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November 18, 2005
MIAMI -- Interlink Global Corp., (OTC:ILKG), today announced that it has executed an agreement with the Governor and the Comptroller on behalf of the Regional Congress of the State of Manabi, Ecuador, South America. This agreement will lead to the signing of a definitive contract to create a Private Telephone Company which will serve the entire State of Manabi with Broadband Internet Connection, Voice over Internet Protocol telephony, and other applications using the infrastructure provided by Interlink. This venture will be named Manabitel, and will include local investors, with Interlink Global Corp. serving as the strategic partner providing the technical know-how and operational expertise.
The first phase will be developed using Interlink Global's platform connected by way of satellite, employing for dispersal, wireless Internet Wi-Fi, and Wi-Max, with the following stages to include ground networks consisting of: microwave radios, optical fiber, and traditional copper wires.
According to Severino Rivano, Vice President of Interlink, who has traveled the region extensively, and has previously developed similar projects in Nigeria as well as Mexico, "This project constitutes one of the largest projects of this type in Latin America to date, and presents a potential for continuous future development in additional underserved and underdeveloped areas not only in Ecuador, but in Bolivia, Brazil and Argentina."
Rivano further stated, "The region is grossly underserved as the population is currently 1,128,000 people with only 62,000 telephone lines, which is less than 6% of density. The goal of the local government is to reach a density, through the development of this company, of 20% in three years. The estimated deficit is approximately 150,000 telephone lines and Broadband is virtually non-existent in the entire region. The rapid deployment feature of our proposal was stressed by Interlink and greeted with overwhelming approval by the Government of Manabi. This coastal region of Ecuador has a maritime-based economy with the fishing industry currently processing tuna, shrimp and other seafood varieties, and exporting them world-wide. The need for clear, high quality communication, long distance telephony, and access to the World Wide Web and to E-Commerce is critical for the future development of the economy of Manabi. Our company, through this partnership will address these topics immediately employing the latest technology to develop a telecom infrastructure to best respond to these immediate needs.
In describing the future operations of Manabitel, Mr. Anastasios Kyriakides, Chairman and CEO of Interlink stated, "The total investment when the project is fully deployed will be approximately $40,000,000, and the recovery of the investment will be accomplished in approximately three years. Part of the investment will come from local investor funds, and part will come from net operational revenue created from the first year's operations. This will continue for the first three years after the initial investment. The venture will be cash positive beginning in the fourth year. It is anticipated that the gross revenue will average approximately $13.3 million on an annualized basis over the first four years of the project. The net profit for Interlink will be approximately $4,500,000 yearly after the system is fully operational. These gross and net revenues could increase substantially as more services are deployed and the penetration level of customers receiving services grows beyond the initial target of 20%."
Interlink Global Corp.
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