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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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