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OPTION AWARDED A € 0.4
MILLION R&D GRANT FOR RESEARCH IN WIRELESS LAN
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FOR RELEASE: IMMEDIATE
Leuven, Belgium, July 24, 2003 -- OPTION N.V. (Nasdaq
Europe: OPIN), the leading innovator in the wireless communications
market, today announced that it has been awarded a grant
of € 0.4 million from IWT (Instituut voor de Aanmoediging
van Innovatie door Wetenschap en Technologie in Vlaanderen),
a regional public institute for stimulating innovation
by science and technology in Flanders.
IWT awarded OPTION the grant for advanced R&D activities
in connection with the development of enabling seamless
integration between GPRS, UMTS and Wireless LAN networks.
IWT evaluates innovative projects on both their technical
merits and their commercial opportunities. The amounts
of € 0.2 million grant and of € 0.2 million
subordinated loan are the first public R&D grants
that OPTION has received in its history and are expected
to be paid in several parts throughout 2003.
Jan Callewaert, president and chief executive officer
of OPTION, commented, "Preserving our technology
leadership and investing in new product development remain
key priorities for OPTION. As a result we continue to
create new market opportunities for the company with the
introduction of new products such as a Combo card of GPRS
and WLAN. The IWT grant will allow us to further expand
our technological capabilities for the next generation
of products, while keeping our R&D cost under control.”
About Option - "Wireless Technology"-
NASDAQ Europe: OPIN
Option is the leading innovator in wireless communications.
The company specialises in the design, development and
manufacture of GSM, GPRS, WLAN, and 3G UMTS technology
products for wireless connectivity solutions. Option has
built up an enviable reputation for creating exciting
new products that enhance the performance and functionality
of wireless communications. Option’s headquarters
are in Leuven, Belgium. The company has Research &
Development in Leuven, a Software and Applications development
centre in Adelsried (Germany) and an ISO 9002 production
engineering and logistics facility in Cork, Ireland.
More information can be found at www.option.com
For financial contacts:
Frederic Convent
CFO & General Counsel
Tel +32 (0)16 317 411
investor@option.com
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