Celtron International Subsidiary Acquires CreditPipe, Adding Revolutionary New Credit Card Processing and Check Guarantee to Cell Phones

Business Wire, Nov 6, 2003

Business Editors

MIDRAND, South Africa--(BUSINESS WIRE)--Nov. 6, 2003

Celtron International Inc. (OTCBB:CLTR) announced today that its South African subsidiary, Orbtech Holdings Limited, has acquired 100% of the outstanding stock of CreditPipe, a Mobile E-commerce platform and M-commerce enabler. Included in the acquisition is all intellectual property and business operations including technology that turns cell phones into a point-of-sale device accepting credit card and check transactions. Celtron has over 80 employees as of the close of this transaction.

The new service, Mobile Credit, utilizes Wireless Internet Gateway (WIG) technology that resides on a cell phone SIM card. This eliminates the need for any web-based banking service or Wireless Application Protocol (WAP). Users receive immediate transaction settlement in their bank account and confirmation is received in seconds via short messaging system (SMS) protocol. Customers are protected from fraud by the Mail Order Telephone Order (MOTO) rule, which gives them the right to dispute a transaction that takes place in the absence of traditional credit card validation. PriceWaterhouse-Coopers has audited the architecture of the system and verified that the transactions are both valid and secure. The service is available to subscribers at a discounted monthly subscription rate or non-subscribers pay regular transaction fees.

Mr. Allen Harington, Chairman of Celtron, confirmed that Celtron has signed agreements with CreditPipe Holdings in the UK and CreditPipe (Pty) Ltd in South Africa and that the acquisition will complement the current Mobile Solutions offerings of the group. According to Mr. Harington, "We have been looking for mobile technology that can deliver across GSM platforms. With the non-performance by Telechain UK on their agreement, we actively sought a suitable replacement to close the loop. CreditPipe has a very large potential subscriber base and with the current marketing agreement with MTN in South Africa it will be the ideal point of entry for our Mobile E-commerce market offerings."

According to Mr. Ron Pienaar, Managing Director of Orbtech Holdings, CreditPipe was a strategic acquisition as a Mobile Solution Services offering -- not only for Orbtech but also for Celtron. "The company has developed phenomenal mobile commerce switching technologies that can be deployed globally across mobile networks using both a push and pull strategy. With several fortune 500 clients already utilizing the technology and the backing of the largest mobile service provider in Africa, I am confident that they will over-deliver on their R 2 million profits warrant for the next financial year," said Pienaar.

"The CreditPipe architecture will enable both merchants and users, using all the major credit and debit cards, to transact using a wide range of innovative mobile commerce solutions," says Mr. Clayton Hayward of CreditPipe, "and the fact that MTN, one of the largest cellular network providers in Africa, has exclusively partnered with CreditPipe in the marketing and delivery of the services, to the extent where they are co-branding the product and marketing the services, speaks for itself."

"I believe that the future of mobile commerce has arrived and will present not only Orbtech in South Africa, but also Celtron, with a new untapped market and position us as serious players in the global Mobile space," Pienaar adds.

According to Mr. Allen Harington, the implementation of this agreement will further aid the growth strategy of Orbtech Holdings in South Africa and provide the group with another very lucrative annuity-based revenue stream that is required to sustain a healthy growth path and support the Orbtech listing efforts in Southern Africa. "This has further diversified the group's revenue base and investor risk while still maintaining the group's core focus on our core technology in mobile services," concluded Harington.

This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Celtron International Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.