DALLAS, March 1, 2005 (PRIMEZONE) -- MailKey Corporation (OTCBB:MAKY) subsidiary, IElement, Incorporated, a leading facilities-based communications service provider of enhanced voice and data services, announced today that the Company renewed over $12,000 in monthly recurring revenue in January 2005. The Company's voice and data customers renewed their services with IElement for a minimum of twelve months, and many of the contracts were renewed with 24-36 month extensions. The aggregate contracted revenue renewed for the month ending January 31, 2005, will exceed $185,000 over the next 36 months. This forecast is based on the assumption that the customers will abide by the binding terms and conditions set forth in their agreements with IElement.
Ivan Zweig, chief executive officer of IElement said, "We are pleased with our strong January renewal results. Customer attrition is a big concern for the communications industry, and these results show that our customers are very satisfied with our flagship dynamic T1 and L2PN WAN services."
Zweig stated, "We are continuing our momentum to renew customers from our solid 4th quarter results, and we anticipate this trend to continue in 2005. I believe the work we have accomplished with our strategic planning will create exciting opportunities to not only renew customers, but to sell further value-added products and services, such as business class cellular services, which will further enhance our recurring revenue stream."
About Ielement
IElement is a facilities-based nationwide communications service provider that provides state-of-the-art telecommunications services to small and medium sized enterprises ("SMEs"). IElement provides broadband data, voice and wireless services by offering integrated T-1 lines as well as a Layer 2 Private Network solutions that provide SMEs with dedicated Internet access services, customizable business solutions for voice, data, wireless and Internet, and secure communications channels between the SME offices, partners, vendors, customers and employees without the use of a firewall or encryption devices. IElement has a network presence in 18 major markets in the United States, including facilities in Los Angeles, Dallas, and Chicago. For more information on IElement, please visit http://www.ielement.com
About MailKey
MailKey is a messaging security and management company. It is developing its Envoy technology platform to enable scaleable filtration, control and management of messages through a central management point. MailKey is exploring business development opportunities for the Envoy platform in the wireless Mobile Network Operator, gaming, and other markets. In November 2004, MailKey announced that it had been appointed as a Premium Member of the Orange Partner program to develop next-generation mobile message management solutions for mobile subscribers. Orange is one of the world's leading wireless Mobile Network Operators, with a 50 million-plus customer base in 19 countries. For more information on MailKey, please visit http://www.mailkey.com.
Safe Harbor Statement
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of these statements. The words "estimate", "project", "intends", "expects", "believes" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the ''safe-harbor'' provisions of the Private Securities Litigation Reform Act of 1995. For a more complete description of these and other risk factors that may affect the future performance of the Company, see ``Risk Factors'' in the Company's Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.