LOS ANGELES, July 14, 2003 (PRIMEZONE) -- MB Tech, Inc. (OTCBB:MBTT) announced today that it expects to close on approximately eight million dollars in new orders from multiple customers providing direct broadcast satellite services. The orders are to be delivered in the fourth quarter of this year.
The orders have come as a direct result of management's ongoing North American marketing efforts. The Company plans to step-up its hiring to meet the increasing demand for its products and technologies. The products specified for delivery include the Company's single, dual and tri-horn LNB's.
Executives from the Company are currently traveling throughout the U.S. and Canada, meeting with various banking and brokerage relationships to explore opportunities and enhance awareness of the Company within the financial community.
Mr. Hanwook Bae, President of MB Tech, stated, "These orders should be fulfilled in the fourth quarter, which would lead to the Company exceeding its revenue projections for the year 2003." He added, "These orders are in addition to the orders received from European and Japanese suppliers last month. This vote of confidence in MB Tech helps to solidify our position as a global price performance leader in the satellite components industry."
About MB Tech, Inc.
MB Tech is a global manufacturer and distributor of satellite components. The primary product MB Tech produces is "LNB" electronic diodes, which are the essential elements enabling DBS satellites to receive and convert satellite transmission signals. MB Tech currently serves the satellite television market, and is expanding to serve the satellite radio and military hardware sectors.
MB Tech manufactures several proprietary LNB solutions that differentiate it from competitors. MB Tech's product line includes a dual-horn LNB which allows multiple set-top boxes to be connected to a single satellite dish, enabling viewing of multiple channels simultaneously on different television monitors, and a tri-horn LNB, which provides the ability to download signals from multiple satellites over a single dish.
Safe Harbor Act Disclaimer
The statements contained in this release and statements that the Company may make orally in connection with this release are not historical fact and are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. Actual results may differ materially from those forward-looking statements, as such statements involve risks and uncertainties that could significantly impact the company's business and the actual outcome and results may differ materially.