Axesstel Inc. (fka AXST)

[Clog]

I think this is the deal he was referring to.

Axesstel and PT Smart Telecom Sign Two Year Supply Agreement Valued at $68 Million
Monday October 15, 8:00 am ET
- Axesstel Phone and USB Modem Used to Launch New Wireless Network in Indonesia -


SAN DIEGO & JAKARTA, Indonesia--(BUSINESS WIRE)--Axesstel, Inc. (AMEX:AFT - News), a leader in the design and development of fixed wireless voice and broadband data products, and PT Smart Telecom announced a two year supply agreement valued at $68.0 million. The agreement encompasses joint marketing and volume commitments for Axesstel phones and wireless broadband USB modems. An option to purchase Axesstel enhanced feature phones and 3G gateways is also included in the agreement. Shipments of the phones and USB modems are scheduled to begin this month and continue over the next two years.
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"We will differentiate ourselves by providing an innovative combination of high quality telecommunications services at an affordable price," said Djoko Tata Ibrahim, deputy chief executive officer for PT Smart Telecom. "We chose Axesstel as one of our primary vendors because of the quality and affordability of its devices. The speed of Axesstel's USB modem is far superior to other alternatives and the design and performance of the phone will allow us to offer quick and easy access to quality voice calling and text messaging."

"This supply agreement is a testament to the quality of our products, continued demand for our phones and growing demand for our broadband data devices," said Marv Tseu, chief executive officer for Axesstel. "Securing a long-term agreement with an innovative new operator like PT Smart Telecom is a significant win for us as we continue to build on our existing customer base in Asia and increase our market penetration in one of the fastest growing wireless markets in the world."

PT Smart Telecom will use Axesstel's phone and USB modem to launch its new CDMA2000 1xEV-DO 1900 MHz band network within PT Smart Telecom's licensed area nationwide across Indonesia. The Axesstel phone will provide consumers and small businesses with voice calling services from the home or office. The USB modem will offer mobile professionals, small businesses owners and small office / home office (SOHO) users with broadband access to email and the Internet in order to stay productive while working away from the office.

ABOUT PT SMART TELECOM

Smart Telecom is a new cellular telecommunication provider in Indonesia leveraging CDMA2000 1X and EVDO-Rev A technology using the 1900 MHz frequency. This technology enables users to communicate clearly and send data faster at a more efficient way. Smart Telecom provides great and economical services for retail and corporate customers in more than 50 cities in Java Island and will soon cover all regions in Indonesia.

ABOUT AXESSTEL, INC.

Axesstel (AMEX:AFT - News) is a recognized industry leader in the design and development of fixed wireless voice and broadband data products. Axesstel's best in class product portfolio includes wireless web computers, broadband modems, 3G gateways, fixed wireless desktop phones, and public call office phones for access to online computing, high-speed data and voice calling services. The company delivers innovative fixed wireless solutions to leading telecommunications operators and distributors worldwide. Axesstel is headquartered in San Diego, California with a research and development center in Seoul, South Korea. For more information on Axesstel, visit www.axesstel.com.

© 2007 Axesstel, Inc. All rights reserved. The Axesstel logo is a trademark of Axesstel, Inc.

Forward-Looking Statements

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the statements set forth above include forward-looking statements relating to market penetration and conditions, product capabilities and the timing of new product introductions which may affect future results and the future viability of Axesstel. Axesstel wishes to caution readers that actual results could differ materially from those suggested by the forward-looking statements due to risks and uncertainties and a number of important risk factors. Those factors include but are not limited to unforeseen manufacturing difficulties, unanticipated component shortages, competitive pricing pressures and the risk factors noted in Axesstel's filings with the Securities and Exchange Commission, such as the rapidly changing nature of technology and frequent introductions of new products and enhancements by competitors; the competitive nature of the markets for Axesstel's products; product and customer mix, Axesstel's need to gain market acceptance for its products; the risks of primary dependence on one large customer; potential intellectual property-related litigation; Axesstel's need to attract and retain skilled personnel; and Axesstel's primary reliance on its sole contract manufacturer. All forward-looking statements are qualified in their entirety by this cautionary statement, and Axesstel undertakes no obligation to revise or update this press release to reflect events or circumstances occurring after this press release.



Contact:
Axesstel, Inc.
Kim K. Haneke, 858-875-7291
[e-mail]
or
PT Smart Telecom
Godo Tjahjono, 0881-121-8872
[e-mail]

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Source: Axesstel, Inc.

http://biz.yahoo.com/bw/071015/20071015005340.html?.v=2