FORT LAUDERDALE, Fla., Aug. 31, 2006 (PRIMEZONE) -- Sprint Nextel Corp. (NYSE:S), tglo.com, inc. (formerly known as Voiceglo Holdings, Inc.) and theglobe.com, inc. (OTCBB:TGLO) announced today that they have resolved their pending patent infringement lawsuit by settlement. In October 2005, Sprint Communications Company filed a lawsuit against Voiceglo Holdings (now tglo.com, inc.) and theglobe.com, alleging that the providers of Voice over Internet Protocol (VoIP) telephone services and equipment infringed seven patents owned by Sprint. As part of the settlement, Voiceglo and theglobe.com have entered into a non-exclusive license under Sprint's patents. The remaining terms of the settlement are confidential.
"Sprint is very pleased with the settlement and views it as a validation of the strength of our voice-over-packet portfolio and a recognition of the importance of the innovations developed by our employees," said Harley Ball, Sprint's vice president of intellectual property. "Sprint's voice-over-packet portfolio comprises over 100 patents covering different methods, components and systems employing VoIP and other technologies. Sprint considers the settlement a significant achievement for its patent portfolio."
"We are very satisfied with the resolution and the terms of the settlement," said Ed Cespedes, President of theglobe.com and Treasurer of tglo.com. "I want to assure our shareholders and customers that this settlement will not materially impact any ongoing or future operations of tglo.com or theglobe.com. Our companies look forward to continuing to offer creative and useful communications solutions in the future."
Safe Harbor
This press release includes forward-looking statements related to theglobe.com, inc. that involve risks and uncertainties, including, but not limited to, risks and uncertainties relating to integration of newly acquired businesses and assets, product delivery, product launch dates, risks relating to the Internet, development and protection of technology, the availability of financing or other capital to fund its plans and operations, the management of growth, market acceptance of our products, our ability to compete successfully against established competitors with greater resources, the uncertainty of future governmental regulation (particularly as it pertains to the Internet), pending litigation and other risks. These forward-looking statements are made in reliance on the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. For further information about these and other factors that could affect theglobe.com's future results and business plans, please see the Company's filings with the Securities and Exchange Commission, including in particular our Annual Report on Form 10-K for the year ended December 31, 2005 and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2006. Copies of these filings are available online at http://www.sec.gov. Prospective investors are cautioned that forward-looking statements are not guarantees of performance. Actual results may differ materially and adversely from management expectations.