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29
December 2008
DIRECTOR INCREASES EQUITY POSITION
xG Technology, Inc. ("xG" or the "Company") was notified on
23 December 2008 that Mats Wennberg, a Non-Executive Director
of the Company, purchased in the market 50,000 Common Shares
in the Company on 23 December 2008 at a price of 1.51 US
Dollars per share. Following this transaction, Mats Wennberg's
total beneficial holding in xG, privately and through his
wholly owned company, is 2,595,000 Common Shares, representing
approximately 1.97% of the total issued share capital of the
Company.
Contacts
xG Technology, Inc.
www.xgtechnology.com
Richard Mooers, Chairman and Chief
Executive Officer
+44 20-7367-8888
Roger Branton, Chief Operating Officer and
Chief Financial Officer
+44 20-7367-8888
Jonas Krepp, Director of Investor Relations
+44 78-2744-4634
Bankside Consultants
+44 20-7367-8888
Steve Liebmann or Simon Bloomfield
Religare, Hichens Harrison PLC
+44 20-7588-5171
Daniel Briggs
Daniel Stewart & Company PLC
+44 20-7776-6550
Simon Starr
ING Bank N.V., London Branch (Nominated
Adviser)
+44 20-7767-1000
Xavier Moreels
About xG Technology
Based in Florida, USA, xG Technology, Inc. has developed
innovative, patented wireless communications technologies
which offer the potential to significantly reduce the required
capital investment and operating costs of wireless voice and
data communications services. Its mobile VoIP (Voice over
Internet Protocol) base station and handset product line -
branded as xMax - is intended for use by regional carriers
(internet service providers, competitive local exchange
carriers and entrepreneurial parties) which seek to deliver
mobile Internet Protocol voice and data services directly to
consumers without using the incumbent circuit switched or
coaxial cable networks. The xMax system provides an extended
range of operation and is expected to provide superior handset
battery performance and double the call capacity of mobile Wi-Max
networks. Planned future releases of the xMax product line
include integrated video and data applications.
This information is provided by RNS
The company news service from the London
Stock Exchange
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