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Issue #2003 - 28 (November 2003)
(Updated Nov. 4, 2003)


Recent Investments

1. Bell South Gives Up on AT&T Wireless

Talks between BellSouth Corp. and AT&T Corp. to merge collapsed Tuesday, signaling the end to another round of discussions held since 2001 among the phone giants to possibly combine, The Wall Street Journal reported today. 

Atlanta-based BellSouth had been in discussions to buy AT&T, but keep the AT&T name, but BellSouth resisted over the price as the merger talks deepened, the Journal reported, citing people familiar with the matter. 

Revenue at AT&T, the No. 1 long-distance phone company, has declined for 15 consecutive quarters in the face of technology substitution and cutthroat competition in its consumer services unit among other pressures. 

Any merger between AT&T and BellSouth would face stiff scrutiny from regulators.

2. Flash NetworksAcquires Adjungo Networks - Acquisition Expands Product Offering for Wireless WAN and WLAN Markets
Herzlia, Israel - October 22, 2003 - Flash Networks, a global leader of mobile data delivery solutions, announced today the acquisition of Adjungo Networks, a supplier of systems enabling cellular operators to leverage existing back-office systems in order to manage and bill Wi-Fi customers using public hot-spots. Acquisition financials were not disclosed.

Acquiring Adjungo's assets make possible for Flash Networks to enable mobile operators to offer Wireless LAN access and unified billing to their mobile subscribers. With a combined solution that includes advanced session management capabilities, subscribers will be able to seamlessly roam between cellular and Wi-Fi networks, as well as receive Wi-Fi services through third parties. End-users will benefit from ultra high-speed mobile access to the Internet, simple, transparent and reliable services from a single service provider and unified billing.

Flash Networks is a leader in delivering solutions turning wireless data networks into wire-like, consistent, and reliable services. The company's flagship product line, NettGain™, is a scalable, carrier grade solution offering a superior user experience for mobile data users. It addresses key issues of mobile data delivery like optimization and acceleration of data, session management, multi bearer integration and more. Customers include T-Mobile International, AT&T Wireless and operators from the Vodafone Group, to name a few.

Adjungo has been a leading supplier of secure, carrier class, Wireless LAN solutions for cellular operators. Adjungo's solution enables cellular users to enjoy secure broadband access via Public WLAN hot spots. The solution is hot spot agnostic, supports any type of WLAN access technology and is compatible with all cellular technologies. It allows cellular operators to leverage existing network infrastructure to simplify billing, authentication, roaming, provisioning and monitoring of WLAN users.

About Flash Networks 
Flash Networks is the leading provider of Mobile Data Delivery Platforms to mobile carriers and enterprises, enabling them to turn mobile data networks into usable and friendly services. With close to 30 top-tier carrier customers, Flash Networks' NettGain™ product line has the largest global install base of any such platform available. NettGain enables optimal user experience when using corporate and Internet applications over bandwidth constrained and terrain challenged mobile data networks. Established in 1996, the company is headquartered near Tel Aviv, Israel with offices in The Netherlands, United States, Germany, Hong Kong and Italy. 

For More Information; go to http://www.flashnetworks.com 

MobileInfo Comments and Advisory: This is good merger. There is synergy and the industry needs more unified solutions. 

Note: This news release may contain forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of Securities Exchange act of 1934 in USA. Similar provisions exist in other countries. There is no assurance that the stipulated plans of vendors will be implemented. MobileInfo does not warrant the authenticity of the information. Readers should take appropriate caution in developing plans utilizing these products, services and technology architectures.  All trademarks used in this summary are the property of their respective owners.

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