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TechnoConcepts' Shanghai Subsidiary Acquires IPTV Set Top Box Technology; Initial Units to Be Sold in China, Taiwan and Japan under Private Label by AlcatelVAN NUYS, Calif. --(Business Wire)-- June 15, 2006 -- TechnoConcepts Inc. (OTCBB:TCPS) today announced that it has completed its acquisition of the set-top box business from Shanghai Jinshilin Technologies Development Company, Ltd. (Jinshilin). Terms of the acquisition were not disclosed, pending approval by the PRC government. Zuoping Zhang, former president of Shanghai Jinshilin Technologies Development Company Ltd., will join the new TechnoConcepts subsidiary as president and will direct its business operations in China. TechnoConcepts' Shanghai subsidiary, China Jinshilin Techno Ltd., recently received conditional approval from the Chinese Government for its formation. This subsidiary will provide marketing, sales and technical support for TechnoConcepts' True Software Radio(TM) technology in China. China Jinshilin Techno will also design, market, distribute and provide technical support for Internet Protocol TV set-top boxes (IPTV-STB), and anticipates shipping more than 100,000 units by the end of this calendar year, generating revenue in excess of $15 million (US). Jinshilin's set top box design was selected by Alcatel after testing prototypes and evaluating numerous alternatives. A technical evaluation by Alcatel of products for this market determined that Jinshilin's IPTV-STB is fully compliant with existing specifications for both the Chinese and European market. Jinshilin's IPTV-STB has also been added to the global procurement system of Alcatel Group for availability in the European IPTV market, where Alcatel Group currently has a 60% share. TechnoConcepts and Jinshilin had been collaborating on this project over the past year. IPTV set-top boxes provide delivery of digital television programming received from the Internet to conventional audio/video inputs to television sets. The IPTV set-top box market is rapidly expanding in China, with industry analysts projecting between 20 million to 50 million units to be sold in 2006, growing to 60 million to 100 million units to be sold by the end of 2007. About China Jinshilin Techno Ltd. China Jinshlin Techno Ltd. ("CJT") is TechnoConcepts' subsidiary based in Shanghai, China, providing marketing, sales and technical support for True Software Radio(TM) technology in China. The company has also acquired IPTV Set Top Box technology through exclusive licensing and acquisition agreements with Jinshilin Technologies Development Company Ltd., a technology company specializing in research, development and applications of video and audio technology and embedding technology ("Jinshilin"). The company acquired all of Jinshilin's intellectual property, including its pending patent applications. CJT will continue to develop new technology and apply for new patents for Internet Television (IPTV), Stream Media Protocol Processing, and Broadcasting Software for IPTV-STB, IPTV-STB providing On-Line Family Real Time Payment Service, as well as others. About TechnoConcepts TechnoConcepts Inc. (OTCBB:TCPS) designs, develops and markets semiconductors. The Company has developed and patented True Software Radio(TM), a demonstrated technology that creates convergence for the wireless industry. True Software Radio(TM) chipsets can enable cell phones, PDAs, laptops, and other mobile devices with different radio frequencies, standards, and protocols to adjust by software command so that they can communicate directly with each other, across otherwise incompatible networks, without the use of multiple RFICs. True Software Radio(TM) chipsets replace the Front End, I/F Processing, ADC, and Digital Filtering sections of digital radios. Because the technology simplifies design and reduces component costs, the Company believes that True Software Radio(TM) is the best platform for Original Equipment Manufacturers (OEMs) and Original Design Manufacturers (ODMs) to develop new wireless broadband, mobile data, cellular, and other next-generation wireless applications. Safe Harbor Statement under the Private Litigation Reform Act of 1996: Forward-looking statements in this release do not constitute guarantees of future performance. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Such statements may relate, among other things, to the company's expected financial and operating results, the expected acceptance of the company's products, the usefulness and benefits of the company's products generally, the acceptance of its technological solutions, and the company's ability to achieve its goals and objectives. The risks and uncertainties that may affect forward-looking statements include, among others: difficulty providing product solutions that meet the needs of customers, difficulty in developing new products, difficulty in relationships with vendors and partners, difficulty in introducing products to the marketplace and gaining acceptance of the same, difficulty gaining necessary governmental approvals, difficulty facing the intense competition present in the wireless communications industry, the company's limited operating history, its inexperience in operating internationally and difficulty managing rapid growth. For a more detailed discussion of the risks and uncertainties of the company's business, please refer to its Annual Report on Form 10K for the fiscal year ended September 30, 2005, filed with the Securities and Exchange Commission, and as subsequently amended. The company assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein. |
