SEATTLE, May 4, 2005 (PRIMEZONE) -- Innovative Communications Technologies, Inc. (Pink Sheets:ICTN) announces approval to provide it's private Global Private Telecommunications Network products to educational facilities in conjunction with the Universal Service Administrative Company, Schools and Libraries Division E-rate program.
Leasing Innovative's network products typically provide a 50% reduction in cost to business customers in outbound and inbound calling expenses. The USAC mechanism provides 20% to 90% discounts on telecommunications services and Internet access to eligible schools, school districts and libraries throughout the United States.
A school district for example, leasing Innovative's telecommunication products in combination with of the USAC E-rate discount, has the ability to receive a considerable discount back from the Universal Service Fund. This represents a significant savings and potential total of 95% in cost reductions for some schools.
"We are pleased to be an approved E-rate vendor. Being a part of a program that helps neighborhoods save money is very rewarding," said Joel Edwards, Director of Network Sales, ICN. "We are currently working with various prospective customers and look forward to strengthening our existing business relationships within the Education community."
About E-rate
The E-rate -- or, more precisely, the Schools and Libraries Universal Support Mechanism -- provides discounts to assist most schools and libraries in the United States to obtain affordable telecommunication and Internet access. Three service categories are funded: Telecommunications Services, Internet access, and Internal Connections. Discounts range from 20% to 90% of the costs of eligible services, depending on the level of poverty and the urban/rural status of the population served. Eligible schools, school districts and libraries may apply individually or as part of a consortium.
About Innovative Communications Technologies, Inc.
Since 1989, Innovative has been a pioneer in the development and positioning of private telecommunications networks for businesses. Innovative's proprietary technology and alliances with industry leaders now place the company at the forefront of the telecommunications industry. For more information visit the company's website at www.ict.net.
Safe harbor statement under the private Securities Litigation reform Act of 1995
This news release contains forward-looking statements, including statements regarding Innovative's expectations about successfully expanding its GPTN business and securing significant additional customers for its products or services. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from future results expressed or implied in such statements. These risks and uncertainties include the inability to manage expected growth, the loss of a large customer, the failure to realize the increased revenues and improved operating margins that the Company has associated with sales of GPTN, the loss of any key personnel, tightening regulation of the communications technologies and channels used in our systems, our inability to introduce new services that are accepted by the market, the loss or non-performance of our sales representatives, unfavorable results of existing and potential litigation, and the possibility that competitors could develop or acquire technology that could erode Innovative's technical advantages. The Company disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements contained in this news release.
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