QTK quiktrak networks limited

QTK NEWS

  1. 94 Posts.
    QUIKTRAK NETWORKS LIMITED 2002-04-26 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    The Company is pleased to announce that it has entered into a
    contract with a Korean Telecommunications technology company, Kaicom
    Co Ltd, to install Phase 1 of a countrywide Korean network, which
    will cover all of greater metropolitan Seoul.

    The target markets for the network are large commercial fleets,
    public transport and government fleets, traffic management, and
    stolen vehicle recovery.

    The value of the Phase 1 roll-out is in excess of $4 million plus
    ongoing royalties and the eventual full country roll-out is expected
    to be a further $8 million to $12 million.

    Network design for Phase 1 will commence in Q3 2002 and commissioning
    will be by 30 June 2003. Phase 2, in Pusan, will follow immediately
    thereafter.

    In the UK, Phase 1 of roll-out of a QuikTrak network remains on
    schedule for commissioning in the London greater-M25 area, in July
    2002.

    The primary markets for Phase 1, initially, will be lone worker
    protection and the criminal justice system. Agreements have been
    entered into with all major participants in these fields.

    JB Maguire
    COMPANY SECRETARY


 
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