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Telecom New Zealand and Lucent Technologies Announce US $10 Million Agreement and VimpelCom Shareholders Elect New Board

Wireless Communications industry news provided by Financial News USA (OTC: FNWU). Telecom New Zealand and Lucent Technologies (NYSE: LU) recently announced that Lucent will upgrade Telecom's existing CDMA2000 1xEV-DO mobile network with CDMA2000 1xEV-DO Revision A (Rev. A) technology, which will enable Telecom to support faster, lower latency connections and a range of new services such as enhanced push-to-talk, multi-player gaming, laptop-based video conferencing, and Voice over Internet Protocol (VoIP). NTL Incorporated (NASDAQ:NTLI) announced recently that it is seeking amendments to pricing and tranching under its senior bank facilities that will improve its financing arrangements. These proposed amendments will not change the overall debt incurred. NTL continues to focus on completing the syndication of the tranche A and tranche B facilities, and the scheduled closing of the Virgin Mobile acquisition transaction.

Open Joint Stock Company "Vimpel-Communications" (NYSE: VIP), recently announced that its shareholders, at its Annual General Meeting of Shareholders (AGM) held recently in Moscow, Russia, approved all items on the agenda and elected a new Board of Directors. Holders of approximately 71% of our shares were represented at the AGM. VimpelCom is a leading international provider of mobile telecommunications services in Russia and Kazakhstan. Diamond I, Inc. (OTC BB:DMOI), a developer of wireless gaming products, recently advised that its CEO was quoted in an article written by Jack Bulavsky entitled "Gaming on the Go" appearing in the June 2006 edition of "Casino Journal," whose cover story is "Technology in Hand." In his article, Mr. Bulavsky discusses the exciting future of wireless gaming in Nevada casinos and states that "the future for wireless gaming remains so bright that many operating and wireless gaming manufacturers are wearing sunglasses."

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