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xG Technology,Inc.:Strong Demand Leads to Increased Fee
Structure for 2008 Territory Reservations & Confirms Full
Backlog for 2007
Sarasota,
Florida USA; December 6, 2006—xG Technology, Inc. (AIM:XGT)
announced today that it has increased the upfront fee required
to secure exclusive xMax service territories for mobile VoIP
(Voice over Internet Protocol) deployments beginning in 2008.
This decision was made so that xG can best accommodate the
substantial demand it has experienced thus far. Those
deployments already contracted for in 2007 remain unaffected.
“The success of
our xMax mobile VoIP deployment program highlights the demand
in the marketplace to deploy and deliver our cost-effective
mobile IP services. This change in our program allows us to
prioritize potential customers in an orderly manner while also
creating additional revenue for the Company,” explained Frank
Peake, director of sales and marketing. “xG has already
entered into contracts in 130 communities covering
approximately 57 million people for 2007, affording us an
opportunity to accomplish a fast and cost efficient wireless
rollout.”
The xMax network
deployments will create the first mobile VoIP systems that can
be used throughout a large geographic area, at any Wi-Fi
hotspot, or through an Ethernet connection to any computer
connected to the Internet.
xG also reports
that it is on schedule to begin field trials of the xMax
systems in the first quarter of 2007. One network will be
operated by xG in Ft. Lauderdale, Florida and a second system
will be launched in Daytona Beach, Florida by Far Reach
Communications. Russ White, president of Far Reach
Communications commented, “We are thrilled to be working with
xG on the field testing of xMax. We are confident in the
network’s capabilities and are extremely pleased that xG
continues to meet our timelines.”
Finally, the
Company is aware that due to temporary technical reasons,
statistical records of actual traded volumes are failing to be
recorded on certain investment sites. The Company's broker is
working closely with the market maker and electronic trading
platform to resolve this issue as swiftly as possible.
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xG is a
registered trade mark of xG Technology, Inc. under US Trade
Mark Registration Number 3039835. xMax is a trademark of xG
Technology, Inc.
For details and
additional information on xG Technology, Inc. and the xMax
system, please visit
www.xgtechnology.com.
CONTACTS:
Seb Hoyle or
Lucie Holloway, Citigate Dewe Rogerson
+44-(0)20 7638
9571
Notes to
editors:
Based in
Florida, USA, xG Technology, Inc. has developed innovative
technologies that the Directors believe have the potential to
change the building blocks, capabilities and economics of the
communications industry. Its patented technologies can be
applied to almost any type of communication including voice,
data or video in wired or wireless form. The key attractions
of the technology include:
-
Ability to
transmit substantially more information than other
technologies operating at similar power
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Low costs of
deployment, resulting in significantly reduced network
capital expenditures,
-
Utilization of
unlicensed spectrum
-
Patented IP
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