Kiwi Company Spreads Its Wings

Kiwi Company Spreads Its Wings

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KIWI COMPANY SPREADS ITS WINGS ON THE BACK OF ORDERS FOR MORE THAN 100 AIRCRAFT

Auckand, New Zealand - 4 December 2003 - New Zealand's Phitek Systems today announced that it has received substantial orders for its world leading noise cancellation technology to be installed on more than 100 aircraft in 2004.

Phitek's noise cancellation systems have caught the attention of the world's commercial airline industry including leading avionics suppliers In-flight Peripherals Limited and Matsushita Avionics Systems Corporation. Matsushita (better known in New Zealand as Panasonic) is the world's largest supplier of in-flight entertainment equipment.

Mark Donaldson, Managing Director of Phitek Systems, says the use of Phitek based technologies on many of the world's leading commercial airlines not only reiterates the technical superiority and performance of our noise cancellation solutions compared to any other but also marks a watershed for the growth of the company.

"We are delighted that a major Australasian commercial airline will begin installing a Phitek noise cancellation solution for in-flight entertainment in three of its new Airbus aircraft scheduled to begin service in 2004," says Donaldson.

"Our noise cancellation systems will soon be providing many thousands of passengers with a vastly improved in-flight experience and a quality of sound that is quickly becoming the benchmark for the whole airline industry."

"The growth of Phitek's avionics business is really taking off. Through our very important relationship with MAS we have firm orders for our SmartJack(tm) product for more than 100 aircraft in 2004. This will mean significant cash flow for our avionics operation and a rapid expansion of the business."

"Phitek's noise technology systems are now considered to be the default industry standard for the world's major airlines because of their compatibility, durability, and relatively low cost," says Donaldson.

ENDS

About SmartJack(tm)

The noise cancellation technology in SmartJack(tm) filters out background ambient cabin and engine noise and replaces it with smooth, clear audio. Noise inside the passenger cabin has been demonstrated to add to jetlag and fatigue for many passengers on long haul flights. Phitek has also developed its own headphones that operate seamlessly with its in-jack solutions.

SmartJack(tm) technology is marketed through giant Japanese avionics company Matsushita Avionics Systems (MAS), who supply and install in-flight entertainment (IFE) products to around 85% of the world airline market. As a result Phitek's products are now being used on a global scale.

About Phitek Systems Limited:

Phitek Systems Limited (formerly Slab DSP Limited) is a leader in the development of advanced analogue and digital signal processing technologies for audio enhancement and noise reduction. Phitek's avionic systems are employed by a number of the world's largest and most successful airlines. Phitek also manufactures headphones and flat panel speaker products for the world's consumer electronics manufacturers. The company's headquarters are located in Auckland New Zealand with operating offices and production facilities located in Hong Kong, SAR and Shenzhen, ROC. For more information about Phitek Systems Limited, visit www.phitek.com .

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