Cyanconnode Regulatory News (CYAN)

29 Apr 2008 07:00

Cyan Holdings Plc29 April 2008 Press Release 29 April 2008 Cyan Holdings Plc ("Cyan" or "the Group") Cyan secures new order for utility metering in China Cyan Holdings Plc (AIM: CYAN.L), a fabless semiconductor company providingconfigurable application software and production ready modules based on featurerich, low power, microcontroller chips, is delighted to announce it has receiveda Letter of Credit supporting an order for 100,000 microcontroller chips to bedelivered to a new customer in China, South West Computer. The devices will be used in a wireless utility meter reading system designed byCyan in association with a new manufacturing partner. The first deliveries inMay will total 30,000 chips, with further deliveries scheduled on a monthlycycle. Monthly shipment volumes are expected to increase in the second half of2008 and continue throughout 2009. In October 2007 Cyan entered into a partnership agreement with South WestComputer whereby Cyan provides design expertise and microcontroller technologyfor a range of products to be manufactured and sold by South West Computer. South West Computer is headquartered in ChongQing and is a long establishedsupplier to the south west industrial regions of China including ChongQuig,Sichuan, GuiZhou, XinJiang, Ynnan, GuangXi and ZheJiang provinces. Kenn Lamb, CEO of Cyan, said: "We believe that this initial order clearlydemonstrates the effectiveness of Cyan's RF-Solved product. I am excited by thepotential of this new partnership to develop, manufacture and sell high volumesof electronic products based on Cyan's application software and microcontrollerdevices into the south west industrial region of China." -Ends- For further information, please contact:Cyan Holdings plcKenn Lamb, CEO Tel: +44 (0) 1954 234 400Andrew Lee, Finance Director www.cyantechnology.com Collins Stewart Europe LimitedNick Ellis / Oliver Quarmby Tel: +44 (0) 20 7523 8350Corporate Finance www.collinsstewart.com Media enquiries:Abchurch CommunicationsHeather Salmond / Jack Ballantyne Tel: +44 (0) 20 7398 7714jack.ballantyne@abchurch-group.com www.abchurch-group.com This information is provided by RNS The company news service from the London Stock Exchange