Cyber Digital, Inc. Outlines Success in $7 Billion Nigerian Telecom Market.Business Editors NEW YORK--(BUSINESS WIRE)--June 11, 2002 Cyber Digital Expects Revenue of $79.6 Million on Sale of 43,500 lines from 2002 through 2003 Cyber Digital, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CYBD), a leading manufacturer and software developer of wireless and landline digital voice and Internet systems, outlined its success in the $7 billion Nigerian Telecom market. Cyber Digital expects to generate revenue of $79.6 million from the sale of 43,500 telephone lines from calendar year 2002 through 2003. Over the past two years, Cyber Digital has formed sales, marketing and engineering partnerships with several local Nigerian firms. These firms have contributed a significant amount of their resources towards the execution of Cyber Digital's solid business plan. Recently, Cyber Digital received several contracts and commitments from federal government, local state governments and a private telephone operator, totaling $79.6 million. These contracts provide significant cash-in-advance payments, enabling Cyber Digital to grow and expand its business while remaining debt free. The Nigerian Telecom market is expected to grow from 400,000 to 5,000,000 lines by 2005. Cyber Digital has set the foundation of its network in several of Nigeria's thirty-six states, therefore, it believes it will become the predominant equipment supplier to service providers in the country. For the next ten years, Cyber Digital will advise each state operator on the expansion of their networks, leading to significant recurring re·cur intr.v. re·curred, re·cur·ring, re·curs 1. To happen, come up, or show up again or repeatedly. 2. To return to one's attention or memory. 3. To return in thought or discourse. annual revenue from management and warranty services. "I credit our success in Nigeria to strong strategic partnerships combined with many of our dedicated employees who have been with us over eight years," said J.C. Chatpar Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , who recently purchased 170,000 shares of Cyber Digital stock in the open market. In a report released on April 25, 2002 Investrend analyst J. Damien Kolb issued a BUY recommendation on Cyber Digital with a twelve month price target of $3.75. As of May 31,2002 Cyber Digital was noted amongst the "top three of the seven most under market-valued companies covered by Investrend Research." About Cyber Digital, Inc. Cyber Digital, Inc., is a leading manufacturer and software developer of advanced digital voice switching systems Switching systems (communications) The assemblies of switching and control devices provided so that any station in a communications system may be connected as desired with any other station. for network operators worldwide. Cyber Digital is also a leading developer and provider of an array of ultra-high performance Internet Protocol See Internet and TCP/IP. (networking) Internet Protocol - (IP) The network layer for the TCP/IP protocol suite widely used on Ethernet networks, defined in STD 5, RFC 791. IP is a connectionless, best-effort packet switching protocol. (IP) infrastructure software and systems such as routers, gateways, firewalls and servers for next-generation local-loop digital broadband and virtual private network (VPN (Virtual Private Network) A private network that is configured within a public network (a carrier's network or the Internet) in order to take advantage of the economies of scale and management facilities of large networks. ) applications. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , pursuant to the "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. " provisions of 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, that involve a number of risks and uncertainties that could cause actual results to differ materially. The risks and uncertainties are detailed from time to time in Cyber Digital's SEC reports and filings. Additional information may be obtained by sending email to cybd@cyberdigitalinc.com, or visiting www.cyberdigitalinc.com |
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