George Schmitt to become CEO of MBTH

 

TIDMXGT 
 
 
xG Technology Inc. 
02 December 2010 
 
                                                                December 2, 2010 
 
 
George Schmitt to Become Chief Executive Officer of MB Technology Holdings, LLC 
                  Announcement by MB Technology Holdings, LLC 
xG Technology, Inc. (LSE-AIM: XGT, the "Company"), the developer of a broad 
portfolio of wired and wireless communications intellectual property, including 
cognitive radio networks, would like to bring attention to the following 
announcement issued by MB Technology Holdings, LLC, the holder of 39.72% of the 
shares in the Common Stock of the Company: 
 
    "Industry Pioneer George Schmitt to Become Chief Executive Officer of MB 
Technology Holdings. Will Focus on Driving Adoption of xG Technology's Products 
  Schmitt Accepting Leadership Role After Extensive Technical Due Diligence and 
               Experience Working with xG Senior Management Team 
Sarasota, Fla.-December 1, 2010-MB Technology Holdings, LLC ("MBTH"), the holder 
of 39.72% of the shares in xG  Technology, Inc. (LSE-AIM: XGT, "xG"), announced 
today that wireless industry authority George Schmitt has agreed to become CEO 
of MBTH, effective December 1, 2010. MBTH is a recently-formed company 
wholly-owned by MB Merchant Group, LLC. Currently, xG, the developer of a broad 
portfolio of wired and wireless communications technologies, including cognitive 
radio networks, is the only holding of MBTH. In his new role, George will use 
his considerable experience and wireless industry contacts to help xG develop 
and market its intellectual property, product and technology portfolios. 
"George has made outstanding contributions to the business as a member of xG's 
advisory board," said Rick Mooers, executive chairman of xG. "When he expressed 
an interest in taking a more formal role for MBTH, we leapt at the opportunity 
to bring him on board. When someone of George's stature and accomplishments sees 
the potential that xG has worked so hard to create, and commits to working 
shoulder to shoulder with us to realise that potential - it's very gratifying." 
"As an advisor to xG over the past 6 months, I have had the opportunity to view 
the company's cognitive wireless technology up close, and work with the team at 
xG.  I have been impressed with both, and am delighted to take a more active 
role to accelerate the deployment of xG's technology and products in multiple 
markets," said George Schmitt. "In fact, I am in discussions to invest my own 
money in the xG opportunity through MBTH because I feel xG presents just too 
great a prospect to pass up." 
 "This is a very important announcement - an industry visionary joining a key 
innovator in the vital space of cognitive radio," said Craig Mathias, a 
principal with the wireless and mobile advisory firm Farpoint Group. "George 
Schmitt brings deep experience in the wireless industry and exceptional 
management leadership that will help propel xG forward in the exciting growth 
opportunity they've staked out." 
"I look forward to working closely with the people at xG," said Schmitt. "It's 
been fun to work with a team that's breaking new ground in unlicensed frequency 
operation, mobile VoIP, cognitive radios and other solutions that the wireless 
industry really needs. I'm excited about the future for xG." 
 
George Schmitt Bio 
George Schmitt has over 45 years of broad telecom experience in wireless and 
wireline companies. He currently serves on the boards of Calient, Kentrox, and 
Teleworx. George is an SBIC Director at TeleSoft Partners, a Silicon 
Valley-based venture capital firm, and is a Trustee of St. Marys College of 
California in Moraga, California. 
His experience includes e.spire Communications, Omnipoint Communications, LHS 
Group, Objective Systems Integrators, PCS PrimeCo, AirTouch Communications, 
Mannesmann Mobilfunk (Germany), Pacific Telesis, Pacific Telephone, and AT&T. 
Most recently, George was Chairman and Chief Executive Officer of e.spire 
Communications, a provider of voice, data and Internet services to markets 
throughout the U.S. 
Previously, George was President and a Director at Omnipoint Communication 
Services (NASDAQ: OMPT) until VoiceStream's acquisition of Omnipoint Corporation 
in 2000. Subsequently, Deutsche Telekom acquired Voicestream to form T-Mobile 
U.S. George was also a Director of two telecom software companies: LHS Group 
(NASDAQ: LHSG), where he was a director and member of the Audit Committee prior 
to its acquisition by Sema in 2000, and Objective Systems Integrators (NASDAQ: 
OSII), where he was also a director and chairman of the Audit Committee and 
member of the Compensation Committee, which was acquired by Agilent Technologies 
in 2000. 
Prior to joining Omnipoint, George was President and Chief Executive Officer of 
PCS PrimeCo (now part of Verizon Wireless), a national PCS partnership formed by 
AirTouch, Bell Atlantic, NYNEX and U.S. West. He came to PrimeCo from AirTouch, 
where he was Executive Vice President of International Operations responsible 
for AirTouch's operations in its ventures in Germany, France, Sweden, Belgium, 
Italy, Portugal, Japan, Korea and Thailand. Prior to PCS PrimeCo, George was a 
member of the board of management of Mannesmann Mobilfunk in Germany, and also 
headed the company's technical department. His department's responsibilities 
included the complete development and operation of the D2 network, the first 
commercial GSM network in the world. He also served as the Chairman of the GSM 
Association, an international organization responsible for overseeing the 
worldwide implementation of GSM wireless technology. 
George received an M.S. in Management from Stanford University, where he was a 
Sloan Fellow, and a B.A. in Political Science from Saint Mary's College. 
 
END" 
 
Contacts 
 
+----------------------------------------------+----------------------+ 
| xG Technology, Inc.                          | www.xgtechnology.com | 
+----------------------------------------------+----------------------+ 
| Richard Mooers, Chairman                     | [phone]      | 
+----------------------------------------------+----------------------+ 
| Roger Branton, Chief Financial Officer       | [phone]      | 
+----------------------------------------------+----------------------+ 
| James Woodyatt, Investor Relations           | [phone]      | 
+----------------------------------------------+----------------------+ 
|                                              |                      | 
+----------------------------------------------+----------------------+ 
| Allenby Capital Limited (Nominated Adviser & |                      | 
| Broker)                                      |                      | 
+----------------------------------------------+----------------------+ 
| Brian Stockbridge                            | [phone] | 
+----------------------------------------------+----------------------+ 
| Alex Price                                   | [phone] | 
+----------------------------------------------+----------------------+ 
 
 
Fusion PR (Media and Analyst Relations) 
+----------------------------------------------+----------------------+ 
| Heather Lukens                               | [phone]      | 
+----------------------------------------------+----------------------+ 
 
 
 
ABOUT XG TECHNOLOGY 
xG Technology is a leading developer of innovative and disruptive communications 
technologies for both wired and wireless networks. Its extensive patented 
intellectual property portfolio covers a broad range of applications including 
cognitive radio networks. The Company has commercialized some of these 
technologies to create xMax, the world's first carrier-class cognitive radio 
network. 
 
xMax's standards-based IP architecture minimizes network deployment, management 
and operational costs while simplifying the delivery of profitable fixed and 
mobile services. Using field-proven cognitive radio technology, xMax enables the 
delivery of these revenue-generating mobile services in both licensed and 
unlicensed bands.  In its initial commercial offering, the xMax cognitive radio 
system enables carriers and other operators to profitably monetize free 
unlicensed spectrum in the 900MHz ISM band. 
 
xMax also offers unique capabilities to enterprises, utilities, government 
agencies and others who require advanced wireless communications to support 
business operations and mission critical applications. 
 
xG Technology offers turnkey xMax network solutions including base stations, 
mobile switching centers, network management systems, deployment tools, handsets 
and customer support. 
 
To demonstrate its products and technologies, xG has deployed a 32 square mile 
xMax network in Fort Lauderdale, Florida to showcase its cognitive radio, mobile 
VoIP, and dynamic interference mitigation capabilities. Based in Florida, United 
States, xG Technology has over 50 US and more than 100 international patents and 
pending patent applications. For more information, please visit 
www.xgtechnology.com. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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