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Kunekt Signs Agreements to Acquire Two Chinese Mobile Phone Companies

Kunekt to Design, Build and Market Quality Mobile Phones and Android Smartphones and Tablets in Developed and Developing Countries

HONG KONG Jan. 24 Hong Kong China India

Guangzhou, China Beijing, China

RMB 33 million $5 million USD Chengwu Zhu

Jin Su

Mark Bruk China

Matt Li

Kunekt plans to evolve the Xingwei team into a smartphone and tablet design group. Together with the Android team at Yiyueqiji, Kunekt will have a complete design team for mobile phones, smartphones and tablets, enabling the company to control all aspects of the design, manufacturing and distribution of its mobile device products.

China India China Hong Kong Beijing

"This business and skill-set combination enables Kunekt to significantly advance its business. In one move, we combine the Kunekt brand, a mobile device design team and an Android design team, fundamentally repositioning Kunekt from a business in development to an established mobile phone company," said Bruk, who will be the co-chairman and co-CEO of Kunekt upon  the closing of the acquisitions.

Li added, "These transactions are positive not just for Kunekt but also for Yiyueqiji’s and Xingwei’s existing customers."

www.kunekt.com

Public Relations/Media
Richard Stern

[email protected]

I nvestor Relations
Andrew J. Barwicki

[email protected]

Digital Strategies

[email protected]

Forward-Looking Statement

This news release contains "forward-looking statements". Statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, such as the following: (1) statements regarding the management and corporate structure of Kunekt upon closing of the definitive agreements; (2) that initial targets upon closing of the definitive agreements will be Indian and Chinese markets and that the biggest growth opportunities are in the Chinese and Indian markets; (3) that Kunekt will become an established mobile phone company upon closing of the definitive agreements; and (4) that post-closing, Kunekt will have a complete design team for mobile phones, smart phones and tablets, enabling the company to control all aspects of their design, manufacture and distribution.  It is important to note that actual outcomes and Kunekt’s actual results could differ materially from those in such forward-looking statements. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (1) a failure to close the definitive agreements; (2) an unwillingness for the persons named in this release to serve as management of the company post-closing; (3) an inability to evolve the businesses of the different companies into a singular group; (4) the ability of Kunekt to design, manufacture and market mobile phones, smartphones and/or tablets at all and at a price less than the industry leaders; (5) Kunekt’s ability to remain competitive as other parties develop and release competitive products; (6) Kunekt’s ability to engage reliable companies to manufacture mobile phones, smartphones and tablets; (7) the ability of Kunekt to establish a recognized and/or global brand for its mobile phones, smartphones and tablets; (8) the success by Kunekt of the sales of its current and new products; (9) the impact of technology changes on Kunekt’s products and on the industry; (10) general economic conditions as they affect Kunekt and its current and prospective customers, including a continued downturn in general economic conditions internationally; (11) the ability of Kunekt to control costs operating, general administrative and other expenses; and (12) insufficient investor interest in Kunekt’s securities which may impact on its ability to raise additional financing as required.

www.sec.gov www.kunekt.com October 31, 2010 January 2011

January 24, 2011

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SOURCE Kunekt Corporation

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