Entreprenuer of the Year Joins Phitek Board

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Entreprenuer of the Year Joins Phitek Board

Phitek Systems Appoints Christopher Jones as Non-Executive Director

Auckland, 3 October 2005 - New Zealand global leader in advanced audio solutions Phitek Systems announced today that it has appointed Christopher Jones as a non-executive director of the Board.

Chris, CEO of Argent Networks, is a proven high achiever and recognised entrepreneur with an outstanding international track record in the IT and Telecommunications software sector. He has been the founder and CEO of several highly successful companies and brings more than 16 years of senior management expertise to the Phitek Board with financial, operational and board level experience.

In 2001 Chris formed leading software developer Argent Networks Ltd. Under his leadership, the company was named New Zealand Exporter of the Year with customers in Australasia, Asia, the Middle East and West Africa.

Prior to this Chris was the founder and CEO of Telemedia Networks Limited, and under his leadership the company grew revenue from zero to $60 million with a presence in 37 countries. As CEO he also managed a successful IPO on the Australian Stock Exchange in which market capitalisation reached in excess of AUD 800million. In recognition of his outstanding achievements Chris was named Ernst and Young Entrepreneur of the Year.

Chris also has business experience in Asia as Regional Sales Director for Atlas Telecom PLC and prior to that he was founder and managing director of Televox International Limited. Televox was a pioneer of voice technology in the Asia Pacific region winning the TUANZ Inaugural Award for "Innovation in Telecommunications". In acknowledgement of his achievements Chris was invited to participate in the Telecommunications "World Leaders Forum".

ENDS

About Phitek Systems

Phitek Systems 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 including Lufthansa, British Airways, Emirates and Singapore Airlines. Phitek also manufactures headphones and flat panel speaker products for global consumer brands. The company's headquarters is located in Auckland New Zealand with operating offices and production facilities located in Hong Kong, Taiwan, Japan, and Shenzhen. For more information about Phitek Systems Limited, visit www.phitek.com

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