Contact Information: CONTACT: Medis Technologies Ltd. Robert K. Lifton Chairman & CEO (212) 935-8484 -OR- INVESTOR RELATIONS COUNSEL: The Equity Group Inc. Adam Prior (212) 836-9606
Medis Technologies and Quasar Business Solutions Inc Announce Worldwide Distribution / Ecommerce Partnership and Purchase Order
| Source: Medis Technologies Ltd.
NEW YORK, NY -- (MARKET WIRE) -- October 30, 2006 -- Medis Technologies Ltd. (NASDAQ : MDTL )
("Medis") and Quasar Business Solutions Inc, a provider of software
solutions for the enterprise market, today announced a worldwide
distribution and ecommerce partnership to market and sell the Medis 24/7
Fuel Cell Power Pack to the Business to Business (B2B), Business to
Consumer (B2C) and directly to the Enterprise Market. Quasar Business
Solutions Inc has placed an Initial Purchase Order with Medis for 1,000,000
units of the Medis 24/7 Power Packs as a blanket purchase order to be drawn
down over a 1 year period. The Medis 24/7 Power Pack provides extended
power to Cellphones, Smartphones, Pocket PC's, MP3s, handheld gaming
devices and other portable electronic devices.
Quasar is a partner of world-class vendors such as Microsoft Corp, as a
"Gold Certified Partner" as well as Business Objects. Their team has
implemented large scale information systems based on the Microsoft
platform. Quasar Business Solutions Inc. has extended its years of
experience in developing Business Intelligence products, tools and
applications into the newest technologies on the Microsoft Business
Intelligence framework including Windows Mobile powered Smartphones &
Pocket PC's.
"Providing mobility solutions is a major focus for us at Quasar, and we are
very excited to have the opportunity to launch the Medis 24/7 Power Pack in
the Enterprise Market," said Michael J More O'Ferrall, CEO of Quasar
Business Solutions Inc. "The Medis 24/7 Power Pack is highly synergistic
with the existing requirements of our customers that want to have access to
corporate information on the go. By its unique ability to provide extended
runtimes, wherever and whenever our customers need it, we believe our
customers will benefit through increased productivity."
"We are delighted to be able to join forces with such an innovative company
as Quasar," said Robert K. Lifton, Chairman & CEO of Medis Technologies.
"In view of their broad Enterprise customer base and the commitment Quasar
has made to the Medis 24/7 Power Pack, we believe that Quasar will be able
to broadly place power packs in the hands of mobile users and dealers
throughout the world. We are also pleased that Quasar will be working with
us on an ecommerce solution to support Business to Business and Business to
Consumer. This will streamline our marketing and distribution capability
and allow for ease of ordering for those businesses and consumers wishing
to purchase the Medis 24/7 Power Packs through the Internet or Internal
Corporate Ordering Databases."
About Quasar Business Solutions Inc
As a trusted partner of BI leaders, Quasar provides innovative business
intelligence solutions to a long list of clients throughout North America,
helping them to reduce their reporting costs, improve their profitability,
and increase their accountability. Our team -- empowered by our flexible
corporate culture -- has implemented some of the largest information
solutions ever developed. Visit us at http://www.quasarinc.com.
Medis Technologies' primary focus is on direct liquid fuel cell technology.
Its business strategy is to sell its products to end users through retail
outlets, service providers and to the military and other markets. Medis has
also developed the CellScan with many potential applications relating to
disease diagnostics and chemo sensitivity. Additionally, Medis' product
pipeline includes other technologies, in varying stages of development.
This press release may contain forward-looking statements, which are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. In some cases you can identify those so-called
"forward-looking statements" by words such as "may," "will," "should,"
"expects," "plans," "targets," "believes," "anticipates," "estimates,"
"predicts," "potential," or "continue" or the negative of those words and
other comparable words. These forward-looking statements are subject to
risks and uncertainties, product tests, commercialization risks,
availability of financing and results of financing efforts that could cause
actual results to differ materially from historical results or those
anticipated. Further information regarding these and other risks is
described from time to time in the Company's filings with the SEC. We
assume no obligation to update or alter our forward-looking statements made
in this release or in any periodic report filed by us under the Securities
Exchange Act of 1934 or any other document, whether as a result of new
information, future events or otherwise, except as otherwise required by
applicable federal securities laws.
This press release is available on Medis' web site at
www.medistechnologies.com.