Agreement with Selex Communications

14 Nov 2005 07:00

SOFTWARE RADIO TECHNOLOGY PLC AGREEMENT WITH SELEX COMMUNICATIONS The Directors of Software Radio Technology plc ("SRT") are pleased to announcethat on 11 November 2005, SRT entered into an agreement with SelexCommunications OTE SpA ("Selex"), an Italian manufacturer of TETRA equipment,for the supply of elements of SRT's TETRA handset technology in the period to31 December 2006. The agreement is expected to generate sales of up toUS$900,000 for SRT over that period.Selex is an existing SRT customer and its TETRA handsets incorporate SRTtechnology, which has previously been supplied on an ad hoc basis. Theagreement provides a framework for the ongoing supply of the technology as wellas demonstrating the rapid growth in orders anticipated by Selex.Selex is an established provider of TETRA base stations and handsets in Europe.Selex has announced that it expects to be a lead supplier of TETRA equipmentfor the recently announced Italian TETRA network that will support up to300,000 users, including the police.SRT's Commercial Director, Simon Tucker said, "The agreement with Selex, whichwas in negotiation at the time of our flotation on AIM, is a strong indicationof the rapid growth of the global TETRA market. Whilst the agreement does notcover our complete TETRA technology solution, we believe it is a first steptowards a much closer and mutually beneficial relationship with Selex in thefuture. In the short term it provides us with even greater exposure to thegrowth of the TETRA market worldwide, as well as generating cash flow andaccelerating SRT's progress towards profitability."Software Radio Technology plc 01761 409500 Simon Tucker simon.tucker@softwarerad.com Shamus Kelly shamus.kelly@softwarerad.com Westhouse Securities LLP 0161 838 9140 Tim Feather tim.feather@westhousesecurities.com The Communication Group 020 7630 1411 Richard Evans revans@thecommunicationgroup.co.ukNotes for EditorsAbout Software Radio TechnologySRT is a developer and licensor of digital wireless technology referencedesigns that facilitate the manufacture of sophisticated digital communicationsand tracking/surveillance products for use within the professional homelandsecurity market.SRT currently licenses technology solutions for TETRA handsets and automaticidentification systems (AIS) for ships and boats.SRT was admitted to AIM on 2 November 2005 in conjunction with a placing whichraised approximately ‚£4 million at 35p per share.About Selex CommunicationsBased in Florence, Selex is owned by the Italian conglomerate, Finemarchi andis a specialist manufacturer and provider of TETRA equipment and solutions.ENDSOFTWARE RADIO TECHNOLOGY PLC