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Presstek Subsidiary Lasertel Inc. Signs $7 Million Supply and Distribution Agreement

Press release from the issuing company

HUDSON, N.H., Jan. 26 -- Presstek, Inc., a leading manufacturer and marketer of environmentally responsible high tech digital imaging solutions for the graphic arts and laser imaging markets, announced today that its Tucson, Arizona subsidiary, Lasertel, Inc., has signed a three-year, $7 million supply and distribution agreement with HTOE of Beijing, China. Under the terms of the agreement Lasertel has been designated HTOE's primary supplier of laser diodes for incorporation into HTOE products. As part of the agreement, Lasertel has been granted exclusive rights to distribute the HTOE products containing Lasertel's diodes in North America and Europe. The products will be distributed in China by HTOE. In addition, the agreement provides for the integration of expertise and technology in support of a rapidly growing Chinese market through the parties' collaboration on new product development with the goal of expanding product offerings worldwide. Lasertel's President Mark McElhinney stated, "We are delighted to have this exciting new opportunity with HTOE. The China market has great potential, and is an important step in the expansion of our products into new geographic territories. HTOE is positioned well in the Chinese market, making them the ideal partner for Lasertel. We are looking forward to working with HTOE to provide customers with high-quality, state-of-the-art products." HTOE is a leading supplier of laser diode products and systems in China, specializing in commercial, industrial and medical product solutions. HTOE's Vice Chairman Jingfeng Zhao said, "Lasertel is recognized in China as a leading supplier of high-power laser diodes. This agreement solidifies the existing cooperation between HTOE and Lasertel. We see this agreement as a positive direction for the growth of both HTOE and Lasertel."