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Amitelo AG

AMITELO contracts ZTE with the building of a network in Iceland

Zürich (euro adhoc) -

AMITELO AG will carry out the construction and financing of the GSM 
network in
 Iceland with the worldwide operating Chinese ZTE 
Corporation
  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
investments
Zurich 18th December 2007.  AMITELO AG will
construct the GSM-1800-Network in Iceland in corporation with the 
internationally operating ZTE Corporation in Shenzhen, China.
The ZTE Corporation will hand over the network equipment to Amitelo 
according to supply contract and in course of the development of a 
mobile phone infrastructure in 2008. ZTE is also financing the 
largest part of the project in the form of a supplier's credit 
amounting to around 7 m EUR. After start of operations at the 
beginning of third quarter of 2008 in the capital Reykjavik, the 
construction of the network will have been finished by the mid of 
2009.
The project in Iceland is expected to generate a turnover of 
estimated 4 m EUR in 2008. By developing the network construction 
further and finalising the construction work in 2009, turnover should
be raised significantly in 2009 (estimated 10 m. EUR) and 2010 
(estimated around 15 m EUR.) With EBITDA-margin of well over 30%, 
Amitelo manages to open a highly profitable growth sector.
"We are convinced we can develop new and significant potential from 
our entering the mobile phone market as a network operator. The 
diversity of mobile applications such as "Mobile Content" and 
"Ticketing" as well as the possibility to offer products and services
beyond the boarders of Iceland increases our prospects there 
considerably. The development of a GSM-network in Iceland is 
therewith currently the most important and most exciting AMITELO 
project. The collaboration with Global Player ZTE is an 
acknowledgement for our work within the last months, and a logical 
consequence of a powerful new start. Through the ZTE Corporation 
secure financing we gain safety for planning and see this gesture as 
a signal of trust" says Jan Malkus CEO of the AMITELO AG management 
group
"For the ZTE Corporation the collaboration with AMITELO  AG means a 
welcomed opportunity to become active using our Know-How in a highly 
developed European technology market. Our partner AMITELO AG 
persuaded us from the start with professionalism and by having a 
clear vision for the project in Iceland. The joint implementation and
financing are an expression of our persuasion that the construction 
and operation of the GSM-Network in Iceland will be a success. "We 
look forward to further joint projects with AMITELO AG already", says
Dr. Zhigang Zhang, Managing Director of ZTE Deutschland GmbH.
About ZTE Corporation: ZTE is a global leading provider of 
telecommunications technology and network solutions.  The company 
offers array of products worldwide covering practically every market 
segment for fixed line networks, mobile phone networks and mobile 
phone devices. ZTE delivers innovative, customised products in over 
100 countries important for the future of worldwide communications. 
Around ten percent of ZTE yearly turnover is invested in research and
development. In addition, the company plays an important role for 
many international bodies for the development of new 
telecommunication standards. ZTE is the fastest growing provider for 
telecommunications technology in the world and China's only 
telecommunications supplier listed on the stock exchange. The company
shares are traded on the Schenzhen and Hong Kong stock exchange.  ZTE
is the only Chinese ICT-manufacturer, included in the Business Week 
2005 "Information Technology 100" list.
About AMITELO AG: The  AMITELO  AG  (www.amitelo.ag)  is  an  
internationally  active,  innovative technology  company  based  in  
Zurich  that   is   involved   in   fast-growing telecommunications 
areas including mobile phone services. To this  end,  AMITELO AG 
follows an  assertive growth strategy, in which  organic  and  
inorganic developments are closely linked to one another and  
contribute  collectively to the achievement of the company's own 
goals regarding revenue and output.
Contact:
AMITELO AG
Investor Relations 
ir@amitelo.ag[pic]
end of announcement                               euro adhoc

Contact:

AMITELO AG
Investor Relations
ir@amitelo.ag

Branche: Telecommunications Equipment
ISIN: CH0003307706
WKN: A0F5YA
Börsen: Börse Frankfurt / free trade/entry standard

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