AMITELO contracts ZTE with the building of a network in Iceland

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Zürich (euro adhoc) - Zurich 18th December 2007. AMITELO AG will construct the
GSM-1800-Network in
Iceland in corporation with the internationally operating ZTE Corporation in
Shenzhen, China.

The ZTE Corporation will hand over the network equipment to Amitelo according
to supply contract and in course of the development of a mobile phone
infrastructure in 2008. ZTE is also financing the largest part of the project
in the form of a supplier's credit amounting to around 7 m EUR. After start of
operations at the beginning of third quarter of 2008 in the capital Reykjavik,
the construction of the network will have been finished by the mid of 2009.

The project in Iceland is expected to generate a turnover of estimated 4 m EUR
in 2008. By developing the network construction further and finalising the
construction work in 2009, turnover should be raised significantly in 2009
(estimated 10 m. EUR) and 2010 (estimated around 15 m EUR.) With EBITDA-margin
of well over 30%, Amitelo manages to open a highly profitable growth sector.

"We are convinced we can develop new and significant potential from our
entering the mobile phone market as a network operator. The diversity of mobile
applications such as "Mobile Content" and "Ticketing" as well as the
possibility to offer products and services beyond the boarders of Iceland
increases our prospects there considerably. The development of a GSM-network in
Iceland is therewith currently the most important and most exciting AMITELO
project. The collaboration with Global Player ZTE is an acknowledgement for our
work within the last months, and a logical consequence of a powerful new start.
Through the ZTE Corporation secure financing we gain safety for planning and
see this gesture as a signal of trust" says Jan Malkus CEO of the AMITELO AG
management group

"For the ZTE Corporation the collaboration with AMITELO AG means a welcomed
opportunity to become active using our Know-How in a highly developed European
technology market. Our partner AMITELO AG persuaded us from the start with
professionalism and by having a clear vision for the project in Iceland. The
joint implementation and financing are an expression of our persuasion that the
construction and operation of the GSM-Network in Iceland will be a success. "We
look forward to further joint projects with AMITELO AG already", says Dr.
Zhigang Zhang, Managing Director of ZTE Deutschland GmbH.

About ZTE Corporation:
ZTE is a global leading provider of telecommunications technology and network
solutions. The company offers array of products worldwide covering practically
every market segment for fixed line networks, mobile phone networks and mobile
phone devices. ZTE delivers innovative, customised products in over 100
countries important for the future of worldwide communications. Around ten
percent of ZTE yearly turnover is invested in research and development. In
addition, the company plays an important role for many international bodies for
the development of new telecommunication standards. ZTE is the fastest growing
provider for telecommunications technology in the world and China's only
telecommunications supplier listed on the stock exchange. The company shares
are traded on the Schenzhen and Hong Kong stock exchange. ZTE is the only
Chinese ICT-manufacturer, included in the Business Week 2005 "Information
Technology 100" list.

About AMITELO AG:
The AMITELO AG (www.amitelo.ag) is an internationally active, innovative
technology company based in Zurich that is involved in fast-growing
telecommunications areas including mobile phone services. To this end, AMITELO
AG follows an assertive growth strategy, in which organic and inorganic
developments are closely linked to one another and contribute collectively to
the achievement of the company's own goals regarding revenue and output.

Contact:

AMITELO AG
Investor Relations
[email protected][pic]

Further inquiry note:
Contact:

AMITELO AG
Investor Relations
[email protected]

end of announcement euro adhoc
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emitter: Amitelo AG
Löwenstrasse 40
CH-8001 Zürich
WWW: www.amitelo.ag
sector: Telecommunications Equipment
ISIN: CH0003307706
indexes:
stockmarkets: free trade/entry standard: Börse Frankfurt
language: English

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