MALAGA, Spain, Nov. 9, 2004 (PRIMEZONE) -- The CEO of Amitelo Communications Inc. (Pink Sheets:ALOC) makes statement regarding company's present progress and future plans:
Dear Shareholders / Dear Investors,
It has been quite a while since I have elaborated on the progress of our company; today I am keen to update you in all aspects of Amitelo's business achievements, progress, contracts, and future plans.
I. Amitelo has succeeded in making the following major achievements during 2004:
(1) The development of own Switching technologies for VoIP based
on SIP, MGCP, H.323, and ISDN
(2) The development of own software solution for VoIP Billing. The
solution is being currently commercialized worldwide under the
brand "Bill4Tel"
(3) The Deployment of a Wireless Network "Phase 1" in Southern
Spain to deliver telephone lines and ADSL to residents
(4) The provision of connectivity to two (2) different
Urbanizations on Costa del Sol: Buena Vista El Mirador
Mijas, Spain and Antequera, Spain, a total of 134 housing
units
(5) The Launching of Amitelo's international VoIP Services
(6) The Launching of Amitelo's Carrier-to-Carrier Services
II. Amitelo is fully committed to continue its concentration on this niche market's business opportunities:
(1) Provision of connectivity: Telephone Lines and Broadband
services to underserved expatriate communities in Southern Spain
(2) The Establishment of Point-to-Point Networks with Hard-to-
Reach destinations in collaboration with local African PTTs /
Telecom Operators
(3) The Marketing and Sales of innovative VoIP products and
services in Emerging African markets
III. Amitelo's targets for the new Fiscal Year 2005:
(1) Raise 1 to 2 Million Euro as working Capital
(2) Move to a higher trading venue in the US and / or in Europe
(3) Expand the National and International Network Reach
(4) Connect 10.000 households to the network on Costa del Sol,
Spain
(5) Establish the Multilingual Call Centre in Morocco for Amitelo's
customer support and assistance
(6) Deploy 3 Direct Routes, Point-to-Point Networks, with local
PTTs in Africa
(7) Deliver and install the HPNA and VoIP Technologies in Hotels
on the West African coast.
(8) Continuous and further development of innovative VoIP
technologies
(9) Expand Operations in the targeted regions, through M&A
IV. Amitelo has finalized several contracts for the new Fiscal Year 2005:
(1) Amitelo has secured a major contract with an African state
owned Telecom Operator allowing for potential revenues in
2005 of approx. 3 Million Euros (3.6 Million US$). By
executing this contract, Amitelo will be able to reach 40%
to 50% Gross Margin. Due to the confidentiality clause, we
are unable to release the name of the state owned company.
(2) The company has also finalized a contract with the
International Marketing and Sales Company VIRTUA SA to
assist in marketing Sunline's VoIP services and products
on the Spanish coast. VIRTUA is investing into the
development of Amitelo's Business on Costa del Sol.
(3) The company has finalized a collaboration Agreement with First
Telecom GmbH, a German national and international
Telecommunications operator to co-invest into some profitable
Direct Routes (Point-to-Point Networks) to Hard-to-Reach
destinations in Africa.
V. Amitelo is currently conducting negotiations with international Investors:
Amitelo is currently conducting negotiations with German Investors and also in parallel, negotiating an investment with a Canadian Investment Group for the purpose of raising 1 Million Euro as working capital for the coming fiscal year 2005. Discussions and negotiations are being held in Frankfurt and in Malaga. No final Agreement has been reached yet.
VI. Amitelo is organizing a VoIP Product Show Conference at the Vinuela Hotel in Velez-Malaga:
Amitelo is organizing a Product Show Conference on Wednesday, the 10th of November 2004, at the Vinuela Hotel in Velez-Malaga. Approx. 200 Attendees & Potential customers are attending the conference. This conference is an opportunity to demonstrate our VoIP Products and services to the people that are in urgent need of reliable connectivity.
It is extremely important for me to mention that Amitelo remained a debt free company and both our outstanding Management Team and myself are totally committed to increasing the growth of the company, its financial strength and its Business perspectives and certainly without doubt maximizing the shareholder value.
Sincerely yours Khaled M. Akid Chairman & CEO
About Amitelo Communications, Inc:
Amitelo Communications Inc. is an international telecommunications and Internet service provider company. Amitelo's core business is dealing with the delivery of high quality voice & Internet services. The company's concentration is on providing both VoIP Voice over IP services and DSL / Broadband via Satellite in regions lacking connectivity. Several parts of Southern Europe, many regions in Africa and the Middle East currently lack connectivity. The company is currently dealing with Internet & Voice traffic generated by it's international subscribers and is in the process of expanding its services by establishing further POP Points of Presence throughout Africa and the Middle East. The company's Management brings over 70 years of combined experience in almost all aspects of Information Technology and Telecom.
Forward-looking statements in this release are made pursuant to the "safe harbour" provisions of the Private Securities Litigation reform Act of 1995.
Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, but not limited to, continued acceptance of the company's products and services, competition, new products and technological changes, as well as any and all "other risks" associated with business.
For more information on Amitelo Communications Inc., please visit our website at: www.amitelo.com or e-mail us at info@amitelo.com