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Celtron International Subsidiary Concludes 21 Million Rand -- US$3 Million -- Supply Agreement.

Business Editors

MIDRAND, South Africa--(BUSINESS WIRE)--March 17, 2004

Celtron International Inc. (OTCBB:CLTR), a company in the business of developing and marketing products in Mobile Commerce, Vehicle-locating and Management, Asset Tracking and Telemetry Solutions, announced today that its South African subsidiary, Orbtech Holdings Limited, has concluded a 21 million Rand (US$3 million) contract to supply 5000 POS devices over the next 10 months to Beget Holdings Limited, a primary reseller of these devices.

This follows Orbtech's acquisition of the company CJ Systems (Pty) Ltd. in December 2003. CJ Systems secured the African distribution agreement for the JadeAIRE(TM) mobile payment terminal.

The JadeAIRE is the most compact and stylish mobile payment terminal. It is a revolutionary solution for consumers' portable or mobile payment needs, bringing together advanced wireless technologies and CyberNet's experience in making quality, versatile and integrated payment terminals. And it is designed to fit into the palm of your hand.

This compact all-in-one mobile terminal delivers the combination of the latest payment capabilities and the most sophisticated wireless technologies (GSM/GPRS, CDMA and other) to process payment anywhere, anytime, by the merchants on the move.

This provides numerous conveniences for Home delivery services, Kiosks & sports stadium sales, Taxi cabs & limousine services, Conferences, Events, Markets and Restaurants.

The JadeAIRE(TM) family of wireless terminals is based on a Java(TM)-style open operating platform, CyberSoft, thus providing program/application portability on any device built on CyberSoft.

The acquisition of CJ systems was done to add value to the existing technologies in the group and applied through MineWorx and CreditPipe, the mobile solutions, e-payment and m-commerce divisions of Orbtech.

The growth potential of this division is secured by the fact that banks in South Africa are gearing up to meet the global data security standard aimed at stopping hackers in their tracks, known as triple data encryption standard (Triple Des). The cut-off date for banks using MasterCard is April 2005, by which time an estimated 150,000 terminals out in the market have to be replaced. Currently, Orbtech is the only terminal supplier in South Africa whose terminals comply with these standards. Similar opportunities exist in the rest of Africa.

Revenue on the JadeAIRE(TM) terminal is generated through hardware profit as well as processing and switching revenue where the CreditPipe applications are applied.

About Celtron International, Inc.

Celtron is in the business of developing and marketing products in Mobile Commerce, Vehicle-locating and Management, Asset Tracking and Telemetry Solutions. Utilizing Cellular & Internet Protocols, WIG, WAP and IVR for Mobile Commerce and Integrated Cellular Data & GPRS with Global Positioning Satellite technology for Vehicle Location and Management, Celtron offers a wide range of Mobile and Mobile Commerce Solutions. Celtron has three subsidiaries: Orbtech Holdings, Ltd., (South Africa), a sub-Sahara holding company, of which the Company owns approximately 70%; Celtron Tracking Systems, Ltd., a United Kingdom company, of which Celtron owns approximately 51% and Credit Pipe Holdings Ltd., a United Kingdom company, of which Celtron owns 100%.

Orbtech has four operating subsidiaries: Orbtech Tracking Systems, Ltd. (Orbtrac), a marketer, seller and distributor of the group's vehicle management, tracking and recovery products; CreditPipe (Pty) Ltd., a mobile E-commerce platform and M-commerce enabler; MineWorx International (Pty) Ltd., a Specialist Mobile Software and System Solutions provider; KnowledgeWorx, an E-learning and skills management company, all of which are 100% owned by Orbtech; and Odyssey Solutions (Pty) Ltd., a 40% subsidiary.

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.
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Publication:Business Wire
Date:Mar 17, 2004
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