Wafer Systems Limited (Wafer Systems) (stock code: 8198), the leading network infrastructure solutions and services provider, today signed a Memorandum of Understanding (MOU) with IBM China/Hong Kong Limited (IBM) to jointly provide total e-business solutions to corporations.

According to the MOU, Wafer Systems will offers its networking infrastructure solutions and software based on IBM e-business hosting environment; in return, IBM e-business hosting services will be bundled with Wafer Systems network infrastructure solutions to create synergy. The two companies will work together to serve the vast market demand for e-business solutions at competitive market prices.

Chief Executive Officer of Wafer Systems, Mr. Ringo Chan said, "IBM is the world's largest Internet/electronic/IT business solutions provider, with vast knowledge and experience in the area of e-business. We are delighted to cooperate with IBM in providing total e-business solutions, a move which significantly enhances our competitiveness and enlarges our customer base."

The agreement integrates the competitive strengths of both companies. In respect of e-business solutions, Wafer Systems is IBM's preferred partner in providing network infrastructure solutions and services; while IBM is Wafer Systems' preferred e-business hosting services provider regarding network infrastructure solutions & services.

Mr. Chan concluded, "With e-business applications technology growing increasingly in maturity, e-commerce applications have become a major trend for future business development. To capitalize on this market potential, Wafer Systems will, on the one hand, strengthen its technological foundations, while on the other hand, enhance its cooperation with other industry players to leverage synergies and speed up the pace of business growth."

About Wafer Systems
Wafer Systems Limited, a leading network infrastructure solutions and services provider in Hong Kong and the PRC, was founded in 1998 and was successfully listed on the GEM Board of The Stock Exchange of Hong Kong Limited in May 2002. Wafer Systems provides customers with one-stop comprehensive network infrastructure solutions and value-added services including (i) Network Infrastructure, (ii) Professional Services, and (iii) Network Software.

Headquarters in Hong Kong, Wafer Systems has sales and marketing presences in four major PRC cities, namely Beijing, Shanghai, Chengdu and Guangzhou, covering respectively the northern, eastern, western and southern parts of the vast China market. It also has a research and development centre in Xian, with focuses on developing its own proprietary software and complementary products. Additionally, Wafer Systems also established solid alliances with leading technology vendors including Cisco, Nokia, NetScout, NAI, Check Point, Radvision and Polycom etc.