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06 February 2008
xG Technology, Inc.
Exercise of Options
xG Technology, Inc. ("xG"
or the "Company"), the Florida based communications technology
business, today announces that it has received notice of
exercise of options of 100,000 shares in the Common Stock of
xG at an exercise price of US$0.27 per share, totalling
US$27,000 in proceeds from the exercise.
The Company also
announces that it has received notices of exercise of options
of 135,000, 3,294, and 64,931 shares in the Common Stock of xG
at exercise prices of US$0.27 per share, US$3.50 per share,
and US$2.00 per share, respectively. Shares in the amount of
25,407 were used to purchase the shares.
An application has been
made for the 277,818 new Common Shares to be admitted to
trading on AIM, which is expected to be effective on 12
February 2008
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.
- Ends -
Enquiries:
Rick Mooers, Chairman and CEO
Roger Branton, COO and CFO
020 7638 9571
Nigel Daly/James Steel
Piper Jaffray Ltd.
020 3142 8700
Seb Hoyle
Lucie Holloway
Citigate Dewe Rogerson
020 7638 9571
ABOUT
XG TECHNOLOGY (AIM:XGT)
XG TECHNOLOGY'S BUSINESS
Based in Florida, USA, xG Technology has developed innovative
technologies that the directors believe can 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.
As its first vertical
application, xG Technology has designed a complete mobile VoIP
(Voice over Internet Protocol) network and services relying on
xG Technology specialized base station and handset product
lines. Branded as xMax, these products and services are for
use by regional carriers (internet service providers,
competitive local exchange carriers and entrepreneurial
parties) seeking to deliver wireless mobile or fixed Internet
Protocol services directly to consumers over licensed or
unlicensed spectrum without using the incumbent circuit
switched or coaxial cable networks. Future releases of the
xMax product lines will expand from mobile VoIP to offer
integrated video and data applications.
MARKET AND
COMPETITION
There is a wide variety of wireless technologies in the
marketplace. The Directors believe that the key issue keeping
these technologies from achieving greater success is the price
versus performance of existing options. xMax changes this
price/performance relationship by enabling the delivery of
mobile IP services with less infrastructure using low-cost and
readily available unlicensed radio spectrum.
xG Technology believes
that xMax is a viable solution for mobile VoIP for a number
of reasons:
- xMax is an IP solution rather than a
circuit switched solution; this is a prerequisite for handling
the VoIP application;
- xMax delivers high speed data in the order of Mbps rather
than Kbps, which is essential for supporting large numbers of
subscribers;
- xMax has a low latency physical layer, resulting in high
network efficiency;
- xMax's signal profile also allows for improved
range/coverage and better signal penetration, which is
essential for maintaining call session reliability; and
- although this feature is not central to the VoIP application
itself, xG Flash Signal's ability to deliver wireless signals
with far less RF output power than conventional applications
means that wireless VoIP handsets will show improved battery
life over other solutions. .
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