ITOCHU and MeshNetworks Expand Relationship Through Strategic Investment and Collaboration • Partnership Targets Pan-Asian Telematics, Public Transport and Consumer Electronics Markets

MAITLAND, FL - April 28, 2003 - MeshNetworks, Inc., an industry leader in the development and commercialization of mesh-enabled networking solutions, and ITOCHU, the premier Japanese trading company in telecommunications, information technology, media and retail, expanded their relationship today.

ITOCHU, which already promotes MeshNetworks technology in Japan, will expand its scope to target partners and customers throughout Asia. As part of the agreement, ITOCHU further solidified its commitment in working with MeshNetworks through a significant investment as part of MeshNetworks’ Series C round of funding. The two companies have identified public transportation, telematics and consumer electronics as burgeoning markets for MeshNetworks’ peer-to-peer wireless broadband networking products.

“Public transportation, automakers and electronics OEMs throughout Asia are looking for a robust wireless networking solution to enable voice, video, data and position location for machine-to-machine and mobile wireless LAN communications,” said Shigemitsu Takatori, General Manager, Business Solutions Department of ITOCHU. “By strengthening our relationship with MeshNetworks, we will be able to bring their innovative products to many strategic markets.”

MeshNetworks’ MeshNetworks Enabled Architecture (MEA™) is the world’s first scalable peer-to-peer networking solution for mobile broadband networks. The MEA family of products enables vehicles, devices and individuals to instantly connect with each other and to the public telephone network, Internet and private networks. MEA also offers built-in precision position location - without the use of costly GPS receivers. MEA is unique in the market with its ability to support voice, video, data and position location from a single low-cost, integrated wireless IP network.

“We are honored to further our business alliance with one of the world’s most respected companies,” said MeshNetworks’ CEO Richard Licursi. “By leveraging ITOCHU’s vast market knowledge and network of contacts, we can successfully address the unfulfilled mobile networking needs of the Asian markets.”

About MeshNetworks
MeshNetworks delivers innovative mobile broadband network solutions based on patented ad hoc peer-to-peer technology. The Company’s MeshNetworks Enabled Architecture (MEA™) provides wireless broadband connectivity to fixed, portable and mobile devices. Voice, video, data, telemetry and position location are supported to specifically meet the needs of Intelligent Transportation Systems (ITS), Public Safety, First Responders and Defense applications. MeshNetworks offers these solutions through OEMs, System Integrators, and Value Added Resellers.

About ITOCHU
ITOCHU Corporation (www.itochu.co.jp) is one of Japan's leading trading companies with annual sales exceeding 11.4 trillion yen (US$85.5 billion). Currently ranked 17th in Fortune Magazine's Global 500 list, ITOCHU Corporation has over 650 subsidiaries and associated companies worldwide. ITOCHU aims to discard conventional business models, and intensively shift management resources to attractive and powerful segments and areas: information and multimedia; consumer and retail; natural resource development; financial services; and North America and China. The company will accelerate reorganization of its profit structure and management system with emphasis on speed and action.

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please contact us at sales@meshnetworks.com