(November 19, 2001, HONG KONG) - Wafer Systems Limited, a leading network infrastructure solutions and services provider, received the Nokia Internet Communications' "Channel of the Year Award 2001", which demonstrated Wafer Systems' remarkable performance in product sales and services.

Mr. Peter Luk, General Manager, North Asia, Nokia Internet Communications said, "The selection procedures for the channel of the year award is critical. Every reseller must achieve notable results in services and sales performance, back-up capabilities, etc. With their proven technologies and services, Wafer Systems was a very strong candidate from the very start and I am not in the least surprise to see their win. We wish Wafer Systems all the best in their unremitting efforts to bring the breakthroughs in technology and support services."

Mr. Ringo Chan, Chief Executive Officer of Wafer Systems, added, "Riding on our state-of-the-art technologies, best-quality services and expertise, earned us the Gold Reseller award from Nokia recently. Following this award and over long-lasting collaboration as well as to attain series of training programs, which greatly enhanced Wafer Systems' capabilities, we subsequently won the "Channel of the Year Award 2001". The award demonstrated the recognition for our efforts and will motivate us to reach better achievements. We are also extremely pleased with Nokia Internet Communications' revolutionary products and strive to add value to end-users."

The "Channel of the Year Award 2001" launched by Nokia, is an award scheme encouraging resellers to upgrade their services with the top performers receiving the award. Surpassing the other candidates, Wafer Systems triumphed to receive the honor.

Mr. Chan concluded, "The next generation of telecommunication developers are eager to expand broadband services. Together with the PRC's accession to WTO which will propel a majority of multi-national companies to inevitably set up offices in Hong Kong and the PRC, there will be a number of golden opportunities for the future expansion of Wafer Systems. To this end, we will be integrating our many benefits with Nokia Internet Communications' innovative technologies and products, both offering unique services to our customers and growing with them."