NEW YORK, Nov. 14, 2005 (PRIMEZONE) -- Orsus Xelent Technologies, Inc. (OTCBB:ORXT) today announced that the Company's wholly owned Hong Kong subsidiary, Orsus Xelent Trading (HK) Company Limited, has received orders totaling 26,000 units of the S788, the Company's newest PDA mobile phone, from two new customers in Singapore.
The Company is scheduled to ship the S788 phones to the Singaporean customers over the next five months. The S788 features MP3, MPEG4, 3GPP play and recording, Handwriting, 2M CMOS camera, U-disk support, External T-Flash memory card and FM radio. Such a feature-rich PDA cellular phone is expected to be introduced in the domestic Chinese market in early 2006.
Orsus Xelent Technologies opened its Hong Kong operations in September 2005 to offer the Company's cellular phone products and R&D services in overseas markets such as Hong Kong, Southeast Asia, Latin America, Africa and the Middle East. In its first month of business, Orsus Xelent Trading (HK) Company Limited sold 10,000 units of Orsus' innovative and economically-priced M18+ model to a customer in Hong Kong.
Wang Xin, President and CEO of the Company, stated, "We are pleased with our successful development of the overseas market in 2005. While 26,000 units is not a very large order, it demonstrates the recognition of our feature-rich cellular phones in the Southeast Asian and Hong Kong markets and we are confident of the market potential in these regions. Going forward, we believe that our Hong Kong subsidiary will continue to serve as a gateway for our products to expand into international markets."
Additionally, Orsus-Xelent Technologies' Board of Directors would like to announce that effective October 26, 2005, Mr. Zhao Hongwei has been appointed as the Company's Chief Financial Officer, replacing Ms. Tian Jun who tendered her resignation due to personal reasons. The Board would like to take this opportunity to express thanks to Ms. Tian for her past contribution during her term of service and welcome Mr. Zhao to the Company. Mr. Zhao has over 15 years of experience in accounting and financial management, mainly with listed companies in Hong Kong and Foreign Invested Enterprise in the PRC, most recently serving as the regional financial controller of XinAo Gas Holdings Limited, a listed company in Hong Kong.
About Orsus Xelent Technologies, Inc.
Orsus Xelent Technologies, Inc. is a designer of feature-rich mobile phones in the People's Republic of China. These features include 1.8-inch to 2.2-inch TFT dual-color display, 1 to 120 minutes video recording, 300K to 2.0 Mega pixels photography, MP3, MPEG4 and U disk support, dual stereo speakers, multimedia messaging, 40 to 64 polyphonic ring tones, flip-phone technology and innovative lightweight design. Orsus achieves optimum market penetration via collaboration with two strategic partners: CEC Cellular Limited provides low-cost production capacity as well as extensive sales and distribution networks; Beijing Xingwang Shidai Tech & Trading Co., Ltd. provides provincial distributors, city distributors and dealers with extensive sales networks throughout the PRC.
For further information, please consult 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.