POTOMAC, Md., March 2, 2004 (PRIMEZONE) -- Airbee Wireless Inc., (Pink Sheets:ABEW), innovators of intelligent software for wireless communications, has received a letter of intent with SupaRule Systems Ltd. to explore the possibility of integrating Airbee products into SupaRule's electronic product platforms. SupaRule is a leading manufacturer and supplier of electronic measurement instruments for technical personnel in the utility, industrial and commercial sectors.
As part of the Letter of Intent, Airbee products may be adopted, in whole or in part, onto or into SupaRule's electronic products and integrated circuit solutions. Resulting product concepts and product lines will be marketed to SupaRule's customers worldwide.
"We are very excited about the multitude of possibilities for integrating Airbee's technology within the current SupaRule product base," said Airbee CEO Sundaresan Raja. "We have had extensive dialogue with SupaRule management, and we believe they will be a long-term partner for us. We look forward to working closely with SupaRule's team of engineers to design a number of new product concepts in the coming months."
After the appropriate technical interchange, the parties plan to prepare a memorandum of understanding and statement of work, resulting in a business proposal and contract or license.
About Airbee Wireless
Airbee Wireless develops and licenses innovative, intelligent software for wireless communications. The Company's technology is embedded on microchips for use in many applications and devices serving the consumer and business marketplace. Airbee's competitive edge is attributed to utilizing a software approach vs. a hardware approach - enabling it to provide lower cost, greater flexibility and shorter time to market for its customers. To learn more about Airbee Wireless, please visit its website at: www.airbeewireless.com .
About SupaRule
Founded in 1989 and located at the National Technology Park in Limerick, Ireland, SupaRule develops, manufactures and supplies electronic products for technical personnel in the utility, industrial, construction and commercial sectors. SupaRule is a world leader in the height measurement of overhead conductors using ultrasonic technology, and its innovative products allow client companies to exploit new opportunities in testing and measurement. SupaRule's products are used by electricians, engineers, surveyors and construction workers across multiple industry sectors, including building, utilities, transportation and electrical manufacture and design. For additional information about SupaRule, visit: www.suparule.com .
Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. Airbee Wireless, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, and/or changes in our business strategies.