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Charleoi

01/24/06 7:15 PM

#3264 RE: mr_tech_russ #3255

Spin off Xiptel? What evidence do you have on Xiptel? Where are the customer announcements? Operating milestones? capital equipement? R&D?

Why won't Phil disclose Xiptel financials?

Telephonics

01/24/06 8:01 PM

#3267 RE: mr_tech_russ #3255

NMKT at present has no connection to NNMKT China. That operation is separate and was funded by a private placement. It is planned at some future date for NMKT to buy it or to spin it off to NMKT shareholders. But this effectively destroys your plan.