Celtron International Subsidiary Signs Contracts With Insurance Groups Adding Up To 10,000 Resellers.

Business Editors

MIDRAND, South Africa--(BUSINESS WIRE)--Oct. 9, 2003

Celtron International Inc. (OTCBB:CLTR) announced today that Orbtech Holdings Limited, Celtron's South African subsidiary, has signed contracts with short term insurance leaders, C&F Outsource Management, Insurance Platform and the South African Independent Platform for Exchange (SAIPEX), whereby Orbtech's Buddi III vehicle monitoring, tracking and stolen vehicle recovery products and services will be promoted and distributed to the domestic and private vehicle market utilizing the SAIPEX channel.

Mr. Allen Harington, Chairman of Celtron, confirmed that Orbtech Holdings Limited has signed agreements whereby SAIPEX will be the platform that will springboard the newly released Buddi III vehicle monitoring, tracking and stolen vehicle recovery product offering into the domestic vehicle market. According to Mr. Harington, "SAIPEX has an extensive short term insurance broker subscriber base, in fact, the largest in Africa and will be the point of entry for our domestic market offerings."

According to Mr. Ron Pienaar, Managing Director of Orbtech Holdings, SAIPEX, C&F Outsource Management and Insurance Platform have developed a unique go-to-market channel that will reach more than 10,000 short term insurance brokers and advisors. SAIPEX has, to date, registered approximately 10,600 brokers and advisors on their system.

"Launching the new Buddi III in the shortest possible time, achieving maximum market penetration without excessive marketing cost, and minimizing infrastructure setup cost was the challenge that Orbtech faced. Discussions with Mr. Albertus Smit, Director of C&F Outsource management, led to additional contracts with Insurance Platform and SAIPEX, which will help Orbtech achieve its goal of quickly and efficiently penetrating the domestic market," said Pienaar.

"The 10,600 brokers have a direct client base of more than 1 million clients, all of whom are registered on the SAIPEX platform," says Pienaar. "By utilizing the SAIPEX platform, Orbtech immediately has access to not only a potential qualified client base of over 1 million prospects, but also engages a marketing and sales force of 10,600 brokers and advisors at minimum cost. The structure that Mr. Smit has engineered will enable Orbtech to achieve maximum market penetration and critical mass in a very short time frame, and establish Orbtech as a market leader in the Buddi III product class. It will also be the first time that a Broker or Agent not employed directly by Orbtech will be remunerated on an annuity commission base in relation to the short term insurance industry norms," he added.

C&F Outsource Management will be administering the contractual and client-facing facets of the channel, with Insurance Platform acting as insurance product and solutions coordinator and regulator relating to the insurance requirements and product acceptance elements of the structure. SAIPEX provides an online, web enabled interactive communication platform that supports and provides broker access to various of the major insurance houses, as well as facilitates broker or agent branded communication and tools directly to the insured client.

"This is a phenomenal step towards Orbtech penetrating a new market in record time and at record cost," says Mr. Harington. "SAIPEX is not only unique in the manner in which it re-intermediates the broker into the insurance company-to-client channel, but also in the practical and cost effective communication channel it provides to the Broker and Orbtech to reach and manage the end-user."

According to Mr. Allen Harington, the implementation of this agreement will aid the growth strategy of Orbtech Holdings in South Africa and provide the level of market penetration that is required to sustain a healthy growth path and fund international R&D efforts.

This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Celtron International Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

For further information, contact Allen Harington; Company President, at + 27 11 652-6350.