Eutech Partner forms a Joint Venture with KT Corp to provide Integrated and Intelligent Building Services

Seoul, South Korea, Wednesday, January 12, 2005

MOSTech Co Ltd (www.mostech.co.kr), a Eutech Cybernetics’ partner and associate company, has formed a joint venture in December 2004 with Korea’s leading Telecommunications and Broadband Services Provider, Korea Telecom (www.kt.co.kr) to create bizmeka-MOS (www.bizmeka.co.kr). The new venture will utilize and leverage on Eutech’s iViva.works Managed Services Platform to provide integrated, intelligent and total facility management services and solutions for buildings and facilities throughout Korea. This solution will be marketed and supported through KT’s national network and infrastructure.

The venture is in line with KT’s plan to diversify its range of services to also include e-Business Solutions (e-portal for SMEs), IT Outsourcing, Systems Integration, Real Estate Development, New City Development and Managed Intelligent Building Services (bizmeka-MOS).

Bizmeka-MOS will be providing services to KT’s new and existing buildings as well as Korea’s upcoming Digital Cities (such as Yong-In City) which provide a pervasive digital infrastructure and lifestyle in which roads, parks, green areas, are well designed and combined with a host of integrated services such as broadcasting, communications and Internet access anywhere within the city. bizmeka-MOS is also aggressively advertising and moving forward to provide services for commercial buildings, homes, hotels, university campuses and industrial facilities throughout Korea.

A central capability in delivering the bizmeka-MOS services is Eutech Cybernetics’ iViva.works – a scaleable Managed Services platform for Intelligent Building Services - brings together Enterprise Integration and Business Process Automation that enable the integrated management of both Building Systems and Business Systems. Its 3-tier application object framework enables flexible business process management and interconnects people, processes and systems over the Internet.

Dr. Hari Gunasingham, CEO of Eutech Cybernetics believes that Eutech’s considerable expertise in Intelligent Building Services, its domain expertise in building and facility management, and field proven technology capabilities will enable bizmeka-MOS to achieve its goals of becoming the premier service provider of intelligent building services in Korea.

(A bizmeka-MOS Advertisement for Intelligent Managed Services for Buildings and Infrastructure)

About KT Corp
KT is the largest and the most sophisticated communication network company in Korea. KT was founded on Dec. 10, 1981, to contribute to social welfare and convenience in everyday life by operating an efficient telecommunications service and developing telecommunications technology. KT led Korea into the information age as the nation's major communications company. KT's broadband service surpassed 5 million subscribers in Jan. 16, 2003 with a domestic market share up to 48%. KT wrapped up the privatization process selling its entire government stake. KT is rebranding itself not as a public telephone company, but as a progressive and creative company that will lead the way in the global information and telecommunications field.

About MOSTech
MOSTech Co Ltd is a fast growing South Korean Technology Company that provides solutions in the areas of facility and infrastructure management. MOSTech distributes and supports Eutech Cybernetics’ flagship software product, iViva.works™, through its network of offices located throughout South Korea. MOSTech’s customers include leading Korean and other multinational corporations as well as Korean government institutions.

About Eutech Cybernetics
Eutech Cybernetics (www.ecyber.com) is a leading provider of software products, solutions and services for Infrastructure Management in a variety of industries including Healthcare, Banking, Hospitality and Engineering Services. Eutech's recent focus has been on developing Web Services for Facilities and Intelligent Building Management applications. Eutech operates in 12 countries around the world with its headquarters located in Singapore, with total employee strength of 220. Eutech has a strong presence in the US with offices in Redwood City, California and Pittsburgh, Pennsylvania.