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CHIIIIIIIIIIIIONG AH!!!!!!!!!!!!!!!!!!!!!!!
ADDVALUE TECHNOLOGIES LTD Registration No. 199603037H NEW BUSINESS UPDATE - ADDVALUE SECURES PHASED CONTRACT FOR DESIGN AND SUPPLY OF INMARSAT CLASS 11 LAND MOBILE BGAN TERMINALS The Board of Directors of Addvalue Technologies Ltd (the ?Company?) is pleased to announce that Addvalue Communications Pte Ltd, a wholly-owned subsidiary of the Company, has secured a phased contract, potentially worth more than US$1.0 million, subject to completion and clearance of each phase, for the design and supply of INMARSAT Class 11 Land Mobile BGAN Terminals for Global SATCOM Technology, Inc. These Land Mobile BGAN Terminals are intended to be utilized by a U.S. government entity. Global SATCOM Technology, Inc., a company incorporated in the State of Maryland, is a global leader in transportable satellite communications systems for commercial and government applications. It specializes in the design, integration, test, manufacture, supply, servicing, and installation of satellite based telecommunications systems to meet the specific needs of its commercial and government customers around the world. Please refer to http://www.globalsatcom.com/index.asp for more information about Global SATCOM Technology, Inc. None of the directors or the substantial shareholders of the Company has any direct or indirect interest in the above transaction. BY ORDER OF THE BOARD Submitted by: Foo Soon Soo Company Secretary Dated: 24 October 2007 |