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Strategic Partnership in 2.5G/3G Multi-Media

5th October , 2004

Europe : Emblaze Mobile Ltd. has entered into a strategic partnership agreement with Innostream, Korea's leading independent mobile phone manufacturer, to create one of the world's most innovative multi-media handset makers. Inset is Eli Reifman, CEO of Emblaze who is quoted below.

Emblaze Mobile will invest up to $31 million over the next three years and provide a $15 million cash infusion into Innostream for inventory and working capital needs.

Demand for multimedia handsets is expected to increase substantially in 2005 as leading operators launch 2.5G and 3G value added services worldwide. The combination between the two companies creates a strong alliance of best of breed wireless rich media technology, handset design and manufacturing skills. Both companies will join forces to create a leading provider of customized, mid range and high end devices operating both as an ODM for operator private labeling and creating its own brands.

In addition, the combination of the two companies will provide confidence to the operators who are seeking long term security of supply of multimedia technology, innovation and quality handsets as they gear up for the launch of their 2.5G/3G services. Both companies intend to launch an aggressive marketing campaign in Europe and the far-east to promote their new designs and joint developed devices.

Eli Reifman, chief executive of Emblaze, said: "Our partnership combines the best of two worlds; Israeli technology and software combined with Korean innovation, vast experience and leading designs. We have known Innostream as a client when they have purchased chipsets from our formerly owned Emblaze Semiconductor. Since then, both companies have learned to work together and cooperate on many levels bridging cultural gaps and geography. We could not have chosen a better partner for growth."

Mr. Gijong Lim, CEO and Founder of Innostream said: "We are very happy to receive Emblaze Mobile into our family. Innostream is known as one of the leading design and manufacturing houses in Korea. Our technology and innovation are well renowned in the far-east and we hope through the partnership with Emblaze we will be able to combine our forces to create cutting edge handsets and extend our brands and knowledge into Europe and the USA. We welcome our new partners and look forward to our road ahead."

Uzi Breier, chief executive of Emblaze Mobile, said: "We operate in a highly competitive and harsh market. In order to be on top we must constantly reinvent ourselves into a stronger, faster and more aggressive player than the rest of the pack. It is not always possible to do it on your own. Partnerships and consolidation of skills are key to this game. I've known Innostream since my days as CEO in Emblaze Semiconductor and I have great faith in their partnership and skills. I welcome them to Emblaze Mobile and our mutual way forward."

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