CTS CORPORATION† Elkhart, Indiana 46514 (574) 293-7511
October 18, 2006
FOR RELEASE:† Immediately
AMBIENT OBTAINS GLOBAL SUPPLY-CHAIN PARTNER
CTS and Ambient Enter Agreement for Volume Production of X2 Nodes
Boston, MA, October 18, 2006 - Ambient Corporation (OTCBB: ABTG), a leader in Broadband over Power Lines (BPL) solutions, and CTS Corporation (NYSE: CTS), a leading provider of electronic manufacturing services, today announced that they have entered into a Memorandum of Understanding related to production of Ambientís X2 BPL Access Node.
The agreement with CTS allows Ambient to ensure volume production capability, which can scale to meet marketplace demands. CTS will provide full turnkey EMS services, including PCB assembly, box build integration and direct-ship logistics from its New Hampshire facility. Through this agreement CTS represents a strategic global supply-chain partner with multi-national and multi-plant capabilities for Ambient.
"CTS is delighted to be awarded this program," stated Don Schroeder, President of CTS EMS, "The X2 node is a leading-edge broadband product and we believe that our long-term experience within the technology-driven networking sector will serve Ambient well, and we look forward to building a strong partnership in the future."
"Securing a reliable source for one of the key components in our network architecture is one of the key pieces of the puzzle in meeting ever-increasing market demand for our FCC-certified product," commented John J. Joyce, President and CEO of Ambient Corporation. "Finding the right companies to work with, whether it be a utility or manufacturer, is crucial for this industryís success. As a leader in this industry, we are proud to have such a strong supply-chain partner."
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CTS is a leading designer and manufacturer of electronic components and sensors and a provider of electronics manufacturing services (EMS) to OEMs in the automotive, computer, communications, medical and industrial markets. CTS manufactures products in North America, Europe and Asia. CTS' stock is traded on the NYSE under the ticker symbol "CTS."
About Ambient Corporation
Ambient Corporation, a development stage company and founding member of the Universal Powerline Association (UPA), is a pioneer in the Broadband over Power Lines (BPL) industry. Engaged in the design, development and marketing of patented BPL equipment and technologies, Ambientís proprietary technology and in-depth industry experience is designed to provide optimal solutions for the Utility and Multi-Dwelling Unit (MDU) markets. Headquartered in Newton, MA, Ambient is a publicly traded company (OTC BB: ABTG). Visit Ambient at www.ambientcorp.com.
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This press release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by Ambient Corporation with the SEC, including the company's most recent report on Form 10-KSB and 10-QSB, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Ambient assumes no obligation to update any forward-looking statements. Ambient is a trademark of Ambient Corporation registered in the U.S. Patent and Trademark Office.
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|Anna E. Croop, Director of Corporate Communications|
|Telephone: (617) 614-6739, Email: firstname.lastname@example.org|
|Contact:||Vinod M. Khilnani, Senior Vice President and Chief Financial
Mitchell J. Walorski, Director of Investor Relations
|CTS Corporation, 905 West Boulevard North, Elkhart, IN 46514|
|Telephone: (574) 293-7511, Fax: (574) 293-6146|