Orsus Xelent Technologies, Inc. (OTCBB: ORXT), an emerging designer and manufacturer of award-winning mobile phones in The People's Republic of China (PRC), today announced a contract to sell 10,000 model X180 handsets to BOC International (China) Limited (BOCI China). A wholly owned Hong Kong-based subsidiary of the Bank of China, BOCI China has $1 Billion US in registered capital, making it the largest Investment Bank in the PRC. This is the second major contract announced by the company in 2007 to sell the Specialized Application Devices which use the China Unicom CDMA-1X wireless data network.
These Specialized Application Devices will act as mobile transaction terminals that are loaded with professional investment information and a trading software platform. They will provide the BOCI China's corporate clients real-time information about the price, movements and volumes of each stock or fund, and will enable securities trades from any location. The model X180 mobile phones feature state-of-the-art design and specialized application functions tailored to the specific operational requirements of the customer. The X180 features a 2.8-inch TFT touch screen, 1.3 mega pixel CMOS camera, SD Memory Card support, 128MB SRAM, Samsung 400M CPU, WAP 2.0, and CDMA 1x -- packaged in a sleek bar style design.
"BOCI China has indicated that this initial purchase of devices is intended for its clients in the Guangdong Provincial secondary market," stated Xavier Xin Wang, President and CEO of Orsus Xelent. "It anticipates expanding the roll-out of the devices to promote its business throughout the PRC, including Shanghai, Zhejiang and ten other areas, in the future. We expect that the rapid growth of China's investment industry will provide a sizeable market opportunity for our Specialized Application Devices."
With the rapid growth in the mobile communications industry in the PRC, ORXT has identified a market opportunity in delivering specialized applications. By incorporating features and functionality that are tailored to specific industry requirements, the company can increase the Return on Investment (ROI) for its customers. In February 2007, Orsus Xelent applied to the Chinese Trademark Bureau for the registration of "ProxLink" as an independent trademark covering the use of industry specific wireless applications. X180 products will be the first generation in the "ProxLink" solution set, which is expected to be a major source of revenue growth.
About BOC International (China) Limited (BOCI China)
BOC International Holdings Limited ("BOCI") is a wholly owned Hong Kong-based subsidiary of the Bank of China with registered capital of US$1bn, and 11 subsidiaries worldwide. Its businesses span across Europe and Asia. BOCI is the first investment bank established in China, and has operated overseas in accordance with international regulations, for over 20 years. It operates under the supervision of the regulatory authorities of the Mainland, Hong Kong and the United Kingdom, and understands the rules and modus operating of international capital markets. Today, BOCI has China's strongest professional investment banking team overseas, the biggest independent international placement network, the largest amount of assets under management and the most globalised of operations for Mainland investment banks operating abroad and in China.
About Orsus Xelent Technologies, Inc.
Incorporated in the state of Delaware and headquartered in Beijing, China, Orsus Xelent Technologies, Inc. is an emerging designer and manufacturer of award-winning mobile phones for the Asian market, primarily the People's Republic of China (PRC). The company's business encompasses the design of mobile phones, related digital circuits, and software development, and it is a recognized pioneer in mobile phone integration technology. It introduced the region's first wristwatch-style cellular phone, and it continues to break new ground with state-of-the-art phones that include advanced features such as finger print recognition and touch-screen displays. Since the company's launch in 2004, it has established "Orsus" as a popular brand and achieved a significant share of the world's largest mobile phone market. It maintains more than 179 service centers across the PRC, with additional offices in New York, Shanghai, Hong Kong, Shenzhen, and Tianjin. For more information, please visit the company's web site: www.orsus-xelent.com.
Information Regarding Forward-Looking Statements
Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the Securities and Exchange Commission.
Orsus Xelent Technologies, Inc.
Xavier Xin Wang
President & CEO