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IPVoice Touts VOIP Progress

IPVoice cites growing user base and accomplished and proposed acquisitions as progress in its long-term VOIP strategy

November 19, 2003

2 Min Read

DALLAS -- IPVoice Communications, Inc. (OTCBB:IPVO) (www.ipvoice.com) today announced recent progress in the development and execution of the Company's Voice over Internet Protocol Strategy (VoiP).

Recently, IPVoice acquired a 51% interest in IP Global Voice, Inc., headquartered in San Francisco and led by CEO Peter Geddis, a former Executive Vice President and Chief Operating Officer of Qwest Communications (NYSE:Q).

Subsequently, IPVoice announced the reassignment of VoIP customers from a TekVoice Communications Inc. to IPVoice Communications as part of a first step in a more strategic overall opportunity with IPVoice. Today, IPVoice is adding to the base of reassigned VoIP customers at a rate of 20% month to month.

TekVoice and IPVoice are also in negotiations regarding the sale of additional TekVoice assets to IPVoice. Specifically, TekVoice and IPVoice are discussing the sale of TekVoice's billing technology solution and customer base throughout the United States and Latin America. TekVoice currently bills over $65,000 per month in recurring revenue with an additional $15,000 per month in revenue under contract. The billing solution would add to IPVoice's portfolio of propriety software products aimed at offering an end-to-end VoIP solution on either a turnkey or service provider basis.

IPVoice is currently on the short list of potential vendors for a number of large VoIP projects that would place over 1000 VoIP phones in service. The contract opportunities have a very narrow vendor eligibility requirement that IPVoice fulfills with its unique solution capability.

"IPVoice will soon begin announcing more details of our strategy for rapidly expanding our VoIP business," states Philip Verges, CEO of IPVoice Communications. "We are confident our plan will produce exponential VoIP sales growth as we build our reference base. We believe the execution of our VoIP strategy has been optimally timed with the marketplace's receptivity to a VoIP solution. Being an active participant in this high profile sector can only help IPVoice in building corporate awareness and sales momentum going forward."

IPVoice Communications Inc.

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