Pantech & Cingular Join Forces to Launch World's Smallest Camera Flip Phone in North America

Offered in the U.S. by Cingular Wireless, the new phone is likely to strongly appeal to trend conscious U.S. consumers because of its groundbreaking compact yet stylish design. The Pantech C300 will be a cornerstone of Pantech's strategy to increase sales and market share in North America over the coming year and is the first branded GSM handset to be launched by Pantech in the U.S.

Sung Kyu Lee, President & CEO, Pantech Wireless, Inc., said: "The launch of the C300 in the U.S. represents a huge step forward in the development of Pantech as a global brand. The U.S. is one of the most dynamic mobile markets in the world and we are excited to be working in partnership with Cingular to introduce our new and innovative handsets to American users."

The Pantech C300 phone is just 2.72 inches tall, 1.69 inches wide and only 0.76 inches thick with the flip closed, yet boasts bright, large font color screens both inside and out. It is equipped with a VGA camera with flash and zoom, as well as MP3 ringtones, SMS/MMS/IM client and e-mail messaging.

Pantech plans to ramp up sales in the U.S. by 20% in 2006, through a greater focus on developing its brand awareness in the market place and an increase in direct supplies to major U.S. service operators. Direct supplies to U.S. service operators, through regional subsidiary Pantech Wireless, are expected to account for about 70% of the company's exports to the North American market by the end of this year.

* The Pantech C300 is the world's smallest camera flip phone by volume in the GSM arena as of April 2006.

Pantech C300 features include:

About Pantech Wireless, Inc.:
Pantech Wireless, Inc., a Cypress, CA based subsidiary of Pantech & Curitel and Pantech Co., Ltd., researches, markets and develops wireless handsets and telecommunications products throughout North America as part of the Pantech Group. For additional information, visit the PWI website at www.pantechUSA.com.

About Pantech:
Pantech, through its affiliates - Pantech Co., Ltd., Pantech&Curitel Communications, Inc. and Pantech C&I Co. - is the number two mobile phone company in South Korea and is the seventh largest handset manufacturer in the world. Pantech has been responsible for a number of breakthrough innovations in the mobile technology sector, including the introduction in 2004 of the world's first fingerprint recognition camera phone, as well as award winning camcorder, MP3 and DMB phones. In 2005, Pantech affiliate Pantech&Curitel Communications acquired SK Teletech Co., the handset manufacturing arm of SK Telecom, the number one mobile network operator in South Korea. The SKY brand, originally marketed by SK Teletech as the most popular premium handset brand in South Korea, has since become part of the Pantech brand portfolio. Pantech markets its products under the SKY and Curitel brands in the domestic Korean market and under the Pantech brand overseas. Pantech collectively has approximately 5,000 employees and 22 regional sales offices worldwide. For more information on Pantech, please visit www.pantech.com.

Media Contacts:
Pantech Wireless, Inc. (U.S.)
Seri Yoon seriyoon@pantech.com +001- 562-344-9400
Adrienne Stimpson adriennestimpson@pantech.com +404-236-2420

Pantech
In Soo Nam nam.insoo@pantech.com +822-2030-1931
Yuin Yang sweetyuin@pantech.com +822-2030-1934