TORONTO, July 28, 2005 (PRIMEZONE) -- Innotelco Inc. (Pink Sheets:ILCO), a marketer and distributor of telecom hardware and network solutions, announced today that it has entered into discussions with Bomex Trading to provide cable products valued at $165,000.
Bomex Trading has been in business since 1989. Innotelco, through its agency and distribution agreement with Farel, is in negotiations to provide Bomex with cable hardware product. The potential value of this agreement could exceed the initial order placement.
"There exists the potential for Bomex Trading to increase the estimated value of the initial order with further contracts over the next 6-month period," said Radomir Popovic, Vice President, Sales and Marketing.
Mr. Popovic continued, "I will be meeting with several potential clients on my upcoming trip to Europe and am planning to meet with Bomex Trading to discuss projections for further orders."
About Farel
Farel, established in 1990, covers the market for over 20 million people in the southeastern region of Europe. Farel is a distribution agent for six major worldwide corporations: four from Austria, one from Germany and one from the United States. The President of Farel, Vasil Atansov, has 20 years' experience in marketing and distribution. Farel maintains offices in Skopje, Macedonia, Serbia and Montenegro, Bulgaria, Albania and Greece.
About Innotelco, Inc.
Innotelco is a telecom hardware supplier, specializing in servicing emerging markets looking to expand their telecommunications networks. Innotelco's products range from indoor and outdoor coaxial cables and accessories to fibre optics and switching equipment.
Safe Harbor Statement
This press release contains forward-looking statements as defined in the Securities Litigation Improvements Act of 1996. The words "believe", "expect", and "project" and similar expressions define forward-looking statements, which speak only as of the date the statement was made. Innotelco, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise. Forward-looking statements are currently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated in, underlie the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject to include, but are not limited to, the Company's ability to meet its projected growth, the effects of government regulation, competition and other material risks.