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    Invest Hong Kong, an investment promotion agency based in Hong Kong, formally welcomed Xybernaut Corporation as the company opened its Asia-Pacific regional office in Hong Kong today (March 1).  

    Xybernaut is a US-based provider of mobile/wearable computing hardware, software and solution services. The company's Hong Kong office, Xybernaut China Limited, is a joint venture company formed by Softbank Investment International and Xybernaut Corporation. It is tasked to promoting Xybernaut sales and marketing activities in the Asia-Pacific region, except Japan and Korea. Xybernaut China was granted the exclusive right to manufacture, market and sell Xybernaut products, solutions and intellectual property throughout the Mainland market. Other offices are located in Beijing and Shenzhen.

    The Chairman and CEO of Xybernaut Corporation, Mr Edward G Newman, said, "Hong Kong has clearly emerged as one of the strongest economic, financial and cultural hubs in Asia and perhaps the world. Hence we are keenly interested in leveraging Hong Kong's advantages as a centre for research, development and investment in cutting edge computing and communications technologies."

    "We will make use of Hong Kong as an integral part of our efforts to extend our intellectual property, know-how, systems and solutions in the region," stressed Mr Newman.

    He highly regards the city's free trade efforts, low taxation, well-defined legal system and world-class professional services ¡V but finds Hong Kong's role in bridging the gap between the Mainland and overseas markets especially appealing.

    "Hong Kong will be a gateway for Xybernaut not only to the Mainland China market, but also the anchor for other key markets in the Pacific region. The Hong Kong operation will likely be enlarged as we expand further into other regional markets," added Mr Newman.

    The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, welcomed the Xybernaut new venture to Hong Kong.

    "The presence of Xybernaut in Hong Kong once again affirms our position as both an IT hub and a premier business centre in the region. With Hong Kong's strong capability and experience in commercialising and marketing advanced technology, Xybernaut is well positioned to launch its products and services into Asia-Pacific, the fastest growing regional market in the world," said Mr Rutherford.

About Xybernaut

    Xybernaut Corporation is a leading provider of wearable/mobile computing hardware, software and services, bringing communications and full-function computing power in a hands-free design to people when and where they need it.  Headquartered in Fairfax, Virginia, Xybernaut has offices and subsidiaries in Europe (Benelux, Germany, UK) and Asia (Japan, China, Korea). For more details, please visit the Xybernaut website at www.xybernaut.com.

About Invest Hong Kong

    Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating foreign investment into the city by providing all the support needed to establish and expand a business presence here. For more information, please visit the website at www.investhk.gov.hk.

Ends/Tuesday, March 1, 2005

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