TORONTO, April 12 /CNW/ - Polar Wireless Corp. (OTCBB: BCDI) (Frankfurt: 62o) is pleased to announce the entering into
of an exclusive distribution agreement with Hasan Associates (Private)
Limited ("HAL") of Karachi, Pakistan, pursuant to which HAL has been
granted exclusive distribution rights for the Polar SIM in Pakistan and
the United Arab Emirates.
HAL has a strong presence in both countries and will provide full
marketing and distribution services to its existing territories. The
multi-year contract is subject to minimum volumes and involves the
sharing of SIM replenishment fees.
The Pakistani market has seen explosive growth going from approximately
300,000 mobile telephone users in 2000 to over 90 million today.
According to TechLahore, the average Pakistani user recycles his phone
every year at a cost of approximately US$100 and total cell phone
spending exceeds US$2 billion annually. Cell phone usage in the UAE has reached 65% saturation of the population
or approximately 2.3 million users with average use estimated between 3
and 4 hours daily. *
* Barwind, Jack A., Zayed University, Dubai
About Polar Wireless
The Company is a mobile virtual network operator (MVNO) that works in
conjunction with established major mobile service providers. The
Company's patent pending mobile solution will significantly reduce
mobile roaming charges. The product is operable in 213 countries
through partner carrier networks. This provides the first global
network solution for mobile users to dramatically reduce roaming
surcharges while allowing users to maintain their current mobile
number, handset and carrier relationship.
Safe Harbor Statement
Except for statements of historical fact contained herein, the
statements in this release are forward-looking and made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act
of 1995 and may involve a number of risks and uncertainties.
Forward-looking statements are based on information available to the
Company's management as of the date hereof, and they involve judgments
and estimates. Forward-looking statements include expressions such as
"believe," "anticipate," "expect," "estimate," "intend," "may," "plan,"
"predict," "will," and similar terms and expressions and include but
are not limited to, the ability of the Company to raise additional
capital to finance its operating activities, the effectiveness,
profitability and marketability of its products, the future trading of
its securities, the ability of the Company to operate as a public
company, the period of time during which its current liquidity will
enable the Company to fund its operations, its ability to protect its
proprietary information, the general economic and business environment
and conditions, the volatility of the operating results and financial
condition of the Company, the ability to attract and retain qualified
senior management personnel and research and development staff of the
Company, and other risks and uncertainties disclosed in the filings of
the Company with the Securities and Exchange Commission.
SOURCE Polar Wireless Corp.
For further information:
Polar Wireless Corp.
G. Kelly O'Dea
Chairman and Chief Executive Officer