadband.com.

DiversityPlus™ is a trademark of Magnolia Broadband, Inc.

About Silverstar Holdings

Silverstar Holdings Ltd. is a publicly traded company (NASDAQ: SSTR), focusing on acquiring controlling positions in high growth retail driven and fee-based electronic game businesses that stand to benefit from the economies of scale generated by the Internet and other technology related platforms. It currently owns Fantasy Sports, Inc., a dominant provider of fee-based NASCAR related and other fantasy sports games, Strategy First Inc., a leading developer and worldwide publisher of entertainment software for the PC, as well as a stake in Magnolia Broadband, a fabless semiconductor company and innovator of radio frequency (RF) solutions for the cellular industry. www.silverstarholdings.com

The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the company's filings with the Securities and Exchange Commission.

Contact Information

  • Magnolia Contact Information
    Melissa Dolan
    Fusion Public Relations
    570 Seventh Avenue
    New York, NY 10018
    (212) 651-4236
    Email Contact

    Larry Wasylin
    Vice President Sales & Marketing
    Magnolia Broadband, Inc.
    550 Hills Drive
    Bedminster, NJ 07921
    (908) 234-0885
    Email Contact

    Silverstar Holdings Contact Information:

    Silverstar Holdings, Inc.
    Clive Kabatznik
    President and CEO
    (561) 479 0040
    Email Contact

    Or

    Alliance Advisors, LLC
    Alan Sheinwald
    (914) 244-0062
    Email Contact