Mobilityone Regulatory News (MBO)

26 Oct 2007 10:45

MobilityOne Limited26 October 2007 MobilityOne Limited ("MobilityOne" or "the Company") Further agreements signed to increase distribution points MobilityOne Limited ("MobilityOne") is pleased to announce that its wholly-ownedsubsidiary, MobilityOne Sdn Bhd ("MobilityOne Malaysia") has signed agreementswith Bank Kerjasama Rakyat Malaysia Berhad ("Bank Rakyat") and Key Elite Sdn Bhd("Key Elite") to sell its products and services through their distributionchannels. Bank Rakyat is a licensed financial institution in Malaysia with over 100branches nationwide and circa 120 Automated Teller Machines ('ATMs'). Thisagreement enables MobilityOne Malaysia to sell its wide range of electronicbased products and services to the bank's customers through its payment channelssuch as Internet banking and ATMs. The deal further strengthens MobilityOne'sreach through banking partners, adding to existing agreements with CIMB BankBerhad (over 1,000 ATMs) and RHB Bank Berhad (over 500 ATMs). Key Elite is a wholly-owned subsidiary of CNI Holdings Berhad ("CNI"), one ofthe top multi-level marketing companies in Malaysia. Multi-level marketing is avery popular method of business in Malaysia which uses a network of independentbusiness owners to sell consumer products. The agreement with Key Elite enablesMobilityOne Malaysia to sell its products and services via the distributionpoints located at CNI's distribution centres, through its e-commerce website andvia short messaging services ("SMS") for CNI's distributors. CNI currently has66 distribution centers and approximately 250,000 distributors throughoutMalaysia. Hussian A. Rahaman, Chief Executive Officer of MobilityOne, commented:"These agreements will allow us to further expand our distribution channels andprovide access to both institutions' extensive customer bases. The addition ofboth Bank Rakyat and Key Elite builds upon the already impressive list ofbusiness partners that use our proprietary technology platform." For further information, please contact: MobilityOne +6 03 6286 1999Hussian A. Rahman, CEO www.mobilityone.com.myhar@mobilityone.com.mySeah Boon Chin, Corporate Finance Directordominic@mobilityone.com.my HB Corporate +44 (0)20 7510 8600Luke Cairns www.hbcorporate.co.ukRachel KaneJim McGeever Threadneedle Communications +44 (0) 20 7936 9605Graham Herring www.threadneedlepr.co.ukJosh Royston Ends About MobilityOne MobilityOne is the holding company of an established group of companies("Group") based in Malaysia in the business of providing e-commerceinfrastructure payment solutions and platforms through their proprietarytechnology solutions, which are marketed under the brands MoCSTM and ABOSSETM. The Group has developed an end-to-end e-commerce solution which connects variousservice providers across several industries such as banking, telecommunicationand transportation through multiple distribution devices such as EDC terminals,short messaging services, Automated Teller Machine, and Internet banking. The group's technology platform is flexible, scalable and has been designed tofacilitate cash, debit card and credit card transactions (according to thedevice) from multiple devices while controlling and monitoring the distributionof different products and services. For more information, please refer to our website at http://www.mobilityone.com.my About Bank Rakyat Bank Rakyat was established in September 1954 and its mission is to raise theeconomic well-being of its members by providing financing facilities foragricultural purposes, initiatives involving production, marketing, industry,fishery, transportation, housing, business and other activities that arebeneficial to its members and to promote thrift and savings. For more information, please refer to their website at http://www.bankrakyat.com.my About Key Elite Key Elite, a wholly-owned subsidiary of CNI was founded in 2006 to initiate andmanage all aspects of CNI's business relating to technology, e-commerce andcatalog shopping. Whereas CNI is a holding companies of several multi-levelmarketing companies, which has grown rapidly over the years to emerge as one ofthe largest multi-level marketing entity in Malaysia. For more information, please refer to their website at http://www.mycni.com.my This information is provided by RNS The company news service from the London Stock Exchange