FUENGIROLA, Spain, March 2, 2004 (PRIMEZONE) -- Spantel Communications, Inc. (OTCBB:SPAL), announced today that traffic for January 2004 was approximately 12,000,000 minutes versus 9,000,000 minutes in December 2003, an increase of over 30%. Traffic was also up significantly over the January 2003 billing cycle, increasing over 14%. The increases are primarily the result of the additional traffic routed through Spantel's network from two of the three agreements the company made earlier this year with Globatel and Sky Link. The third agreement with ITC is scheduled to commence in February and is also expected to add substantially to traffic, revenues and gross profits.
According to Spantel's President Jose Ramon Basterra "Our strategy for growth in aggressively pursuing acquisitions and agreements to route traffic of alternative carriers throughout Spain is already being reflected in these preliminary numbers. We have established ourselves as a primary carrier within Spain and now have the ability to provide minutes to other carriers on a wholesale basis at competitive prices." He went on to say "These new agreements, along with future acquisitions, will provide us with a stronger revenue base, as well as gross profits that are comparable to those achieved from our own customer base. We are currently in different stages of discussions with other carriers and are optimistic about the prospects of our negotiations."
Spantel Communications is a provider of telecommunications services through out Spain. The company expects to file its 10-KSB for fiscal 2003 ending in December on time.
Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. Those risks include, among other things, the competitive environment in the telecommunications industry in general and in the Company's specific market areas, inflation, changes in costs of goods and services and economic conditions in general. Those and other risks are more fully described in the Company's filings with the Securities and Exchange Commission.