Terocelo Announces Strategic Alliance Valued at US $50M for TSR Technology

Business Wire, Oct 1, 2007

VAN NUYS, Calif. -- Terocelo Inc., a leader in software defined radio solutions, today announced it has entered into a Memorandum of Understanding, and has started to define the form and structure of the definitive agreements in compliance with the tax laws of the countries involved, for the creation of a strategic alliance based on its' Lycon[TM] chip and proprietary True Software Radio[R] with a multibillion dollar Asian Technology fund, which is a subsidiary of a major US fund.

Under the terms of the agreement, the Asian Technology fund will pay $30M and continuing royalties (with an increasing annual minimum) for certain exclusive license rights to True Software Radio technology. An additional $20M will fund an independent corporate entity in order to fund Asian Operations and cover costs for foundry services, design center operations, application staging and marketing and sales efforts. A finalized licensing agreement must still be approved by the company's board of directors and shareholders and is subject to various standard closing conditions. Upon closing, the transaction will be accounted for in accordance with generally accepted accounting principals, and the transaction is expected to close in the fourth quarter of the fiscal year 2007.

"This is a very significant opportunity for Terocelo, entering into such a business arrangement for its' True Software Radio Technology. We are committed to collaborating with best-in-class companies who are also committed to TSR[TM]. This alliance will expand our base of operations significantly in Asia but will have effects worldwide. This alliance brings together our advanced TSR[TM] technology with a strong financial partner to help further the development. This is a validation of our technology development and we look forward to this closing this quarter," said Dick Hahn Chief Operating Officer of Terocelo.

For more information about Terocelo, visit www.terocelo.com.

About Terocelo Inc.

TechnoConcepts Inc. (OTCBB:TCPS)(Frankfurt: UYE.F) does business as Terocelo Inc. Terocelo is in the business of designing, developing, licensing and marketing technology focused in the communications marketplace. Terocelo is positioned in the high-growth, wireless communication market, having developed breakthrough, disruptive technologies. These technologies can be integrated into many high-volume commercial markets, including cell phone, automotive, base station, Femto/Pico Cell, and First Responder markets.

The company has developed and patented True Software Radio[R], a proprietary technology that creates convergence for the wireless industry. True Software Radio[R] has produced the Lycon[TM] family of wireless transmitter-receiver chipsets, designed to enable cell phones, PDAs, laptops, and infrastructure with different radio frequencies, standards, and protocols to adjust by software command so that they can communicate across otherwise incompatible networks, without the need for multiple radios. Lycon[TM] chipsets replace the front end, I/F processing, ADC, and digital filtering sections of radios. Because the technology simplifies design and reduces component costs, the company believes that Lycon[TM] and True Software Radio[R] are ideal platforms for Original Equipment Manufacturers (OEMs) and Original Design Manufacturers (ODMs) to develop new wireless broadband, mobile data, cellular, and other next-generation wireless applications.

Safe Harbor Statement under the Private Litigation Reform Act of 1995

Forward-looking statements in this release do not constitute guarantees of future performance. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Such statements may relate, among other things to expected financial and operating results, the expected acceptance of the company's products, the usefulness and benefits of the company's products generally and the acceptance of the company's technological solutions and its ability to achieve its goals, plans and objectives. The risks and uncertainties that may affect forward-looking statements include among others: difficulties providing solutions that meet the needs of customers, difficulty in developing new products, difficulty in relationships with vendors and partners, difficulty in introducing products in the marketplace and gaining acceptance of those products, difficulty gaining necessary governmental approvals, difficulty facing the intense competition present in the wireless communications industry, the company's limited operating history, its inexperience in operating internationally and difficulty managing rapid growth. For a more detailed discussion of the risks and uncertainties of TechnoConcepts' business, please refer to the company's Annual Report on Form 10-KSB for the fiscal year ended September 30, 2006, filed with the Securities and Exchange Commission, and as subsequently amended. The company assumes no obligation to update any forward-looking statement contained in this press release or with respect to the announcements described herein.