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Macnica of Japan and Magnolia Broadband Sign Key Distribution Agreement

Magnolia Begins Commercial Deployment of DiversityPlus? Antenna Diversity Technology in Japanese OEM Market by Establishing Relationship with Leading Semiconductor Seller and Distributor

YOKOHAMA, JAPAN and CLINTON, N.J. – (November 2004) – Macnica Inc. (TSE: 7361), a leader in the import, development and sales of semiconductor and network equipment, and Magnolia Broadband, Inc., a fabless semiconductor company and innovator of antenna diversity radio frequency (RF) solutions for the wireless industry, jointly announced today that the companies have signed a distribution agreement. The pact authorizes Macnica to sell and distribute Magnolia’s diversity handset chipsets to original equipment manufacturers in the Japanese market.

This development and other recent partnerships (e.g., Uniquest and SK Telecom) illustrate the momentum Magnolia Broadband is achieving in its efforts to introduce, distribute and sell its DiversityPlus? handset chipset solution in Asia.

“We are very excited to represent Magnolia Broadband in the Japanese marketplace and are confident that our strong distribution and sales expertise in the region will help the company in its efforts to deploy its handset diversity technology with major handset OEMs,” said Haruki Kamiyama, president of Macnica. “We feel strongly that Magnolia’s exceptional receive and transmit diversity antenna solution is ideally positioned for success in Japan’s demanding marketplace.” “Macnica can provide Magnolia with the support and the marketing insight as we expand our base amongst OEM’s in Japan,” said Larry Wasylin, Magnolia’s vice president of sales. “We view Japan as a key market and exceptional fit for our unique diversity antenna technology and are quite pleased to have the premier sales leader help us develop our presence there.”

About DiversityPlus

DiversityPlus? is a family of RF chipset products designed around Magnolia’s unique algorithms for CDMA mobile terminals. By combining transmit and receive RF signals from two antennae in a unique way, wireless operators can double their network capacity and significantly improve coverage and data rates to the individual subscriber, without the need for additional cell phone towers and infrastructure.

Some other key benefits of DiversityPlus Chipset are the elimination of cell phone “dead zones”, increased cell phone battery life and substantially lower power emissions.

About Macnica

Macnica, Inc.’s (www.macnica.co.jp) principal activity is to distribute ICs and network related products. Its operations involve import and export of electronic components, such as semiconductor devices and ICs, distribution services, development and processing of related products, development of electronic equipment, peripheral equipment and accessories. The products also include internet-related equipment and network-related software and hardware.

About Magnolia Broadband

Magnolia is an innovative developer of semiconductors for the wireless industry and the first company to provide diversity antenna technology using unique RF chipset products that incorporate both transmit and receive diversity. By using a unique RF (Radio Frequency) chipset product and algorithm, it incorporates a novel way of combing RF signals from two antennae for both transmit and receive signals in the mobile terminal, enabling carriers to serve twice as many subscribers within the same wireless infrastructure while boosting phone coverage, data rates and battery performance. Carriers and consumers also benefit from more reliable connections, improved quality of service while having small impact on cost.

Leading CDMA carriers and mobile terminal manufacturers have tested Magnolia’s technology. Since its inception in 2001, Magnolia has raised $28.5 million in capital from notable investors like Draper Fisher Jurvetson Gotham, ECentury Capital Partners, SCP Private Equity Partners, Selway Partners and Silverstar Holdings. Magnolia has filed numerous patents related to its core technology and partnered with semiconductor industry notables such as Jazz Semiconductor, and Amkor Technology. For more information, go to www.magnoliabroadband.com.

Magnolia Contact information

Joseph Dans
Director of Accounts
Fusion Public Relations
570 Seventh Avenue
New York, NY 10018
(212) 651-4215

John H. Moon
SVP Corporate Development
Magnolia Broadband, Inc.
64 Old Highway 22
Clinton, NJ 08809
(908) 735-0372 ext. 202



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