PORTLAND, Ore., Oct. 14, 2003 (PRIMEZONE) - Nettel Holdings, Inc. (OTCBB:NTTL) today announced that the company has filed an application for market listing in Berlin, Germany and will be conducting an intensive European advertising and awareness campaign in the German-speaking region.
The Europeans are taking the lead in a market that has shown a vivid foundation for unprecedented growth and profits over the next 5-10 years.
Michael Nguyen, CEO of Nettel stated, "Through our listing on the Berlin Stock Exchange, the European investment community will incur lower transaction costs and easier trading conditions for Nettel stock. He added, "European shareholders have a long-term perspective. German investors benefit from strong tax incentives such as a zero tax rate for capital gains after a holding period of 12 months."
With anticipated continued revenue growth and profitable results in the coming quarters through our telecommunications products, software development and other new initiatives, Nettel is poised for growth. New opportunities in Vietnam will further speed up our growth prospects.
Nguyen further commented, "With an investor awareness program in Europe, we will be able to tap into the opportunities of a changing global capital environment and boost our status as a truly global player."
About Nettel
Nettel Holdings Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities, the most important of which are Telecommunication and Software. The wholly owned subsidiaries of Nettel Holdings are Nettel Telecom International, VoipXchange.net, and EnTec Software. In addition, the Company operates Nettel Trading, which offers the trading of Metals, Chemicals, and other commodities.
Safe Harbor
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the company's ability to attract qualified management, raise sufficient capital, and effectively compete against similar companies.