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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:
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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,
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Utilization of
unlicensed spectrum
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Patented IP
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