TORONTO, May 19, 2003 (PRIMEZONE) -- Witnet International, Inc. (OTCBB:WTNT) announced today that it will introduce a new telecommunications service technology to major service providers in North America for their customers.
The Company estimates revenues of up to $5,000,000 per month if they capture just half of one percent of the potential market. There are over 141,000,000 cellular service subscribers in the United States and the industry had revenues of over $76 Billion in billing revenues and over 600 Billion wireless minutes billed in the United States according to the Cellular Telecommunications and Internet Association for the year 2002.
The service, Witnet calls "My Way", is a new way to customize the ring sound the caller hears dialing a cell phone number. This is not to be confused with customized cell phone ring tones and themes rather, when someone calls your cell phone they will hear your own personal choice of song, or voice whether it's a pop hit, rock and roll classic, an actors' or child's voice greeting instead of the traditional ring.
"Service options play an important role in profits and competition of every cellular service provider. These options range anywhere from caller ID to call waiting. The next breed of service options will be services such as "My Way" according to Mun Su Han, President of Witnet.
The service will be offered to wireless telecommunications service providers such as Verizon, T-Mobilie and AT&T etc. in the United States as well as Bell, Telus and Rogers in Canada.
"Our software and hardware engineers will design specialized coloring services to cell phone service providers throughout North America." Said Mun Su Han, President of Witnet.
This customized service is being offered in Korea where it was first introduced for $1 per month as an additional feature such as call waiting. Witnet will seek to co-market the service with the larger service providers and intend to offer the service for $1 per month plus $1 for every time a customer changes their theme.
SK Telecom in Korea has over five million of their seventeen million customers using their service today. That equates to over $5,000,000 per month for the monthly fee alone depending on how the service is charged could mean even more revenues.
It is a profitable proposition for service providers to offer compelling new services in addition to the fact that the service offering in itself is a value proposition that will differentiate various service providers from their competition within various geographical markets.
The Company will work with the various record labels to offer popular songs from all genres to license the songs in what the Company believes will enhance the marketing initiatives of the labels themselves.
Witnet's specialization in the area of user interface software and design of specialized telecommunications and wireless internet related applications make them well suited to excel in this area.
The Company continues to market its main products in the wireless internet space for PDA's such as "Mobilick" however this latest development could help Witnet move into broader market territory along with its new MocaPhone VoIP offerings.
About Witnet:
Witnet International Inc. (OTCBB:WTNT) is a software development company with offices in Seoul, South Korea and Toronto, Canada.
Business partners include HP Japan and South Korea, LG Telecom and other major technology companies.
More information about Witnet and its products can be found at the Company's website, www.witnet21.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan", "confident that", "believe", "expect", or "intend to", and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any forward-looking statements.