-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 JlNMSBc409QLWW8+pVvtBTCpgyH+4m5CCJnBKd4KLGjk3+tQei2TGYM5Bx0T2p8O
 bMT/JiN7+k8O3UZ79tDxVg==

<SEC-DOCUMENT>0001104659-04-011139.txt : 20040423
<SEC-HEADER>0001104659-04-011139.hdr.sgml : 20040423
<ACCEPTANCE-DATETIME>20040423172500
ACCESSION NUMBER:		0001104659-04-011139
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20040422
ITEM INFORMATION:		Other events
FILED AS OF DATE:		20040423

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UTSTARCOM INC
		CENTRAL INDEX KEY:			0001030471
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMUNICATIONS EQUIPMENT, NEC [3669]
		IRS NUMBER:				521782500
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-29661
		FILM NUMBER:		04752016

	BUSINESS ADDRESS:	
		STREET 1:		1275 HARBOR BAY PARKWAY
		STREET 2:		STE 100
		CITY:			ALAMEDA
		STATE:			CA
		ZIP:			94502
		BUSINESS PHONE:		5108648800

	MAIL ADDRESS:	
		STREET 1:		1275 HARBOR BAY PARKWAY
		STREET 2:		STE 100
		CITY:			ALAMEDA
		STATE:			CA
		ZIP:			94502
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a04-4778_18k.htm
<DESCRIPTION>8-K
<TEXT>
<html>

<head>



</head>

<body link="blue" vlink="purple">

<div>

<div style="border:none;border-top:double windowtext 9.0pt;padding:0in 0in 0in 0in;">

<p align="center" style="border:none;margin:0in 0in .0001pt;padding:0in;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED STATES</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Washington, D.C.
20549-1004</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM 8-K</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT REPORT</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Pursuant to Section&nbsp;13 or 15(d) of the Securities
Exchange Act of 1934</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date of Report (Date of earliest event
reported): <b><font style="font-weight:bold;">April 22, 2004</font></b></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UTSTARCOM, INC.</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact name of registrant as specified in
its charter)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.4%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Delaware</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.16%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.14%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">000-29661</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.14%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.16%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">52-1782500</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.4%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other jurisdiction of<br>
  incorporation)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.16%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.14%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission File Number)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.14%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.16%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(I.R.S. Employer Identification No.)</font></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.4%;">
  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.16%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.14%;">
  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.14%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.16%;">
  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1275 Harbor Bay
  Parkway<br>
  Alameda, California&nbsp; 94502</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of principal executive
  offices)&nbsp;&nbsp;&nbsp;&nbsp;(Zip code)</font></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.4%;">
  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.16%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.14%;">
  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.14%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.16%;">
  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(510) 864-8800</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Registrant&#146;s telephone number,
  including area code)</font></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.4%;">
  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.16%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.14%;">
  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.14%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.16%;">
  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">N/A</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Former name or former address, if
  changed since last report.)</font></p>
  </td>
 </tr>
</table>

</div>

<div style="border:none;border-bottom:double windowtext 9.0pt;padding:0in 0in 0in 0in;">

<p align="center" style="border:none;margin:0in 0in .0001pt;padding:0in;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="2" face="Times New Roman" style="font-size:10.0pt;">
<!-- SEQ.=1,FOLIO='',FILE='C:\jms\mbabu\04-4778-1\task112718\4778-1-ba.htm',USER='mababu',CD='Apr 23 00:14 2004' -->
<br clear="all" style="page-break-before:always;">
</font>

<p align="center" style="font-family:'Times New Roman';font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 5.&#160; Other Events and Regulation FD Disclosure</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On April 22, 2004, UTStarcom, Inc., a
Delaware corporation, issued a press release entitled &#147;UTStarcom Agrees to
Acquire Telo Technology, Leading Provider of Industry-Proven Packet Core
Networks for CDMA2000.&#148;&#160; The press
release is attached to this Form 8-K as Exhibit 99.1 and is incorporated herein
by reference.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>


<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="2" style="font-size:10.0pt;">
<!-- SEQ.=1,FOLIO='2',FILE='C:\jms\mbabu\04-4778-1\task112718\4778-1-ba.htm',USER='mababu',CD='Apr 23 00:14 2004' -->
<br clear="all" style="page-break-before:always;">
</font>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURE</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="52%" valign="top" style="padding:0in .7pt 0in .7pt;width:52.0%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="48%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:48.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">UTSTARCOM, INC.</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="52%" valign="top" style="padding:0in .7pt 0in .7pt;width:52.0%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.76%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="42%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:42.24%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="52%" valign="top" style="padding:0in .7pt 0in .7pt;width:52.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date: April 22, 2004</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="29%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:29.84%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Michael J. Sophie</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0in .7pt 0in .7pt;width:12.42%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="52%" valign="top" style="padding:0in .7pt 0in .7pt;width:52.0%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="42%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:42.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Michael J. Sophie</font></p>
  </td>
 </tr>
 <tr>
  <td width="52%" valign="top" style="padding:0in .7pt 0in .7pt;width:52.0%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="42%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:42.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior Vice President of Finance and Chief<br>
  Financial Officer</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>


<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="2" face="Times New Roman" style="font-size:10.0pt;">
<!-- SEQ.=1,FOLIO='3',FILE='C:\jms\mbabu\04-4778-1\task112718\4778-1-ba.htm',USER='mababu',CD='Apr 23 00:14 2004' -->
<br clear="all" style="page-break-before:always;">
</font>

<p align="center" style="font-family:'Times New Roman';font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">INDEX TO EXHIBITS</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="9%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:9.74%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="88%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:88.08%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="9%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:9.74%;">
  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="88%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:88.08%;">
  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="9%" valign="top" style="padding:0in .7pt 0in .7pt;width:9.74%;"><p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in .7pt 0in .7pt;width:2.18%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="88%" valign="top" style="padding:0in .7pt 0in .7pt;width:88.08%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Press release entitled &#147;UTStarcom Agrees to Acquire Telo Technology, Leading Provider of Industry-Proven Packet Core Networks for CDMA2000&#148; dated April 22, 2004.</font></p></td>
 </tr>
</table>

</div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>


<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>


<!-- SEQ.=1,FOLIO='4',FILE='C:\jms\mbabu\04-4778-1\task112718\4778-1-ba.htm',USER='mababu',CD='Apr 23 00:14 2004' -->
</body>

</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>a04-4778_1ex99d1.htm
<DESCRIPTION>EX-99.1
<TEXT>
<html>

<head>



</head>

<body link="blue" vlink="purple">

<div style="font-family:'Times New Roman';layout-grid:18.0pt;">

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Exhibit 99.1</font></b></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="3" face="Times New Roman"><img width="130" height="50" src="g47781mmimage001.gif"></font></p>

<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">UTSTARCOM AGREES TO ACQUIRE TELOS TECHNOLOGY, LEADING
PROVIDER OF INDUSTRY-PROVEN PACKET CORE NETWORKS FOR CDMA2000</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>

<p align="left" style="font-style:italic;font-weight:bold;margin:0in 0in .0001pt;text-align:left;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">Acquisition Bolsters
UTStarcom&#146;s CDMA Infrastructure Portfolio; Extends Company&#146;s Worldwide CDMA
Initiative with New Technology, Markets</font></i></b></p>

<p style="font-style:italic;font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ALAMEDA,
Calif., April 22, 2004&#151; UTStarcom, Inc. (Nasdaq: UTSI), a global leader in IP
access networking and services, today announced an agreement to acquire
substantially all of the assets of Vancouver-based TELOS Technology, Inc., a
leading provider of distributed mobile switching solutions for voice and data
communication networks to the fast-growing rural, enterprise, and emerging
wireless markets. The assets acquired will include TELOS&#146; complete product
family, including the Sonata SE Softswitch, Sonata FS Feature Server, and
Sonata OMC Operations Maintenance Center.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;Acquiring TELOS accelerates and expands our
global CDMA strategy, complements our existing IP-based wireless product
portfolio, and provides UTStarcom with access to new market segments&#151;such as
enterprise and rural&#151;beyond our extremely successful PAS business,&#148; said Hong
Lu, president and chief executive officer of UTStarcom. &#147;Additionally, TELOS
builds upon our relationships with the top worldwide service providers and provides
a team of experts who can focus exclusively on CDMA softswitch technology while
our China team centers its efforts on UTStarcom&#146;s </font><font size="2" style="font-size:10.0pt;">Wideband
CDMA (WCDMA) mSwitch</font><font size="2" face="Symbol" style="font-family:Symbol;font-size:10.0pt;">&#212;</font><font size="2" style="font-size:10.0pt;">  </font><font size="2" style="font-size:10.0pt;">softswitch solution.&#148;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">A
PowerPoint presentation with additional details on the acquisition can be
viewed on UTStarcom&#146;s Web site at: http://www.utstar.com</font></i></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;TELOS is excited to be a part of the
UTStarcom team,&#148; said Jack Mar, founder, chief executive officer and president
of TELOS.&#160; &#147;This transaction represents
an excellent opportunity to blend our IP-based CDMA network solution and
accelerate UTStarcom&#146;s Global Wireless Strategy.&#148;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="2" face="Times New Roman" style="font-size:10.0pt;">
<!-- SEQ.=1,FOLIO='',FILE='C:\jms\mnguye\04-4778-1\task113393\4778-1-mm.htm',USER='mnguyenb',CD='Apr 23 15:03 2004' -->
<br clear="all" style="page-break-before:always;">
</font>

<p align="center" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TELOS&#146; all-IP </font><font size="2" style="font-size:10.0pt;">Code Division Multiple Access (</font><font size="2" style="font-size:10.0pt;">CDMA) softswitch
solutions extend UTStarcom&#146;s Global Wireless Strategy, announced last month,
with market-proven products that complement UTStarcom&#146;s existing CDMA radio
access network (RAN)</font><font size="2" style="font-size:10.0pt;">,
CDMA </font><font size="2" style="font-size:10.0pt;">Packet Data Serving Node (PDSN), </font><font size="2" style="font-size:10.0pt;">IP-based Personal Access Systems (iPAS</font><font size="2" face="Symbol" style="font-family:Symbol;font-size:10.0pt;">&#212;</font><font size="2" style="font-size:10.0pt;">), </font><font size="2" style="font-size:10.0pt;">and
third-generation (3G) portfolio.</font><font size="2" style="font-size:10.0pt;"> With the TELOS
acquisition, UTStarcom can now offer tier-one global operators a full range of
feature-rich, cost-competitive CDMA solutions. The deal also provides UTStarcom
with a talented CDMA development team that has the specific expertise to manage
UTStarcom&#146;s new CDMA business division.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The transaction includes an initial cash
consideration of $29 million, and is subject to an additional payment of up to
$19 million based upon the achievement of certain revenue milestones. This
transaction is subject to satisfaction of certain customary conditions and is
anticipated to close in the second quarter 2004. TELOS CEO Jack Mar will serve
as president of UTStarcom&#146;s CDMA Division and corporate vice president. The
UTStarcom CDMA business division will be headquartered at TELOS&#146; existing
facility in Richmond, British Columbia.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Financial Guidance:</font></u></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Detailed Financial Guidance on the newly
formed UTStarcom CDMA Division (TELOS and Hyundai Syscomm) will be provided on
the April 27 earnings conference call.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preliminary guidance includes:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The company expects this division to
contribute approximately $25 million in the second half of 2004 and to be
accretive to EPS in the fourth quarter of 2004.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Specific guidance on the conference call will
include:</font></p>

<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Q2:</font></u></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In Process R&amp;D Charges</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">M&amp;A Expense</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">R&amp;D Expenses</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="2" face="Times New Roman" style="font-size:10.0pt;">
<!-- SEQ.=1,FOLIO='',FILE='C:\jms\mnguye\04-4778-1\task113393\4778-1-mm.htm',USER='mnguyenb',CD='Apr 23 15:03 2004' -->
<br clear="all" style="page-break-before:always;">
</font>

<p align="center" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>

<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">2005:</font></u></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Targeted shipments in excess of $100 million</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accretive to EPS</font></p>

<h3 align="left" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h3>

<h3 align="left" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">TELOS Softswitch Grows UTStarcom&#146;s CDMA
Infrastructure Portfolio</font></b></h3>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CDMA/CDMA2000 worldwide subscriber growth is
projected to exhibit the fastest sequential growth of any wireless access
technology through 2008. The TELOS acquisition will allow UTStarcom to
diversify its 3G wireless offerings and actively pursue high-growth CDMA
markets. This acquisition quickly follows UTStarcom&#146;s March 2004 announcement
to acquire CDMA pioneer Hyundai Syscomm for its </font><font size="2" style="font-size:10.0pt;">3G CDMA radio access network portfolio, RF
expertise, and intellectual property portfolio.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The TELOS CDMA2000 softswitch can interface with Hyundai Syscomm&#146;s IP
base station and will enable UTStarcom to offer its customers the best possible
system based on available spectrum, existing infrastructure, and roaming
requirements. The acquisition also gives UTStarcom the opportunity to deliver
hybrid CDMA/PAS solutions where economics and demographics require, and enter
markets where PAS spectrum and licensing is not available.&#160; TELOS&#146; product portfolio brings U.S.
standards and existing CDMA interfaces to UTStarcom&#146;s CDMA product offerings,
while the company&#146;s existing mSwitch platform supports international standards
and WCDMA for worldwide markets.&#160; Open,
IP-based platforms will allow UTStarcom to provide carriers with one common IP
core with support for multiple networks and 3G standards.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">UTStarcom is now poised to lead the CDMA
market with an established portfolio of products, expertise, and tier-one sales
channels. By extending its world-class CDMA wireless product portfolio,
UTStarcom can now offer greater flexibility to any North American or global
operator with customized, cost-effective voice and data solutions.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Acquisition Reinforces Global
Wireless Initiative</font></b></h2>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">UTStarcom&#146;s Global Wireless Strategy is to be
a full-solutions global wireless provider by supplementing organic growth with
strategic acquisitions when they expand the company&#146;s global reach, leverage
its operating model and sales channels, and advance its long-term competitive
value. In March of this year, UTStarcom announced key components of that
strategy, which include </font><font size="2" style="font-size:10.0pt;">QUALCOMM licensing for
CDMA and WCDMA subscriber and infrastructure equipment; the launch of
UTStarcom&#146;s </font><font size="2" style="font-size:10.0pt;">MovingMedia
product line, which provides a common IP core network for WCDMA, TDCDMA, and
TD-SCDMA access to high-speed 3G wireless networks; a partnership with
Panasonic to develop Radio Access Network (RAN), Base Transceiver Station
(BTS), Radio Network Controller (RNC), and other related telecommunications
products for end-to-end 3G solutions supporting WCDMA and TD-SCDMA access
technologies; and a development partnership with IPWireless to develop
end-to-end TDCDMA solutions for non-China markets.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">About
TELOS Technology, Inc.</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TELOS Technology, Inc. is the leading
supplier of next generation, packet-based wireless solutions for voice and data
communication networks to the fast-growing rural and emerging wireless markets.
TELOS has been a pioneer in developing and fielding affordable, innovative and
scalable wireless systems based on a distributed, open architecture that
supports industry standards. The company&#146;s wireless systems have been
commercially deployed in over 35 countries, delivering 2G, 2.5G and 3G services
for CDMA2000, GSM and UMTS. TELOS Technology has global sales offices in the
USA, Canada, Europe and Hong Kong.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">About
UTStarcom, Inc.</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">UTStarcom is a global leader in IP access
networking solutions and international service and support.&#160; The company sells its wireline, wireless,
optical and switching solutions to operators in both fast growth and
established telecommunications markets around the world.&#160; UTStarcom enables its customers to rapidly
deploy revenue-generating access services using their existing infrastructure,
while providing a migration path to cost-efficient end-to-end IP networks.
Founded in 1991 and headquartered in Alameda, California, the company has
research and design operations in New Jersey, China, and India. UTStarcom is a
FORTUNE 1000 company.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">For more information about UTStarcom, visit the company&#146;s Web site at
www.utstar.com.</font></b></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="2" face="Times New Roman" style="font-size:10.0pt;">
<!-- SEQ.=1,FOLIO='',FILE='C:\jms\mnguye\04-4778-1\task113393\4778-1-mm.htm',USER='mnguyenb',CD='Apr 23 15:03 2004' -->
<br clear="all" style="page-break-before:always;">
</font>

<p align="center" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>

<h2 style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Forward-Looking Statements</font></b></h2>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The foregoing statements regarding, without
limitation, anticipated closing of the purchase of assets from TELOS
Technology, Inc., the Company&#146;s prospects in the global CDMA market,
anticipated new product offerings, anticipated location of facilities, and the
company&#146;s ability to effectively integrate the acquired assets and employees
into its existing business are forward-looking in nature and subject to the
risks and uncertainties that may cause actual results to differ
materially.&#160; These factors include
rapidly changing technology, the changing nature of telecommunications,
cancellations of key partnerships and alliances,&#160; the direction of future research and development efforts,
evolving product and applications standards, general demand for and acceptance
of the Company&#146;s products, and other uncertainties. The Company also refers
readers to the risk factors identified in its Annual Report on Form 10-K,
Quarterly Reports on Form10-Q and Current Reports on Form 8-K, as filed with
the Securities and Exchange Commission.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Company Contact</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chesha Kamieniecki</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior Manager of Investor Relations</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(510) 749-1560</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Press Contact</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stephanie Gallagher</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Engage PR</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(510) 748-8200, x213</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">stephanie@engagepr.com</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">###</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>


<!-- SEQ.=1,FOLIO='',FILE='C:\jms\mnguye\04-4778-1\task113393\4778-1-mm.htm',USER='mnguyenb',CD='Apr 23 15:03 2004' -->
</body>

</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>g47781mmimage001.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g47781mmimage001.gif
M1TE&.#EA@@`R`/?_`/___W16J/CW^_W]_O7S^6M*HG-4IVY/I/OZ_6Q,H_?U
M^FE(H>[K]7%2INOG\N3>[OKY_(]VN6=&H.':[-O3Z+6ET-C0YYB"O^?A\)N%
MP?GX^Z>4R&]0I=+(XZZ<S(ANM'-5J/S\_>;@[\S`W^+<[7!1I<J_WJ.=KK*A
MSV1#GG)3IUX[FK^QU]#&XO#M]L&SV,6XVVU-I-3+Y?/P]VA'H'YBKX5JLK^R
MUX-HLF9%GY%MT9>`OL>[W.SH\^WI]'E<JVU.I.CC\:R:RX=MM+VOUKNMU'=9
MJ9Z)PY^*PYR&P<F\W:62QI5^O)R5J=_8Z][7ZW!1IJ&-Q8)GL:B5R6)`G=S4
MZ:N9RX!DKY1]O'A:JM?/YJ61QWM>K-7,Y7IDH8MSMY-[N\*UV65$G]C/YKJK
MU./=[L_%X<&TV(IQM[RNU;JKTYV)PZFCLLW"X&9%H&E)H=W6ZG16I[BHTG=:
MJJ*.Q?/Q^'15J)%YNK"?S7!2IGQ@K96,I7M=K(%GL(!EL+FJT]#%X6I)HL:Z
MV[>HTY>`O99_O;.BT/#M]7UAKJF6R6M+HZ*-Q=S5ZM'(XY-\O(]YNL.VV8UU
MN&]0IGQ?K:"+PY1\NY-\NY-[O&5%H(9MLX=KLVY/H_[]_OS[_7]DK_;T^?'N
M]O+O]_?V^FI)H757J.GD\>_L]?KX_'M@K7YAKH1ILJJ7RN7@[^KE\O3Q^')3
MJ*"+Q.#9Z^GE\FE*HFM,HVQ.HVY-I'E<K*&.Q*:2R+6FT;:FT<2WV\F^W=;-
MYN/>[N3=[NKE\6=&GWUJGVY-HVM-I'%4IW-6J'59IG96J757J798J7E:K'M?
MKG]DL(9WGX%KIXMYK(%FLH-GL85KLXEOM8EPM8EPMHQRMXQTN)!YN9)ZNY=_
MOI"%HYF$P*:?L*^KM["KM[:RNYN#P)R(P9Z(PJ",Q*..QJ2/Q:20QJJ6R:B6
MRJR;S+2BT+>GTL*_QL.WVL6YV\B\W,B[W<J]W<F]W<?&R][>W]3*Y-;,Y=G1
MY^'<[.[N[^OH\_;S^?___R'_"T%$3T)%.DE2,2XP`M[M`"'_"TU33T9&24-%
M.2XP%P````MM<T]035-/1D9)0T4Y+C!"/*3U`"'_"TU33T9&24-%.2XP&```
M``QC;5!02D-M<#`W,3(````#2`!SO``A^00!``#_`"P`````@@`R```(_P#_
M"1Q(L*#!@P@3*ES(L*'#AQ`C2IQ(L:+%BQ@S:MS(\1\G>-Z6I$L"CY-`#1[*
MB?1&@9,A7$MBRIQY;IV`@:[2P/+@HZ-/GP@NS/'D1UD1``)-79GDZ8HR8)UP
MI/)$M:K55-D0")15CMJ//H18_1R;$=0L8P8,2+"`])^6LP:,Q5#@8U8<$&GS
MQ@4!XD`4I*6,S9KU`XJB&I\(`FA+MC'#*@L"!#!F+)1``']&23Y0+408*H,;
M2!X]>%8*&![+G6U$8!6060\N^^,%RK'MA`#2O"&E;%:UF_]"%)JEC-0;%)Q>
M'*&3CIJQT7&XI:/CK6<H4K.0(*6@Z``&@?@4S?\"?KO\P`&/9@7H+<3D/P++
MGF-O!(#3@`&<4!R0K.R'/_L#(&7!*,6,(%`\"]3@RC\`5$,%"HR95YX_:`4`
MPBPF#,1*()*I`$0P!'%""`>2E<!-A`"PL``4('*""PT7<,)),,O,<@8G2''B
M0AFLD,<@`O;](T`9(3#HSR\/^&CD`\#XX-YEG)PBHP_!N`=!*3-$:%$9@9`R
MV0'`7!;/+%[.0HV/!"`BFC(QI%$0)U.,\H,&_RCP`Q5I<)*$>G%(X@PGG40Q
M2PZSV,&60`I,<P`%P$@BB08`O,!!#C080Y]``[AS`"9BS/(!`VV!<D46::`S
M&#6@["/8)O5D!,`-9`;_(,D5!`C$B3D)>$D,'4_^`PP'\BD22T$A[$`8!/_T
M0,TT)(BBRBOK+6,()^Y@LDPY.,QRBP("85!H&K.L@`4GP&#2P`75)/!#8@``
M(D8>YVQ0XS4#",3(6<:D0ID*S7!AA#%03),1)]R4X"40,0J$P`\-*!-``6%$
M&$\"DH$`16(ACJ.(,7#\,X```L@82C:S'%%'"`(8\\8-G%`PF&4`U$,#,]/`
M8`8PG'@C@3>=L)+`+#UX5`TF'LCX0@$<L,O"+*\THL`9QG!`31`S$"*)P!@)
MH`P(DLWRQT!U22:8$R&FHYXR4%S3*X-I+"!))6M#H`HFO0@T02"S@`B,!,O4
M_\K).1L#@Q0`"L2Q`#[_^##*,I:Y,LLH8OU#@1L!W#0`$BD<@50_)<S2@D`O
MT`!&1JS$4#$0^@P$2*QYH#(#00)4LQ\I!;BC9>(E=-Y(0<#,$D.8__Q!A7__
MJ"$&&"8AD,HL4S#FQ"Q0./"/"2E$@FP5-"SC#]LI9&.2`C5(8*#DQ)DBD`<2
M")$1#.H%8,`R+ERV2JP<;%/O0#UP()IQ8]P.`![B41M!>+"`5-P$`+SP1AA,
M8HD4V"YQ@QG60&Y`@VI`RALK6(=)TI""<7F$&PY$2BM^!B(`D,%,G1`:)GB`
M$0`@@423H89[!D`-:`5@%A`BB"]&\9S>6.8@_EA&`_]FT8:V<&(#$KC`X(P(
M#&6\87?_D($$E%$K6R4!$^E8#!Q:T!,`8,$-#]3`,C!A`08!PEK(&D`2)+`%
MI+C`&`4@VT4@X)SU'&`=;0G%<R03`QDHQAV[Z8T4D(60,1U`%>X1`#4D\((0
MB2`1^"JA!W+@B"()Q!_3F`4+"R**'\P"BD%XPRSBQPD/I,`;)DD3#3+T#PO,
M@G$8:05E`D"*!)AA(!0PG86,8;Z!=.(1,2C.+(J6D$ZH0C`@^H<##@";R[`B
M"8I(00-*<":/:$(":6!,[X@1FX(\`'K)-($8J(&L3E`C!?%`B@@&DTPY8"(;
M*;Q((V;!-5+$(&@"&000Q";_#4L*A``-V.,"1A`A!0CB!3WYAQQF$8@G"*0#
M-%#&`<<@B1RDHA[<F`4L3%('P91Q(+U8@!Y$89!YT*":`$A'"C3XCU#,8@&Q
M`<`()#"'-%X`$\V["`!TT3X#W$(K'BF$)+JVB`B1H'W&2,!W"-*(%*0@3``@
M`BUF40:/X*&#)A'`-!;@"`&$X!JS:.0_JG"6A'ID%1+@!HXZ(0"M``")Y3`)
M)Z0@@7IL9XJ)*64.3O0/?]2`!JVZR-],IXP#P*(M!$C%_F@QOLN<83<!X$`J
MJC@00%*#71L`0@S,QXDAI.`%2'F>+;[C@+$)A`P2$.!)/H#-?T``#+-P$P2N
M00.Q_X)",#'510HN(5<<Y(`%2`%&#(`0!(QT(J.TC`$>!6*&!'`M``E@0(@(
ML9\;DN-^MN(&#>+J$6K48A*G^`<H@`!3!KU``E(P22-&D87M<:(0PE@%8^KR
MAC"-T`T.]8$R%"'',<Q"#^Y%`R;(X$;RDH!!,N/"VB:"`&WLTT(_\(4_M/"#
M/-"2`];`[C].H8P]TN(H!"'`--Y`A'\*AKMCR($Q+'>.'.1B,;N0@/?^\8GE
ML5(@\S0&24=`@Q^8Q)7:RV<23>*//,PB=:V40`/R.@5,*!$C?Z.89`P@B64<
M8(_*P$0'(E2*7$TF!A\=2&EG<<M_C"$&-.#!8E"0@@QD]?\*.6C#/Q`0"0G@
M02`/`,(!(L<@(H@!&_6)0@Z\L9CS?D"NW)!`!9!R-V-(%P#NZ%Z].$$--X@5
M(Q2@`124X3`+K<=+>PTO04R0@&60PAA9,*M`>F"`!&P``O[@QFMZ0D,:J`-(
MH.#`+)3`B7D6H`L"H<<;KD!26WG`#6@8@"F,D0)`,*@=-)B&``!0"B.\`<DL
M2"V=.'$-,3RP+@N8@$8X$8:7`HLR!LB#(MQP`6XIAA"8T.P"J.%/@9CS+-18
MG@--`@%)Y&L'LIC!65)1CKCDS2,J)01C``")%("@'-G`A!&`8X84<"`#\?C"
M&U"!+``0(@4;(/(LQ+`[`.1##$G_VP@`@H&":>2!F<;XP3GT46];E8,;A.`&
M-XAPNU+T(1`I$,,!W.&>(Z:`!BD0P`#*$?0+O&`6!0B:`#*1`C<11!392`$5
M4D"-5@RDE*99@1A0T4T!\*&N`H$##6(`LZNJ=B.`^@0H0O&?!5_F/GBW^YPQ
M0($)^"-"Y*I"EH(##!'@1P&BD*L`%+#@GNFC%$#].BB<0`$,$-(CHE#`_3JA
M@&DSB!/^@,#M)$3ZTIO^]!*JS^A1SWJ)U"=*GPB%#_C>`1Y4H!%Z;[WNH<36
M&?3@`55H1#P&X0$Z$.(:4OA!"6KQN'"!=O>D7XST!X``!81"%K$0?AJ$L(8[
M5&,:7"`%_Q1*DX`$#/<`'"A!`U1@##L(YA?0]\EB9#2`3FC`'SX0`07,\`(4
MT($;7A$`G1,#OO,:_A90*L!^<6$'H]&`#0@%/_!#\0<1K]<)$"`*^!<$3R`#
M]9`&'K`&V7`%R2`8!8`WOC,+)4`9S^6`+-B"+@@$:B40R*`#PS"!GW=XLL=W
MC2`/:8`"Z7`!7Y`*!@!UI;$`@W$`*6@`GT8*3+@,+OB$4.B`">`!2-$$X?`.
M)\`&T2<C$$``/L`*%-`!\4`&'K`(%Q`!U*`'-P1U)C@+"0`$'``%*F``QU`<
M3,B$49B'>NB`()``K3($X/`,T+`')Z`1TC=_O=<#)*`%)N"!-[;W`5?`!\HP
M1+9`@*_!3.FW?L:P@IRVAY[XB2YH#)(0)CI@#U[@!?=0B`XQ?S(B)03``,$0
MAO&P"QO`#=6`"B"@:^5W@HYB#`IH#'?!@*`XC,2XA_E2&]%P`GO`#]W0!`BA
M`*YP"`Y0!A0`"/&@!BG!#3:P#,K``4!0?C%P9<:@#-RX'G;8:<68CNKHB5#`
J!.[!!B?P#4T@#C98C_9XC_B8C_JXC_S8C_[XCP`9D`(YD`19D`89$``[
`
end

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
