Telecard, Pakistan's only CDMA operator, to purchase $6.75M in Axesstel's fixed wireless desktop phone terminals

December 2, 2003

1 Min Read

SAN DIEGO -- Axesstel, Inc. (OTCBB: AXES), a leader in developing, manufacturing and marketing high-quality, CDMA-based fixed wireless local loop (WLL), hybrid terminals and engineering services to operators worldwide, today announced a multi-million dollar agreement with TeleCard, Pakistan’s only CDMA operator, to purchase Axesstel’s advanced fixed wireless desktop phone terminals. A repeat customer, TeleCard has agreed to a supply agreement with Axesstel for $6.75 million, strengthening a continuing effort to increase phone service penetration in Pakistan. Officials estimate the entire purchase of phones to be completed within the next 12 months. Other terms of the agreement were not disclosed.

“Although Pakistan has the sixth largest population in the world, it has only a three percent phone service penetration,” stated Javaid Firoz , CEO of TeleCard. “There is an enormous opportunity to bring basic telephony to the country by offering the quality handsets with innovative technology that are consistently provided by Axesstel.”

“Continuing our relationship with TeleCard demonstrates a pattern of customer satisfaction and commitment to our products,” said Mike Kwon, Chairman of Axesstel. “In securing a large multi-year multi-product contract, the TeleCard agreement also solidifies Axesstel’s dominant position within Pakistan’s telecommunications sector, which is expected to become a very high-growth region in the market.”

TeleCard is a leading prepaid phone service provider using a very innovative distribution network of public call offices (PCOs) outfitted with Axesstel phones throughout Pakistan. As part of the agreement, Axesstel’s advanced desktop phones include customized software that provides a unique PCO metering application to track calls for billing purposes. The PCO application is enabling TeleCard to distribute its solution across Pakistan in a rapid and cost-effective manner.

Axesstel Inc.

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