OpenGate Capital

Beverly Hills, CA.-July 31, 2008 - OpenGate Capital, LLC announced today that they have closed the deal for OpenGate to acquire the Mobile Solutions Business Unit from UTStarcom. The acquisition has been rebranded as Star Solutions. The company is responsible for the development and sales and servicing of wireless IP-based products that connect cellular infrastructures to IP networks. Its operations extend globally, including Canada, the United States, India and China. Under the agreement, OpenGate Capital will acquire substantially all of the assets of Star Solutions. Jack Mar, an experienced leader in the telecommunications industry, will continue his role as president of the newly branded company.

About OpenGate Capital

OpenGate Capital is an opportunistic private equity firm that acquires controlling interests in businesses with solid fundamentals which exhibit opportunities for operational improvements and growth. Established in 2005, OpenGate Capital has a global footprint with headquarters in Beverly Hills, California and a principal office in Paris, France. OpenGate is served by a seasoned team of M&A and operating professionals that bring the skills needed to acquire, operate and build successful companies. The partners of OpenGate have executed over 50 transactions worldwide ranging from corporate divestitures, turnaround acquisitions, industry consolidations and other special situations investments across a wide array of industries and geographical markets.

For more information on OpenGate Capital, please visit our website at www.opengatecapital.com.

About UTStarcom

UTStarcom is a global leader in IP-based, end-to-end networking solutions and international service and support. The company develops, manufactures, and markets its broadband, wireless, and terminal solutions to network operators in both emerging and established telecommunications markets worldwide.

Source: OpenGate Capital