VelaTel and ZTE signed a memorandum of understanding (MOU) for global strategic partnership in August of 2010 to advance both parties’ interests in delivering innovative telecommunications solutions to individual, enterprise, and government consumers worldwide. ZTE is our preferred and primary provider of customized equipment, software, consumer products, operational services and financing for high speed wireless broadband telecommunications networks VelaTel is deploying in the PRC, Peru, Eastern Europe, and other markets VelaTel enters in the future.

About ZTE Corporation

ZTE Corporation is a leading global provider of telecommunications equipment and network solutions. Founded in 1985, it is China’s largest listed telecoms equipment company. Listed as an A-share company on the Shenzhen Stock Exchange since 1997, the company was also listed on the Main Board of the Stock Exchange in Hong Kong in 2004, becoming the first Chinese company to hold both A and H shares.

ZTE has the industry’s most comprehensive product range and end-to-end solutions, covering virtually every telecommunications sector, including wireless, access&bearer,VAS, terminalsand professional services. The company’s expertise in these areas allows it to satisfy the demands of global operators and assist them in their pursuit of innovation. ZTE delivers its high-quality, cost-effective products and services to over 500 operators in more than 140 countries around the globe.