IPVoice to Buy PFK EBusiness

PHOENIX -- IPVoice Communications, Inc (OTCBB:IPVC) (www.ipvoice.com), a technology-driven Internet telephony development company, announced today it had signed a Letter of Intent to acquire Texas-based PFK eBusiness Systems, Inc. (www.pfk.com). The transaction is expected to be completed by June 10, 2002. PFK eBusiness Systems, Inc. is a leading privately held Enterprise Software Provider of Webware products and Managed Services. Headquartered in Irving, TX, the company's patent pending eDirect Internet Agent(TM) is a suite of Internet based products that enable enterprises truly to embrace and leverage the power of free and openly distributed information. PFK's Internet-based software enables companies to optimize all their enterprise relationships, including value chain compression, B2B communications and business process management. The company recorded approximately $4.0 million in sales in 2001, supports 100 million website hits per month at its on-site managed services data center, and has been a D/FW Fast Tech 50 recipient two years in a row. "In the software development world, PFK is a notable force," says Philip Verges, the CEO of IPVoice. "In the past, we have often gone to PFK as a client for some of our toughest development projects. Our combined experience and the renewed IPVoice business model make the addition of PFK an exceptional marriage." IPVoice Communications, Inc.