MITEC TELECOM ANNOUNCES AGREEMENT TO SELL BEVE ELECTRONICS
Signs Business Transfer Agreement with NOTE AB -Agreement approved by the Boards of Directors of NOTE and Mitec -Sale will significantly reduce Mitec’s debt level -Mitec also announces Shareholder Rights Plan Montreal, August 22, 2003—Mitec Telecom Inc. (TSX: MTM), a leading designer and provider of wireless network, satcom and radio frequency products for a variety of industries, today announced that it has signed a Business Transfer Agreement with NOTE AB of Sweden to sell the assets of BEVE Electronics AB, Mitec’s principal manufacturing operation in Sweden. NOTE AB is one of Sweden’s