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Comtech Receives $1 Million Award for a MIDAS Satellite Bandwidth on Demand System

September 5, 2001 at 12:00 AM EDT
Comtech Receives $1 Million Award for a MIDAS Satellite Bandwidth on Demand System
  • Initial Installation for Everbright Bank of China
  • Third Banking Organization In China Selecting MIDAS System
Melville, New York, September 5, 2001 - Comtech Telecommunications Corp. (Nasdaq: CMTL) announced today that it has received an order to provide its MIDAS satellite bandwidth on demand system to one of China's largest banking organizations, the Everbright Bank. Everbright will be the third Chinese bank to use the MIDAS system, developed and produced by Comtech EF Data, an Arizona-based subsidiary of Comtech Telecommunications.

The order was received through Datacom Enterprises, Comtech's distributor for China. The first phase of the project will involve initial installation of the system and is expected to generate revenue in excess of $1 million.

Fred Kornberg, President and CEO of Comtech said there is potential for the Everbright Bank project to have additional phases and to generate significant additional revenues.

"The special strength of the MIDAS system is that it can be installed to perform one primary function, such as teleconferencing, while also serving as a backup for other functions whenever needed," Mr. Kornberg said. "It enables the user to allocate satellite data bandwidth on the fly, as operational sites require it. Thus it adds both to the range and the reliability of a customer's telecommunications system."

The Everbright Bank's MIDAS system will provide automatic emergency backup via satellite for a terrestrial data and voice network plus on-demand video conferencing services for selected bank branches. The Comtech EF Data system was chosen after extensive evaluation of its technical features and price and performance advantages.

The Everbright Bank was founded in China in 1992 to provide emerging enterprises with funding. It has since expanded to become a full-service national and international bank. Its new system will bring the total number of nodes under MIDAS control to over 400 with planned expansion to an additional 600 nodes. Other MIDAS users in China include the Agricultural Bank Of China (ABOC) and Industrial and Commercial Bank of China (ICBC). Mr. Kornberg said Comtech is exploring possible sales of the system to other banks around the world.

Comtech EF Data Corp. (www.comtechefdata.com) designs, manufacturers and markets a broad spectrum of Frequency Up and Down Converters, Solid State Power Amplifiers, Satellite Modems and C- and Ku-Band Transceivers, Internet Enabled Modems, MultiCast and UniCast Networks and the MIDAS Bandwidth on Demand System. All products meet or exceed the standards published by Intelsat, Eutelsat, Insat, AsiaSat and other worldwide and regional satellite networks.

Comtech Telecommunications Corp.is an innovative player in the domestic and global high-technology markets. Through its operating units, Comtech pursues opportunities in three interrelated market segments: telecommunications transmission, RF microwave amplifiers, and mobile data communications services. In each of these segments, growth is driven by increasing demand for telecommunications infrastructure and network and messaging services. The company's specialties include the design and manufacture of advanced products and networks used for transmission of voice, data and video using satellite, over-the-horizon microwave, terrestrial line of sight and other wireless communications systems. More than 275 distinct Comtech products are in service in more than 100 countries.