[The modu handset experience includes a tiny fully functional mobile phone that can be slipped into modu stylized jackets and modu mates -- consumer electronic devices that are modu-enabled -- allowing users to create an entirely new communication experience.]

Kfar-Saba, Israel -- modu today announced a fundamental shift in the mobile handset industry by launching the world's first modular mobile phone, supported by variety of ecosystem partners. At the heart of the ecosystem is modu -- a tiny, sleek mobile phone that is fully functional and easy to use. The modu can be slipped into a wide variety of modu jackets -- stylishly designed phone enclosures -- and modu mates -- modu-enabled consumer electronics devices. modu's ecosystem offers boundless possibilities in a simple and affordable way.

Leading mobile network operators (MNOs) with a total of tens of millions of subscribers have already committed to modu, signing strategic partnerships that will see the first modu products available in the fourth quarter of 2008. The MNOs are Telecom Italia's mobile division TIM, BeeLine (VimpelCom) of Russia and Cellcom in Israel.

modu ecosystem partners also include mainstream consumer electronics manufacturers who have signed up to develop modu mates such as MP4 players, digital photo frames, cameras and DECT phones, enabling best of breed functionality coupled with modu's personal communication experience. One of the first such partners is car multimedia and navigation leader Blaupunkt.

Lifestyle, entertainment and fashion brands -- including the world's largest music company Universal Music Group -- are also part of the modu ecosystem, partnering with modu to design stylish and customized modu jackets.

modu, which was set up in 2007 by leading technology innovator and entrepreneur Dov Moran, the inventor of the USB Flash Drive and other ground breaking personal storage solutions, has developed a mobile phone that promises to transform the way people buy, use and enjoy personal communication.

Dov Moran, modu's CEO and founder, said: "The mobile phone industry is ready for a revamp. There are hundreds of handset models on the market: the trouble is that as a consumer you can only have one at a time and you are usually tied to a long and expensive contract. modu is challenging that with a solution that offers freedom, boundless possibilities and the opportunity to change your phone without it costing a fortune."

For MNOs, the benefits of partnering with modu are numerous: modu's business model gives them an additional opportunity to engage in a positive dialogue with their subscribers by offering the choice to affordably change their phone a few times a year; MNOs can also create and build new communities among their subscriber base, leading to increased usage, additional handsets, greater loyalty and reduced churn.

Dov Moran added: "modu is all about creating partnerships and opportunities and making new connections: for consumers, for operators, for big brands seeking a meaningful profile in the mobile market and for established consumer electronics businesses looking to realize the full potential of personal communication."

modu is already attracting widespread support from leading players in the mobile and consumer electronics markets.

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