Cyber Digital, Inc. Receives Contract Award for $11.6 Million.Business & Technology Editors NEW YORK--(BUSINESS WIRE)--Nov. 27, 2001 Cyber Digital to Sell 7,500 Lines of its Wireless Telephone Exchanges to 2 Systems Technologies, Ltd. of Nigeria 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, announced today that it received a contract award for $11.6 million from 2 Systems Technologies, Ltd. of Nigeria to supply 7,500 lines of Cyber Digital's wireless telephone exchanges. 2 Systems Technologies, Ltd. is a private telephone operator and will be using Cyber Digital's wireless exchanges in the state of Kano. Under the terms of the contract award, Cyber Digital is obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to deliver its wireless local and regional exchanges within the next twelve months. This further strengthens Cyber Digital's position to become the dominant supplier of digital wireless exchanges in this captive market to both private telephone operators and newly formed state run telephone companies. Payment terms for this sale are $1.6 million from 2 Systems Technologies and $10 million from the U.S. EXIM Bank Exim bank See: Export-Import Bank paid upon shipment through an irrevocable confirmed letter of credit Confirmed Letter of Credit A letter of credit which a bank other than the bank that opened it agrees to honor as though they had themselves issued it. This additional confirmation is in addition to the obligation of the bank which issued the letter of credit. . About Cyber Digital, Inc. Cyber Digital, Inc., is a leading manufacturer and software developer of advanced digital voice switching systems for network operators worldwide. Cyber Digital is also a leading developer and provider of an array of ultra-high performance Internet 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, 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. Cyber Digital, Inc. is profiled in The Stock Advisor Newsletter and featured on The Stock Advisor website. Additional information may be obtained by sending email to cybd@cyberdigitalinc.com, or visiting www.cyberdigitalinc.com or www.thestockadvisor.com. |
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