Cyber Digital, Inc. Updates Supply of $80 Million of Its Systems to the Nigerian Customers to Begin Shortly.Business Editors/High-Tech Writers HAUPPAUGE, N.Y.--(BUSINESS WIRE)--March 17, 2003 NITEL granted a license to provide 600,000 lines in three years assures greater demand for Cyber Digital's systems 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, today announced that it expects to supply $80 million of its systems to the Nigerian customers to begin shortly. To-date Cyber Digital's expects to supply Nigerian Telecommunication Limited (NITEL), three state governments and 2 Systems Technologies approximately $26 million, $42 million and $12 million, respectively, of its wireless and landline digital voice systems. NITEL, a federally owned entity, has been the sole telecommunications provider. NITEL has been undergoing a deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. and privatization privatization: see nationalization. privatization Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned process in the past two years limiting its ability to expand its network. NITEL's newly appointed Board and Chief Executive have recently resolved contentious issues such as becoming a licensed operator and interconnection with new operators. Hence, NITEL has just recently been granted a license to provide additional 600,000 landline lines in three years by the Nigerian Communications Commission The Nigerian Communications Commission (NCC) is the independent regulatory body for the Nigerian telecommunications industry. The NCC created under Decree number 75 by the Federal Military Government of Nigeria on 24th of November 1992. (NCC NCC See National Clearing Corporation (NCC). ) allowing it to expand its network - a market potential of about $1.5 billion. On this basis, Cyber Digital believes that it should shortly begin to supply NITEL, and the state government operators to follow in the second half of 2003 and first half of 2004. "Moving forward, we expect enormous demand for our systems from NITEL. We hope that NITEL would be our premier customer for many years while we also support certain state government operators. We feel solid about our earnings potential as we have learned to understand NITEL and established strong relationships in this market. Since, the supply of systems will be backed by cash-in-advance and letters of credit, we will not require any additional capital," said J.C. Chatpar, Chairman. About Cyber Digital, Inc. Cyber Digital, Inc., is a leading manufacturer and software developer of advanced digital voice switches and 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) systems for network operators worldwide. Website is www.cyberdigitalinc.com 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 as fully described in Cyber's SEC filings. |
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