UTStarcom was founded in 1991 and listed on the NASDAQ in 2000. It has operational headquarters in Beijing, China and research and development operations in China and India. In year 2011, the Company deployed a revamped growth strategy that concentrates on providing media operation support services. For more information about UTStarcom, visit the Company's Web site at http://www.utstar.com.
About iTV Media, Inc.
Founded in 2007, iTV Mediahas dedicated full efforts to the advancement of TV over IP platform and the development of terminal products. In 2010, UTStarcom invested in iTV Media and became its largest shareholder. In 2011, iTV Media launched Chinese television services in the US and Canada under the "iTV.cn" service brand and gradually expanded into the local televisionmarket there.
Based in China, iTV Media provides services to the world's Internet-based transmissions using television, computers, mobile devices and other network-related products. iTVMedia offers services to various broadcasting terminals and provide viewers an all-digital, high definition, intelligent, and interactive television services.Forward-Looking Statements This release includes forward-looking statements, including statements regarding the deployment of Mira, the services to be provided to subscribers in Spain, and the Company's expectation regarding the growth of the subscriber base in Spain. These statements are forward-looking in nature and subject to risks and uncertainties that may cause actual results to differ materially. These include risks and uncertainties regarding iTV Media's ability to realize anticipated benefits of launching Mira TV, UTStarcom's ability to execute on its business plan and to manage regulatory matters as well as risk factors identified in UTStarcom's latest Annual Report on Form 20-F and Current Reports on Form 6-K as filed with the Securities and Exchange Commission. UTStarcom is in a period of transition and the conduct of its business is exposed to additional risks as a result. All forward-looking statements included in this release are based upon information available to UTStarcom as of the date of this release, which may change, and UTStarcom assumes no obligation to update any such forward-looking statement.