The Board of Directors of NetComm Ltd (ASX: NTC) are pleased to announce that the company has completed the due diligence process and finalised the acquisition of 100 per cent of the shares of New Zealand-based Dynalink Modems Limited and 81% of its Australian subsidiary Askey Australia Pty Ltd. New shares have been issued in NetComm Limited.

The Board of Directors of NetComm Ltd (ASX: NTC) are pleased to announce that the company has completed the due diligence process and finalised the acquisition of 100 per cent of the shares of New Zealand-based Dynalink Modems Limited and 81% of its Australian subsidiary Askey Australia Pty Ltd. New shares have been issued in NetComm Limited.

The day to day operations of the New Zealand business will continue to be run by its former owner Ian Ferry, and the long established Dynalink business will continue to run in the same way it has, bolstered by the addition of NetComm's products, buying power and contribution to management resources.
Ian Ferry has also been appointed as an Executive Director to the NetComm Board. The NetComm Board welcomes Mr. Ferry's vast knowledge of the broadband communication market in New Zealand, and his wide business experience.

Dynalink staff will remain and both the company name and product brand will be retained.

TRANSACTION DETAILS FOR THE PURCHASE OF DYNALINK MODEMS LTD. AND 81% OF ASKEY AUSTRALIA P/L:
NetComm has paid to the former owners of Dynalink Modems Ltd. AU$328,535 via the issue of 1,899, 047 new NetComm shares at 17.3 cents per share.

In addition, NetComm has agreed to pay the former owners of Dynalink Modems an amount equivalent to the pre-tax net profit of Dynalink for the 18 months to June 30, 2007. Such payment would be made via the issue of new NetComm shares at an issue price determined by the average NetComm share price in the 5 trading days preceding June 30, 2007.

This second payment will only occur if Dynalink Modems Limited's pre-tax net profit achieves a minimum threshold of A$300,000.

From today, Dynalink Modems will operate as a wholly owned subsidiary of NetComm Limited, and Askey Australia P/L an 81% owned subsidiary, the remaining 19% being presently owned by Askey of Taiwan.

As foreshadowed in its announcement to the market on December 1st, the Board of Netcomm reiterates that it regards this transaction as being very positive for all parties.

NetComm, Dynalink and Askey have already commenced working together and we look forward to reporting to shareholders on progress early in the New Year.