[NEWS] nTels Announces IPO

SEOUL – nTels, a leading provider of OSS (Operations Support System) and professional services to telecommunications service operators, announced today that the company will put approximately 25% of the ownership for sale, via an initial public offering this month. nTels believes the IPO will provide the company’s stakeholders with more opportunities in terms of performance and growth.

nTels’ decision to go public signals a new phase of the company’s growth strategy. nTels CEO Jae Hee Shim says, “We’ve had seven years of remarkable achievement, growth, and success. Now the IPO will be another significant milestone for the company, its shareholders, employees, and customers.”

Since the company was founded in 2000, nTels has provided OSS and professional services to major telecom operators around the world. Shim emphasized that “Our convergent OSS platforms have been the revenue engine behind the world’s most advanced mobile operators.” The history of nTels is marked by many “world’s first-to-market” implementations with next-generation networks, such as WCDMA, IMS, mobile WiMAX, and HSDPA. “Our competitive edge comes from the exposure to the industry’s technology forefront – this differentiates nTels from ordinary billing vendors,” says Shim.

nTels expects the IPO, which is expected to occur on June 20th of this year, will bring more possibilities to the already thriving company and the industry to which it belongs. Shim continues, “We expect the proceedings from the public trading will provide us with more resources and opportunities, strengthening the ability to achieve the company’s full growth potential. At the same time, the IPO will benefit the existing and prospective investors alike, returning more values for their investment.” Also, nTels believes that as a public company it will be able to offer the investors and customers improved visibility into the company’s management, while providing the employees with greater values through equity award options.

About nTels: nTels provides OSS (Operations Support System) and professional services to telecommunications service providers. Featuring functionalities that increase business value and create revenue streams, nTels’ solutions have been the proven business enabler for operators around the world. The company’s strengths lie in its expertise of the next-generation, content-centric services market – coming from the continuous forefront exposure to the world’s most advanced network implementations. nTels serves the global market through regional offices and local partners throughout the world, and is expanding its business boundary to the converging markets of multimedia and broadcasting services. For more information about nTels and its solutions, please visit www.ntels.com.

Disclaimer: A registration statement relating to the common shares to be sold in the nTels IPO is expected to be filed with Korea Financial Supervisory Commission but has not filed or become effective yet. The common shares may not be sold and offers may not be accepted prior to the time the registration statement become effective. This release does not constitute and offer to sell or the solicitation of any offer to buy. The content of this release is “forward-looking statements” regarding nTels’ intention to conduct an IPO. Actual results could differ materially from those projected in the statements as a result of certain risk factors, including but not limited to: adverse changes in general economic or market conditions, the inability to manage successfully and complete the IPO, and other one-time events and other important factors disclosed previously by nTels. nTels assumes no liabilities and obligations to update any such forward-looking statements after the date of this release.