SPIRIT and MadWaves Announce MP3 Software Product Licensing Agreement.

LONDON, ENGLAND; MOSCOW, RUSSIA - SPIRIT, a DSP software developer for TI platform in continental Europe and MadWaves UK, Ltd., generative and interactive music solutions provider announced an agreement whereby SPIRIT will license its MP3 software decoding product to MadWaves for use in the MadPlayer - a hand-held, multi-functional, portable music player/recorder. The MadPlayer allows users to listen to, create, interact with, compose and transport professional-quality, copyright-free digital music without the need for a PC or Internet connection. The MadPlayer also is a fully-functional MP3 player, karaoke machine and FM radio. The SPIRIT MP3 decoder will provide the mechanism by which the MadPlayer allows users to play back MP3 songs stored on the unit's SmartMedia card. "We're excited to be involved with MadWaves in partnership. SPIRIT is committed to provide manufacturers of telecommunication equipment and portable devices such as MadPlayer with high-quality DSP software products optimized and tuned for their specific needs as well as provide extensive timely support and technical consulting," said Andrew Sviridenko, CEO of SPIRIT. SPIRIT provided MadWaves complete software - the SPIRIT MP3 decoder, which was tailored for the exact configuration of the ARM7 based processor used in the MadPlayer. The SPIRIT MP3 decoder software enables the playback of MP3 music on the MadPlayer. "MadWaves has been very impressed with the quality of SPIRIT's products, their expertise in this area, and their attention to us as their customer. We are most pleased that SPIRIT has joined us in this agreement, and we look forward to a long, mutually beneficial business relationship," said MadWaves' President, Voislav Damevski.