WDT Grants Licence to Seeley International

Media Release

4 October 2002

WDT Grants Licence to Seeley International

Wellington Drive Technologies Ltd (NZSE: WDT) today announced that it has granted a licence to Seeley International Pty Ltd (Seeley), Adelaide, Australia. Seeley is the world's leading manufacturer of evaporative coolers, with substantial business also in the gas heater segment.

Under the agreement Seeley obtains rights to manufacture Wellington motors.

"Seeley is at the head of the field in evaporative air conditioning with strong sales in Australia, the United States, Europe and other regions," said Dr Ross Green, WDT's Chief Executive. "They have a high degree of expertise with plastics moulding and motor production, and are thus well placed to make use of Wellington's proprietary motor technology."

He said that in addition to concluding this agreement Wellington had recently received a development order from a premium European appliance manufacturer.

“It is the first order from this European company, and covers a category of premium appliance that we have not previously worked with.”

Made from specialised plastics, permanent magnets and electronics, Wellington’s brushless motor design offers lower noise and longer life than conventional approaches. It also requires less than half the energy to run and can be made in virtually any shape.

ENDS

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