Amitelo's CEO Gives Update

Amitelo Communications CEO makes statement regarding company's present progress and future plans

November 9, 2004

4 Min Read

MALAGA, Spain -- 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.

Amitelo Communications Inc.

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