BRIGHTSTAR CORPORATION NAMED FOR CONTINUED GROWTH TRAJECTORY

MIAMI – August 29, 2003 – In its August edition, Hispanic Business Magazine listed Brightstar Corporation as one of the fastest growing Hispanic owned businesses in the nation. Brightstar, a leading distributor of wireless products and a provider of supply chain outsourcing services, ranked 16 on the 100 fastest growing companies list.

The news comes on the heels of Brightstar’s recent announcement that it achieved $1 billion in revenues in the 12 months of operation from May 2002 – June 2003. Brightstar is one of only three Hispanic-owned businesses in the United States to achieve this milestone.

The continued financial growth of Brightstar is marked by its success in both Latin America and the United States. In the past year, Brightstar has increased its in-country presence in Latin America to its current size of 15 subsidiaries throughout South America and the Caribbean.

Additionally, Brightstar US, which started operations in October 2001, now ranks as the company’s fastest growing subsidiary.

Brightstar Corp. is a privately-held, minority-owned company that has achieved extraordinary organic growth; almost doubling its revenues each year since its founding in October 1997-$14 million in 1997, $73 million in 1998, $140 million in 1999, $355 million in 2000, $631 million in 2001 and $849 million in revenues in 2002. The company expects to exceed $1.1billion in fiscal 2003.