SOURCE: Xero Mobile

November 08, 2006 18:23 ET

Xero Mobile in Negotiations With Second Potential Buyer

LOS ANGELES, CA -- (MARKET WIRE) -- November 8, 2006 -- Xero Mobile, Inc. (PINKSHEETS: XRMB) announced today that the company is in negotiations with a second potential buyer.

Xero has been in negotiations with a third-party company and management team since late September. Those talks are ongoing, but a previously announced update planned for Thursday, Nov. 9, has been delayed because of the additional potential buyer.

"We're delighted at the interest shown and hope to announce something definitive soon," said Roger Davis, CEO of Xero.

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.

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