World Surveillance Group Inc (fka WSGI)

[lowtrade]

tcr7309 G cash & GTEL
GTEL Announces Strategic Alliance with Philippine Telecom Giant Globe Telecom
Memorandum of Agreement Signed to Develop and Launch G-Cash, A Money Transfer System for over 10 Million Globe Mobile Phone Subscribers in the Philippines
October 18, 2004
PEMBROKE PINES, Fla.--(BUSINESS WIRE)--Oct. 18, 2004-- GlobeTel Communications Corp. today announced that a Memorandum of Agreement (MOA) with Philippine mobile giant Globe Telecom (Globe) has been signed to jointly develop an integrated payment system which will combine GTEL's stored value card payment processing capabilities with Globe's SMS applications technology.

The purpose of this program is to allow GTEL stored value cardholders to send money directly to family and friends through their Globe Mobile Phone. With this new technology, the SMS/text recipient is then able to withdraw funds from major Filipino retail outlet chains.

Globe Telecom is the second largest cellular phone operator in the Philippines with over 10 million subscribers. Globe, and its experienced leadership team has consistently won awards in Asia for their development and deployment of cutting edge technology for value added SMS applications. In 2004, Globe was awarded Best-Managed Asian Telecom and Most Innovative SMS Application respectively by Asia's leading financial and industry publications.

Anton Romulo, GTEL Managing Director for South East Asia, said "We are very exceptionally honored to be allied with Globe Telecom in launching G-Cash. The Philippines has long been widely considered the SMS capital of the world with an astounding average daily volume in excess of 50,000,000 text messages sent and received. "Texting" has become an integral part of Filipino daily life, and we are sure that G-Cash will soon become included as a part of mainstream popular culture. With GTEL in the USA and Globe Telecom in the Philippines, the G-Cash platform allows both companies to quickly increase our penetration into the Filipino-American market, both in the Continental US as well as the Philippine islands."

Joey Mendoza, Head of Business Development for Globe Telecom stated "We are extremely pleased to be partnering with GTEL in the development and launch of an integrated payment solution for our subscribers. We plan to launch a powerful solution that combines GTEL's distribution channels and advanced stored value card technology platform with our award winning SMS applications."

Leigh Coleman, President of GTEL stated that "This agreement with a company of the size and caliber of Globe Telecom will begin to change the way Filipinos remit funds internationally. It will significantly lower the overall cost of remittances. Equally important, it will make the process far easier and convenient."

Coleman further added, "This innovative and new service offering will serve as another advantage to Filipino people in a way to remit funds. This is just one more example of the social benefits that GTEL product and service offerings support. This social value is consistent with one of the many purposes that stored value was created. We are very passionate about the social values as well as the monetary value. We are proud to be associated with this program and look forward to increasing our presence in the Filipino and Asian markets for Stored Value Cards and Remittances."