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Mobileway Inc. Receives Investment from the Intel Communications Fund

Posted on: Wednesday, 22 October 2003, 06:00 CDT

SAN FRANCISCO--(BUSINESS WIRE)--Oct. 22, 2003--Mobileway, a global provider of mobile services, today announced that it has received an investment from the Intel Communications Fund. Financial details were not disclosed. The investment will support Mobileway's development of an optimized version of its wireless services and solutions for mobile devices based on Intel(R) Personal Internet Client Architecture (Intel(R) PCA).

Mobileway has experienced dramatic growth over the past three years both in terms of its customer portfolio, which now includes more than 400 local and global brands of the world's leading media, entertainment and marketing companies, as well as through the expansion of its product portfolio. Through the development of advanced application platforms, Mobileway offers companies industry-leading solutions that help them build fun, attractive campaigns and a first class service for delivering and monetizing their content across the globe. The company markets its solutions through a network of offices across the US, Europe and Asia Pacific.

"We are extremely pleased to receive this investment from Intel Capital," said Russ Shaw, CEO of Mobileway. "The investment capital will help fund an expansion in our marketing and R&D efforts, including our work to take advantage of the Intel PCA . The funding opens up a new market for devices based on Intel PCA and will benefit developers by ensuring that any wireless application can easily be deployed and monetized, creating new revenue streams."

The $500 million Intel Communications Fund invests in companies supporting Intel's key programs and initiatives in voice and data communications, as well as wireless communications and computing efforts. The fund, which makes minority equity investments of typically less than $10 million, is focused on companies developing solutions based on CT Media(TM), Intel(R) Internet Exchange Architecture, Intel(R) XScale(TM) Microarchitecture and Intel(R) Personal Internet Client Architecture. The fund, created in 1999, is managed and controlled by Intel.

About Mobileway

Mobileway is a global provider of mobile services. Founded by data communications and telecommunications professionals, Mobileway's mission is to usher in a new era in business capabilities designed to satisfy the needs of a wide variety of users. Mobileway offers a range of value-added solutions, hosted tools and a global carrier grade network for business-to-business-to-consumer data connectivity.

For more information about Mobileway's data distribution, mobile applications and settlement services & solutions, visit its World Wide Web site at http://www.mobileway.com.

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