4 September 2007Company Announcements CentreAustralian Stock...

4 September 2007
Company Announcements Centre
Australian Stock Exchange

ENGIN ACQUIRES 10.38% OF UNWIRED (UNW)
Sydney, 4 September 2007:

Engin today announced that it has acquired approximately 10.38 per cent of the ordinary shares of Unwired Group Limited (“Unwired” - UNW.ASX) through a number of on market transactions, mainly at 40 cents per share.

The stake has been acquired for investment purposes and should enable Engin, as a significant shareholder, to participate in the growth of wireless broadband in Australia.

Engin acquired the Unwired shares using debt funding provided by a Seven Network group company (“Seven” - SEV.ASX).

Engin has been closely following the global development of WiMAX, and believes the technology is well placed at a point of maturity to deliver both fixed and ultimately mobile broadband solutions to consumers.

Unwired owns the vast majority of metropolitan spectrum for the licensed bands across which WiMAX will operate in Australia.

Neil Gamble, Executive Chairman of Engin said, “We see a strong rationale for Engin and Unwired working co-operatively.




A combination of Unwired’s wireless access services with Engin’s broadband telephony and TiVo offering would deliver a compelling consumer proposition.”




“As shown by our recent announcement to deliver ADSL2+ to customers, we see broadband access as an enabler of consumer services such as voice and TiVo .

As we develop new capabilities in voice technology, we see our services operating on multiple devices, across multiple access technologies.”

Engin is happy to have secured the strategically important 10.38% stake in Unwired, but looks forward to exploring other options with the board of Unwired to unlock what Engin's directors believe to be substantial synergies and other benefits in leveraging the two companies' assets.