MONTREAL, July 25, 2005 (PRIMEZONE) -- TelePlus Enterprises, Inc. (OTCBB:TLPE) (http://www.teleplus.ca), a vertically integrated provider of wireless and landline communications products and services across North America, is pleased to announce today its subsidiary, TelePlus Connect Corp. ("TelePlus Connect"), which operates the Company's prepaid telecom division, announced that its earnings before taxes, amortization and depreciation increased by 54% reaching $74k for the month of June compared to $48k for the previous month.
TELECOM'S DIVISION ANNUALIZED EBITDA TO REACH $2.9M PER ANNUM
The Company's Telecom revenues are expected to reach $15.6M per annum and annualized EBITDA in excess of $2.9M and this without any organic growth. The recently completed acquisitions have allowed the Company to more than double its revenues versus 2004 results.
Marius Silvasan, CEO of TelePlus Enterprises, stated "Again another great month for our Telecom division. We have successfully doubled the size of our business in the last 6 months while providing value to our shareholders. In July we will see the impact of Telizon on our revenue and earnings," added Silvasan.
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This press release is available on the company's official on-line investor relations site for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com/ir/teleplus. Alternatively, investors are asked to e-mail all questions and correspondence to TLPE@agoracom.com where they can also request addition to the TelePlus investor e-mail list to receive all future press releases and updates directly.
About TelePlus http://www.teleplus.ca
TelePlus Enterprises, Inc. ("TelePlus") is a vertically integrated provider of wireless and landline products and services across North America. The Company's retail division - TelePlus Retail Services, Inc. - owns and operates a national chain of TelePlus branded stores in major shopping malls, selling a comprehensive line of wireless and portable communication devices. TelePlus Wireless, Corp. operates a virtual wireless network selling cellular network access to distributors in the United States. TelePlus Connect, Corp. is a reseller of landline and long distance services including internet services.
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development and acquisition of new product lines and services, government approval processes, the impact of competitive products or pricing a technological changes, the effect of economic conditions and other uncertainties, and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. Teleplus Enterprises, Inc. takes no obligation to update or correct forward-looking statements.