Axesstel COO David Morash Appointed President.Business Editors/High-Tech Writers SAN DIEGO--(BUSINESS WIRE)--April 28, 2004 Axesstel, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AXES), a leader in developing, manufacturing and marketing high-quality, CDMA-based fixed wireless local loop (WLL See wireless local loop and PHS-WLL. ), hybrid terminals and engineering services to operators worldwide, today announced that COO David Morash has been named President of the Company. "In just a few months as Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , Dave Morash has proven his ability to guide Axesstel toward a very dynamic and productive future, and we are enthusiastic about naming him President and COO," commented Mike Kwon, Chairman of the Board of Axesstel. "The groundwork laid in 2003 is already yielding us some of the largest orders we have ever won, and it is still early in what is already shaping up to be a very successful year." The Company also announced that Satoru Yukie will be leading a new telecommunications venture, Axesstel Technologies, Inc., with which Axesstel, Inc. will have an ongoing business relationship as a minority stakeholder stakeholder n. a person having in his/her possession (holding) money or property in which he/she has no interest, right or title, awaiting the outcome of a dispute between two or more claimants to the money or property. . Mr. Kwon commented, "Our progress and growth under Satoru Yukie's leadership has been nothing short of phenomenal, and we cannot thank him enough for his years of successful service with Axesstel, Inc. We will miss working with him as a colleague, but look forward to working with him in his new capacity with Axesstel Technologies." About Axesstel, Inc. Axesstel, Inc., a Nevada Corporation A Nevada Corporation is a corporation chartered under the laws of the U.S. state of Nevada. Nevada, like the state of Delaware (See Delaware corporation), is well known as a corporate haven. (OTCBB:AXES), is powering the next generation of wireless, fixed and hybrid mobile devices based on CDMA (Code Division Multiple Access) A method for transmitting simultaneous signals over a shared portion of the spectrum. The foremost application of CDMA is the digital cellular phone technology from QUALCOMM that operates in the 800 MHz band and 1.9 GHz PCS band. , CDMA2000, 802.11, and emerging 3G and 4G broadband IP technologies. The Company is pursuing technology and applications that will enable the development and delivery of carrier-class, subscriber-based solutions, including fixed terminals, handsets and wireless payphones. To date, Axesstel's QUALCOMM-licensed products can be found in more than 15 countries worldwide. The company is headquartered in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , with a research and development center in Seoul, Korea. For more information, visit the company's Web site at www.axesstel.com. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The Company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include, but are not limited to, the risk factors noted in the Company's filings with the Securities & Exchange Commission, such as the rapidly changing nature of technology, evolving industry standards, and frequent introductions of new products and enhancements by competitors; the competitive nature of the markets for Axesstel's products; Axesstel's ability to gain market acceptance for its products; the Company's ability to attract and retain skilled personnel; and the Company's reliance on third-party suppliers. |
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