Subject: [NEXTEL-1] SK Telecom to Make Strategic Investment in Flarion Technologies; Field Trial of flash-OFDM Underway in Seoul, Korea

From: Marcel <[email-masked]>
Date: Sat, 09 Nov 2002 03:38:09 -0500

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SK Telecom to Make Strategic Investment in Flarion Technologies; Field Trial of flash-OFDM Underway in Seoul, Korea

November 7, 2002 12:00am

Business Wire

BEDMINSTER, N.J.--(BUSINESS WIRE) via NewsEdge Corporation -- Flarion Technologies, the architect of the flash-OFDM(TM) mobile broadband system for licensed wireless operators, and SK Telecom (NYSE: SKM), Korea's leading wireless telecommunications services provider, today announced that SK Telecom is making a strategic investment in Flarion Technologies. Financial terms of the investment were not disclosed.

"At SK Telecom, we understand the importance of evaluating innovative technologies that have the potential to make a big impact on business productivity and lifestyle," said Jung, Man Won, vice president of SK Telecom's Internet Business Divisional Group. "SK Telecom also recognizes the importance of close strategic relationships and has therefore decided to invest in Flarion Technologies."

With Flarion's flash-OFDM technology, mobile users experience performance, security and bandwidth comparable to that of their Local Area Network (LAN). In the Flarion network, users connect by simply plugging a flash-OFDM PC card into their laptop or Personal Digital Assistant (PDA), without making any modifications to applications, protocols, content or devices.

"We are pleased to welcome SK Telecom as a strategic investor in Flarion," said Ray Dolan, Chairman and CEO of Flarion Technologies. "SK Telecom has a track record of early leadership in technology selection and established success bringing innovative products and services to market. We look forward to collaborating with SK Telecom as we define the requirements to address the mobile broadband market."

SK Telecom is currently conducting a field trial of Flarion's mobile broadband system using Flarion's RadioRouter(TM) base stations, deployed at SK Telecom's existing towers and utilizing SK Telecom's existing backhaul infrastructure. Flarion's PC 1000(TM) Wireless PC Cards are installed in field trial users' laptops and PDAs, providing broadband Internet access, email, and all other IP applications, with full cellular mobility and enterprise-class security and access.

About SK Telecom

Established in 1984 as Korea Mobile Telecommunications Services Co. and renamed in 1997, SK Telecom Co., Ltd. is Korea's leading information and communications company and a rapidly emerging player in the global telecom industry. SK Telecom merged with Shinsegi Telecom in January 2002 and the subscriber base is 16.98 million as of September, 2002. In January 1996, the company launched the world's first commercial CDMA cellular phone service (2nd generation) in Korea. In October 2000, SK Telecom introduced the world's first CDMA 2000 commercial service in Korea and has expanded that service to 81 major cities as of August, 2001. Already this service is able to provide 153.6 Kbps high-speed data service and support various multimedia contents. In June 2001, SK Telecom began the world's first commercial service that offers motion pictures through a wireless handset without the need for peripheral devices, taking its cdma2000-1x network to a new level of usage. In January 2002, SK Telecom opened up a new era of mobile communication by providing the world's first synchronized commercial IMT-2000 (CDMA2000 1X EV-DO) Service in Incheon City on January 28, 2002 and expanded that service to 26 major cities as of May, 2002.

About Flarion Technologies

Flarion Technologies is mobilizing the Internet with its innovative mobile communications network technology, flash-OFDM(TM). Flarion's technology, which originated in Bell Labs, enables licensed mobile operators to profitably offer Internet Protocol (IP)-based broadband services. For mobile operators, Flarion's technology has the lowest cost per broadband subscriber as compared to any mobile system in the world. Flarion's RadioRouter(TM) base station product easily overlays onto an operator's existing network and radio spectrum, and provides a seamless routing interface to the operator's existing IP network. Flarion's flash-OFDM-based devices provide users mobile Internet access with a true broadband experience.

Flarion Technologies is based in Bedminster, New Jersey (USA). The Company has been named as the #1 company on Unstrung's "Top 25" and "Top 10 to Watch" by Red Herring Magazine. Investors include Bessemer Venture Partners, Charles River Ventures, Cisco Systems, Equitek Capital, New Venture Partners II LP, Nassau Capital, and Pequot Capital. More information about Flarion can be accessed at www.flarion.com

Note to editors: Flarion, flash-OFDM, PC 1000 and RadioRouter are trademarks of Flarion Technologies. Other trademarks and registered trademarks referenced herein remain the property of their respective owners.

<<Business Wire, 11-06-02, 08:03 Eastern>>

CONTACT: Flarion Technologies | Ronny A. Haraldsvik, +1 408 202 4278 | [email-masked] | or | Flarion Technologies | Sally Chun, +82 2 551 3117 | [email-masked] | or | Access Communications | Chris Loncto, +1 917 522 3524 | [email-masked] | or | SK Telecom | Kyeong cheol Kim, +82 2 2121 3487 | [email-masked]

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