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Mitec Telecom announces letter of intent for acquisition that increases its presence in the wireless market

    -   Through the acquisition Mitec anticipates increasing its wireless
        revenues substantially
    -   Significant synergies between the companies are expected to help
        Mitec achieve long-term profitability
    -   Conditional offer with closing date scheduled in 2009

MONTREAL, Sept. 17 /CNW Telbec/ - Mitec Telecom Inc. ("Mitec") (TSX: MTM), a leading designer and manufacturer of mobile wireless, fixed wireless, broadcast and satellite components, announced today that it has entered into a letter of intent to purchase all of the issued and outstanding shares of a privately-held North American company ("Company") which provides wireless hardware components to major telecom equipment providers worldwide. The proposed transaction is subject to a number of conditions set forth below.

The acquisition is expected to increase Mitec's wireless revenues substantially and provide synergies to help Mitec achieve long-term profitability, a key aspect of Mitec's merger and acquisition strategy, as mandated by its Board of Directors. The acquisition is expected to close in Fall 2009.

Please note: Due to the nature of the proposed transaction, the Company's name and details on the acquisition price will only be disclosed upon completion of several conditions, including confirmation of financing the acquisition, a successful financial, legal and accounting due diligence process as well as various other steps customary to merger and acquisition activities. It is anticipated that the key employees of the Company will enter into employment agreements with Mitec upon closing.

About Mitec Telecom Inc.

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