SHERMAN OAKS, Calif., Dec. 7, 2004 (PRIMEZONE) -- Telynx, Inc. (Pink Sheets:TLYN), a provider of network inventory management and provisioning software solutions to major telecommunications service providers, today provided further details on its licensing agreement with Hewlett-Packard (HP). Under the terms of the agreement, TLYN will license its netRunner software source code to HP. In turn, HP will provide ongoing software support to Telecom Egypt under a separate agreement. The contract is guaranteed for 2 years and has an additional 5-year optional extension. For its services TLYN would receive $65,000 per year, which would value the contract at $455,000 assuming a 7-year duration.
This agreement allows Telecom Egypt to continue to operate Telynx's netRunner software to manage its assets. netRunner is an Inventory management and provisioning system. The inventory management system will assist Telecom Egypt in keeping track of the assets the company owns throughout its network. The provisioning system will keep track of the status and condition of the assets. In short, netRunner will give Telecom Egypt the flexibility to manage and grow its assets while keeping costs under control. netRunner was designed to be scalable and easily interfaced with other software products that currently are not offered by Telynx, Inc.
As a result of this contract with HP, the company is in the process of re-establishing its contacts and contracts with all former clients such as Telekom Malaysia, and Sirti in France and Italy.
Over the next few weeks, the Company will be releasing additional information about its products and plans for its future direction.
About Telecom Egypt (TE)
TE is the largest telecommunications company in Egypt with 7.4 million fixed-line subscribers. It has proudly served the Egyptian private and business sectors for 150 years. TE is a world-class telecommunications company and has formed partnerships and alliances with several notable corporations such as Microsoft, Vodafone and France Telecom. Besides continuous development of its network to reach international standards, TE has focused on introducing new features and services to satisfy the demands of the private and business sectors: Intelligent Network services, ISDN, CLIP, CLIR, and high speed data transmission using FR/ATM state of the art backbone. TE is committed to the highest standard of ethics, and has established standards and values that govern its relationships with its customers, employees and community. For more information visit the Company website at www.telecomegypt.com.eg.
About Telynx Inc.
Telynx Inc. designs and markets a line of software products and related services to telecommunications service providers. Telynx's software is designed to track inventory, provide new telecommunications services and provide a tool for managing network bandwidth. The company's software complies and supports the Tele-Management forum, OSS/J, 3GPP and 3GPP2 initiatives for all of its products. Its mission is to deliver an end-to-end product and solution set that directly impacts its customers' cost of providing a wide range of complex quality services in a timely fashion.
For more information please contact Curt Cramer at (516) 498-9890 or visit the Company website at www.telynx.net.
Safe Harbor Statement
This release contains forward-looking statements with respect to the results of operations and business of Telynx, Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.