Duraswitch Licenses Switch Technology to GGI

Duraswitch Industries, Inc. (Nasdaq: DSWT) announced today that it has executed a license agreement with Graham Group International (GGI).

PHOENIX, Ariz. (PRWEB) February 1, 2003 -- Duraswitch Industries, Inc. (Nasdaq: DSWT) announced today that it has executed a license agreement with Graham Group International (GGI). Under the terms of the agreement, GGI will be the exclusive Canadian switch manufacturer authorized to market, manufacture and distribute Duraswitchs next-generation electronic switch technology.

We continue to penetrate the global marketplace by aligning with established manufacturers in key sectors for Duraswitch technology," said Tim Kuhn, vice president business development for Duraswitch. GGIs reputation for high-quality, delivered-on-time products has earned them repeat business from customers, including some of the most demanding multi-national companies. They have underscored their commitment to providing the latest technology to these customers by becoming our sole Canadian switch manufacturer licensed to produce Duraswitch technology."

GGI is the largest manufacturer of membrane switches and graphic overlays in Canada, and is quickly becoming a leader across North America. It boasts of a state-of-the-art manufacturing facility in Montreal, Canada, with a customer service focus including technical assistance, an internal research and development team as well as an industrial design department. The quality and reliability of GGI's products has earned them certified supplier status with some of the global leaders in the medical, telecom, industrial control and aerospace industries. Among its noted customers are Nortel, Honeywell and GE.

GGI is a great example of a manufacturer that is taking advantage of the multi-billion dollar switch market and whose past projects represent the potential applications for Duraswitch technology," continued Kuhn. Their growing list of recognizable customers is a testament to the commitment the company and its employees have made to providing high-quality control panels. In todays market, consumers demand the best -- GGI and its customers provide this. Duraswitch is pleased to see GGIs past success and to be associated with its future."

At GGI, we believe in providing top-quality products and technology to our customers. Adding Duraswitchs revolutionary technology to our existing portfolio serves our customers needs and further differentiates us from other switch manufacturers," said Peter Graham, co-president of GGI.

Ian Graham, co-president of GGI continued, We work very closely with our customers and tend to think of ourselves as business partners -- instead of simply suppliers. Our tight working relationships allow us to develop an in-depth knowledge of their products and needs. We recognize that Duraswitchs technologies provide a solution many OEMs have been waiting for and we are excited to deliver that solution to our customers."

GGI is a first-rate organization and we are pleased to have them as part of the Duraswitch team," commented Duraswitch President and CEO Bob Brilon. Our licensing strategy continues to drive mutually beneficial relationships. The customer gets a high-quality switch, the licensee extends its product line with the next generation electronic switch technology and Duraswitch receives royalty revenue on every switch produced."

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About GGI
Graham Group International is a privately owned corporation that was formed in 1998 as the consolidation of four membrane switch and graphic overlay operations. An internationally recognized manufacturer, the Graham family has excelled in the product identification business for three generations. GGI is ISO 9001 registered and an active member of the Screenprinting & Graphic Imaging Association (SGIA). More information about GGI is available at www.ggi-international.com.

About Duraswitch
Duraswitch Industries Inc. licenses, engineers, and markets its patented electronic switch technology to switch manufacturers and OEMs worldwide (U.S. Patent Nos. 5,523,730 / 5,666,096 / 5,867,082 / 5,990,772 / 6,023,213 / 6,069,545 / 6,069,552 / 6,130,593 / 6,137,387 / 6,262,646 / 6,305,071).

This news release contains certain forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Risks and uncertainties that could cause results to differ materially from those projected are described from time to time in our documents filed with the Securities and Exchange Commission, including Form 10KSB. These forward-looking statements represent the Companys judgment as of the date of the press release. Duraswitch disclaims, however, any intent or obligation to update these forward-looking statements.
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